During the estate planning process, individuals should consider what they will do when they cannot make decisions for themselves. Those who work on their estate plan should understand the key differences between a power of attorney and guardianship. Power of attorney...
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Estate Planning
Why should you include a trust in your estate plan?
Planning for the future is an important aspect of responsible financial management. A comprehensive estate plan includes several documents, including a trust. When it comes to estate planning, establishing a trust can offer numerous benefits that contribute to the...
Common estate planning mistakes to avoid
Estate planning is an important task that ensures your assets get distributed according to your wishes after you pass away. However, many people make avoidable mistakes that can lead to complications for their loved ones. Neglecting to create a will Did you know that...
4 ways to minimize estate taxes
Estate planning is an effective tool to safeguard your hard-earned assets and ensure a seamless transfer to your heirs. In New Jersey, a state with its own estate tax system, it is important to explore strategies that can help minimize estate taxes. 1. Gifting...
What are some negative traits an executor should not have?
When you are trying to find the best person possible to be the executor of your estate, you may not know how to narrow down your choices. While everyone involved has positive qualities, you should also think about the negative qualities they possess in order to get a...
Why your estate plan needs an advanced directive
Your estate plan should be a comprehensive summary of your assets, the value of your estate and your final wishes for everything in that estate. Unfortunately, one thing that many people overlook in that process is an advanced directive. Sometimes called a living...
When should you add a power of attorney to your estate plan?
There is much more to consider when working toward a complete estate plan than just writing a simple will. You should also think about the estate planning tools that will continue to benefit you during your lifetime. A power of attorney is one such item that every...
Factors for choosing the right executor
Building an estate plan is an important part of end-of-life planning. A key factor in your estate plan is the person you name as executor of the estate. Remember that the executor is responsible for carrying out your final wishes, so you should choose carefully. There...
Should you include a revocable trust in your estate plan?
A revocable trust can benefit anyone planning their estate. It can allow you to bypass generations, protect assets against future legal troubles, or help you avoid probate. If you are planning your estate, you should consider including a revocable trust to help you...
3 common omissions during estate planning
Putting an estate plan in place is important for your family to secure their future, and for your peace of mind knowing that your wishes are clear. Taking the time now to articulate your wishes is a wonderful way to show your family how much you love them. However,...