Estate Planning

While it is never easy to lose someone you love, being burdened with the responsibility of taking care of their estate makes the process even more miserable. But fear not, help is available!! The probate process and estate administration are legal procedures that have to be followed to address the assets of the deceased. In this article, we will walk through the probate process and what you...

Poorly written Wills (or revocable trusts) can create enormous headaches for the Executor (or successor Trustee) who has to track down Beneficiaries and interpret what the document requires. “Simple Wills” that don’t address the details can lead to expensive legal troubles later. Here are some issues to think about when you are designing your estate plan,  so that your lawyer...

I had a meeting recently with a client whose spouse had set up an irrevocable life insurance trust (ILIT).  The client is the beneficiary of the Trust. The Trust owned a substantial life insurance policy on the spouse. The spouse died 15 years ago, and the insurance policy was promptly paid to the Trust. The client is the Trustee, and established a brokerage account with the funds. The client...

Valentines’ Day is upon us and we’re surrounded by images of hearts and flowers. Even if a person doesn’t celebrate the day, it’s hard to miss the pink and red reminders that we should show our loved ones how much we care. One way to do this is to finally take care of those pesky legal matters that you keep shoving under the bed to wait for another day. In our practice...

IT’S SPRING CLEANING TIME! DUST OFF YOUR OLD ESTATE PLAN   Spring time is when people often take a look around and start freshening things up. Home repairs, paint jobs, new furniture, new clothes, maybe a different haircut…… there’s something about seeing the new buds on trees and the blooming daffodils that gets us thinking this way. It’s the perfect time to pull out your old estate plan...

A few years ago, my husband and I sat down with all of our children and their spouses for a family meeting. I started with, “Our plan is to live forever. But just in case ………” and we proceeded to tell them about our new estate plan, who would have which responsibility, where important data is kept, who takes care of things for us, who our doctors are, and who to...

So, you’ve been named as someone’s attorney-in-fact (“Agent”)… now what? To make a long answer short- it depends.   The first question any Agent must ask herself is whether the Power of Attorney document (“POA”) grants her the authority to act on the Principal’s behalf immediately (known as a durable power of attorney), or if the Power of Attorney only comes into effect upon a...

When you sign a Power of Attorney, the person you name to be your “attorney-in-fact” or “agent” is entrusted with certain legal obligations known as fiduciary duties to you. This is known as the Principal-Agent relationship.

If you are in a non-traditional relationship — i.e., the unmarried couple living together for years, whether gay, straight or anyone in between — don’t you want to be the one who decides who takes care of you or manages your decisions if some catastrophe occurs? Of course you do. But if you don’t set up a plan, and you just “leave it up to the law,” the exact opposite of your...

On March 3, 2021, Governor Murphy signed into law the LGBTQI+ Senior Bill of Rights, a sweeping civil rights law aimed at protecting New Jersey’s LGBTQI+ seniors living or thinking about moving into one of New Jersey’s 360+ long-term care facilities.