In the State of New Jersey, probate is handled by the Office of the Surrogate (also known as the Surrogate’s Court) established in each county. Unlike many states, the probate process is very simple. Filing requirements and appearances before probate judges are generally atypical. Notwithstanding, it is imperative to understand the probate process in New […]
CHALLENGING THE WILL AND IMPROPER LIFETIME GIFTS Historically, probate litigation revolved around two primary areas: (1) guardianships and (2) will contests. However, the type and scope of such litigation has increased due to an increasing elderly population. Due to this increase, many individuals are executing estate planning documents at an older age and at times […]
There are a myriad of issues that can confront an estate upon a Decedent’s death. Any professional who is attempting to assist in the administration of the estate must, at the very least, recognize how to spot these issues and to deal with them. 1. Determining the Continuation of Decedent’s Business Special issues arise when […]
The issue of whether or not guardians can undertake Medicaid planning on behalf of their wards has come to the forefront of New Jersey probate litigation in the past two decades. Commencing in 1995, many of New Jersey’s Superior Courts began to recognize and permit guardians to transfer assets in order to expedite their wards’ eligibility for […]
A frequently contentious area in the elder law arena is the establishment of effective fiduciary relationships. Such relationships are frequently established through powers of attorney, living trusts and other inter vivos documents. Problems frequently arise when writings, establishing these relationships, are poorly drafted and when fiduciaries are not properly selected. Such problems are further compounded […]
Estate planning for parents with disabled children is a very delicate and important proposition. During their lifetime, parents are able to provide emotional and financial support to their children. This support greatly enhances the needs-based government benefits, which are frequently utilized by the disabled, such as Supplemental Security Income (SSI) and Medicaid. When parents pass […]
A. FINAL ACCOUNTING Pursuant to N.J.S.A. 3B:10-23, the Executor under a Will or the Administrator of an intestate estate is obligated to settle and distribute a decedent’s estate “as expeditiously and efficiently as is consistent with the best interest of the estate”. After marshaling the estate assets, paying the decedent’s debts and paying an unnecessary […]
For high net-worth individuals and couples, there are a variety of transfer techniques in order to minimize exposure to death taxes. These include, but are not limited to Disclaimer Trusts, Credit Shelter Trusts, Applicable Exemption Trusts (a/k/a Credit Shelter Trusts), and Q-TIP Trusts. These Trusts, effective for use with married couples, can be utilized in […]
Any individual, who aspires to practice estate planning or elder law, must be proficient in the areas of will drafting, trusts, and basic taxation. One of the fastest growing areas of litigation throughout the country is will contests. The primary reasons for this growth are: (1) the increase in our elderly population and (2) inadequate […]
Any individual, who aspires to practice estate planning and elder law, must be proficient in the areas of will drafting and trusts, and basic taxation. Competent attorneys recognize that individual and financial factors must be evaluated prior to preparing a will or trust. An evaluation of these factors will determine what clauses should be utilized […]
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