The phrase “estate planning” incorporates a variety of legal issues ranging from the most common estate planning document, a Will, to special needs trusts, Medicaid planning and a host of other documents which serve to preserve your assets and provide for your loved ones. These documents, along with your understanding of the purpose they serve, reflect your estate plan. Our attorneys do not just prepare documents, but instead, educate our clients about how each document serves a purpose in their estate plan and thereby furthers their individual goals. When it comes to estate planning, no two clients are the same. Some focus on the tax savings generated by effective planning, others on asset preservation and creditor protection and still others focus on preserving family harmony. We listen to our clients and explain the options available to them. When considering your estate plan a variety of issues may arise, such as:
How do I provide for my children of a prior marriage?
How do I ensure that a minor child or a child with special needs will be provided for during their lifetime when I’m no longer around?
Is my estate subject to New Jersey Inheritance tax, Estate tax and/or Federal Estate tax and can lifetime gifting or effective estate planning serve to reduce those taxes?
Are the proceeds from a life insurance policy taxable to my estate?
What is a Revocable Living Trust and do I need one?
How does jointly owned real property and bank accounts affect my estate plan?
The answers to these common questions provide our clients with an understanding of the value they derive from our services. For some, the questions are more complex but no matter how simple or complex, our attorneys seek to foster the trust that encourages our clients to ask questions.