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 ...
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 ...
Will Your Estate Have to Pay to Clean up Land?
Remediation in Estate Planning Land that has hazardous materials or has been contaminated in any way that requires cleaning will be the responsibility of the owners of the land, regardless ...
A Creative Estate Plan is Priceless
Leaving Something Special for Future Generations When creating an estate plan many people focus on dividing assets and property, which is necessary. There are other things though which may have ...
Property Held in Joint Tenancy in Estate Planning
Property Held in Joint Tenancy Property which is held in joint tenancy with rights of survivorship is property held by more than one owner at the same time. All property ...
Money Changes Everything
Understanding How Assets are Divided Money, particularly large amounts of it, can wreak havoc on a family. Losing a loved one, particularly a parent, results in complicated emotions and deep ...