Caution: Avoid These Estate Planning Mistakes!

You have worked too hard in building up your estate to leave any of it to chance. Unfortunately, it is all too easy to make simple mistakes that could wind up costing your family not only heartache, but money to sort out. Here are 5 mistakes that you need to avoid when planning your estate. Don't procrastinate! According to a study from BMO Wealth Management, more than half of American adults have not Read More

4 Things to Revisit in Your Estate Plans at the End and Beginning of Each Year

The new year is a great time to consider updating or revising your estate plan. Things change from year to year, so it is a good idea to pull out your estate plans periodically to be sure that it still says what you want it to say. Your estate plan is important to both you and your loved ones, so it is vital that it is correct and remains up to date. Below are a few changes that may have happened this year that might Read More

6 Things a Will Can and Can’t Do for You

Wills are an extremely beneficial estate planning tool. However, they do have some limitations. Below is a quick description of the most important things that wills can and cannot do for you. What a Will CAN Do for You     A will can help you avoid intestacy laws. If you do not use a valid will to describe whom you would like to get your assets, anything you own at the time of your death will Read More

Estate Planning 101: Understanding Powers of Attorney

A power of attorney, sometimes referred to as a “POA,” is a written document that provides someone else with certain rights that you would normally hold. The principal, the person granting the power, authorizes another person, the attorney-in-fact, to act on their behalf. The relationship between the two is based on theories of agency, which means that one person serves as the agent of the other. In New Jersey, Read More

How to Choose a Trustee: 6 Essential Attributes

Choosing the right trustee is extremely important because this decision can ultimately affect how efficient your trust will be in the future. It will affect your beneficiaries, who are often people or entities that you care about deeply. Choosing an ineffective trustee can ultimately undermine your goals in setting up your trust. You should look for the following characteristics in any individual that you are Read More

Advantages and Disadvantages of Creating a Living Trust

A revocable living trust is similar to a testamentary trust, but it is established while you are alive, and you have the power to change it or adjust it as you see fit. It has a trustee that will administer the funds and beneficiaries. In this type of trust, you can be both the trustee and the beneficiary if you so desire. You can also set up a non-revocable living trust, which means that you cannot alter or destroy Read More

Estate Planning 101: Understanding Powers of Attorney

There’s more to estate planning than arranging what happens to your assets after you’ve passed away. It also involves taking steps to protect those assets (and your loved ones) even while you are alive, especially if you’ve reached a point where you can no longer make your own decisions. Power of Attorney Explained A power of attorney is a legal document that gives someone else the power to act for you when Read More

Advantages and Disadvantages of Creating a Testamentary Trust

Trusts can be created either during or after your lifetime. Trusts that are created after your lifetime are called testamentary trusts because they are established in your “last will and testament.” The trust is described in the will and all of the terms are often found in the will. In other situations, a testamentary trust can sometimes be created by referring to another document that actually creates the trust. Read More

The 5 Most Common Mistakes in Estate Planning

Do you know about the 5 most common mistakes in estate planning? Listen to Christine's interview to find out. Read More

Estate Planning: Not Just for the Rich or Elderly!

When you think of estate planning, you probably imagine an older couple with a large amount of wealth and possessions. It makes sense that they need to get their affairs in order to properly allocate their assets after they have both passed, but what role does estate planning have for you if you’re young? Even if you’re single with no children and few assets, an estate plan is still essential for you to have. Let’s Read More