Joint Account vs. Payable on Death Accounts The main difference between a payable on death bank account and a joint bank account is the control of the account while the ...
Pay On Death Bank Accounts in Estate Planning
Pay On Death Bank Accounts Property and assets can pass to your beneficiaries without a will and without probate (the court process for closing an estate). One way to leave ...
What is a Trustee’s Duty?
Trustee Duties A trustee has a special duty to care for assets in a trust and to make sure the assets are used for the stated purposes in the trust ...
Leaving Personal Property-Part Two
What Do Your Children Cherish? Now that you have given some thought to what you would like to happen to the personal items which you prize, take this opportunity to ...
Leaving Personal Property—Part One
Your Personal Property Has Sentimental Value Everyone has special personal property that is more cherished for its sentimental value than for its cash value. Having a plan for leaving sentimental ...
New Jersey Uniform Transfer to Minors Act (UTMA)
New Jersey UTMA New Jersey, like all states, has UTMA laws which set restrictions on how and when assets may be distributing to minors. Many states have UTMA laws which ...
Uniform Transfer to Minors Act (UTMA) in New York
UTMA in New York UTMA laws in New York are designed to help protect assets left to minors. The UTMA laws determine limits and guidelines for when minors may receive ...
Estate Income Tax Returns
Estate Income Tax Even after a person passes away, he may continue to receive income. There may be income from a business, or rent, or interest from a bank account ...
Tax Returns for a Surviving Spouse
Filing Status In the tax year in which a spouse dies, the surviving spouse may file a joint income tax return as long as the surviving spouse did not remarry ...
Using Trusts to Protect Estate Assets
A variety of trusts exist for many different purposes. Some people have established trusts in order to protect assets from being overly taxed once they are gone. Some estate taxes ...