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August 2010 Archives

Lack of Estate Planning Costs Texas Woman Millions in Classic Cars

It's fine and good to talk about the importance of estate planning, creating a valid will and ensuring the well-being of loved ones. All are completely valid points and very worth the time and consideration. However, sometimes a real life example can go a lot farther towards making the point.

What is a Revocable Living Trust?

Trusts and wills, while often spoken of together, are completely different. Where a will only really comes into play after your passing, a trust is something that operates during your lifetime. One of the biggest differentiators between the two is a procedure known as probate - the legal transfer of one's property after he or she has died.

Planning for End-of-Life Care: More than a Living Will

Planning for end-of-life care is an essential, yet often misunderstood step to take when making plans for your future. Along with estate planning, documents like living wills allow individuals to make decisions for themselves, while they are still able to plan ahead.

All About the New Jersey Inheritance Tax

New Jersey's inheritance tax is a nuanced, variable bit of legislature that applies in some situations, but not in others. When planning out your estate and determining where you will distribute things after you have passed, it is important to be aware of all applicable taxes and deductions.

Tips for Planning a Safer Retirement

Finance writer Ryan Guina recently covered the top 10 tips for (saving) your retirement savings in U.S. News & World Report yesterday. Estate planning is legal, on one hand, and best accomplished with the help of an experienced attorney. However, estate planning is also what you do every day, when you make the decision to buy something, pay off debt or put money in the bank.

Estate Taxes in New Jersey: Federal and State

Much has been covered in regards to the disappearing, reappearing federal estate tax and many have assumed that 2010 is a "freebie" in regards to asset transfers. What many forget to take into account is that a large number of states, like New Jersey, also levy an estate tax.

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