If you’re worried about the tax man coming for your estate, know that only two percent of estates are subject to a federal estate tax. On a federal level, an estate tax is imposed only on wealthy clients, and if that’s you, know that making certain moves can allow you to maintain even more wealth
There are many reasons to establish a trust. You may have a child who is not yet mature enough to handle the responsibility of an inheritance. A spendthrift trust can be established to prevent the sale of assets held in the trust until creditors are paid. You may have a child with special needs who
The loss of a loved one is a painful, emotionally devastating life event. Even worse, the confusion that can come when dealing with that loved one’s estate can amplify the grief that accompanies loss. Whether or not there is a will, meeting with an attorney to go over the steps required to administer that estate
One of the biggest worries for parents of a disabled child is that he or she will struggle with finances or finding specialized care after they pass away. To ease that concern, a special needs trust can be put into place to ensure financial and legal protection as well as special needs care. Among other
Inheritance tax is a type of estate tax that is imposed on the recipient of an inheritance. If you live in New Jersey or own real estate or other property in the state, your beneficiaries may be required to pay a tax on the amount they receive. The amount they must pay is determined by
After spending a lifetime building an estate, it is important to protect those hard-earned assets. Putting an estate plan in place can not only protect you if you should become incapacitated, but it can also ensure that the money you worked so hard to accumulate is protected after death. A federal estate planning lawyer can
Estate planning is a very important and often overlooked aspect of life. For some, it can be difficult to think about during the prime of life, but it’s better to plan early than later. A life insurance trust lawyer can help you create a plan that will protect your family and assets in the event
Estate planning often includes the establishment of a trust, which outlines how available assets will be distributed, based on the wishes of the trustor. A trust also provides legal protection for the trustor’s assets. Solid as a Rock An irrevocable trust is especially effective when it comes to providing a legal safeguard for assets. Unlike
Revocable trusts, also called living trusts, are a popular estate planning tool many people use to transfer assets to their heirs. The trust allows you to manage your assets while you’re alive and then have them automatically transferred to your beneficiaries when you die or become incapacitated. In this post, we will discuss how revocable
Probate is a legal process for the distribution of assets from an estate. This means that a probate court gives the deceased person’s will full legal force and effect. If you are named an executor or administrator of someone’s will, you may be required to handle their probate case. What Does a Probate Lawyer Do?