Category Archives: Trusts, Wills and Probate

Create the Living Will you and your Loved Ones Need Today

By | May 7, 2008

Everyone has heard about a case involving a dispute over life-prolonging medical procedures. The stress and anxiety such decisions entail are impossible to imagine until you are burdened with having to make them. The only possible worse scenario is being prevented from carrying out your loved one’s wishes regarding life support treatments and care. One way to spare… Read More »

It’ll Never Happen to Me: Why Every Person Should Have a Living Will

By | November 8, 2007

Should you enter a persistent vegetative state, become terminally ill, or enter into an irreversible coma, a Living Will ensures that your wishes, regarding your care, will be met, should you not be able to speak for yourself. Read this article to find out more.

Preparing for the Day No One Wants to Think About

By | June 4, 2007

Planning for arrangements in the event of your death may seem like a daunting, and even creepy task, but the peace of mind you’ll get makes it worth it. Who knows, it may even tack on a few extra days to your life. First off, whether they’re in a file folder in your home or in a bank… Read More »

Estate Tax Dispute Procedures

By | July 9, 2002

It is a widely held belief that one of the most unfortunate circumstances in modern society is to have a tax return selected for audit by the Internal Revenue Service (Service). Estate tax returns are subject to audit and adjustment like any other tax return. Under current law, an estate tax return must be filed by the Personal… Read More »

Qualified Personal Residence Trust (QPRT) reeserves the use of a residence

By | July 9, 2002

A Qualified Personal Residence Trust (QPRT) is a trust in which the person establishing the trust, call the Grantor, reserves the use of a residence (either the Grantor’s primary residence or a seasonal residence) for a specified term of years. In the trust agreement, the Grantor designates the individuals who will be entitled to the property at the… Read More »

The Most Frequent Estate Planning Mistakes

By | June 5, 2002

Underestimating Exposure to Estate Taxation Often people do not believe they are worth enough to be subject to Federal Estate Taxation. If your estate is larger than $1,000,000, the estate tax begins at 41 percent! It is common to hear a person undervalue real estate, especially in this portion of the country (Bergen and Passaic counties in New… Read More »

Choosing a Fiduciary

By | June 3, 2002

Your fiduciary is an integral part of your estate plan. Who should you appoint to coordinate your affairs upon incapacity or death? Consider these questions when making the selection: What are the responsibilities of my fiduciary? The fiduciary you select should be capable of handling the responsibilities of the appointed role. Personal Representatives and Trustees are charged with… Read More »

Qualified Personal Residence Trust

By | May 30, 2002

An Overview The Qualified Personal Residence Trust (often referred to by its acronym, “QPRT”) can be an effective estate planning technique for a high net worth individual. The concept is simple: the owner of a personal residence transfers it to a trust, but retains the right to live in the residence for a specified period of years. At… Read More »

Charitable Remainder Trusts

By | May 30, 2002

A charitable remainder trust (CRT) funded during the grantor’s lifetime can be a very effective financial planning took, providing the grantor valuable lifetime benefits. Take the case of 72 year-old Phillip Philanthropist who has $1,000,000 of highly appreciated tech stock. Phillip has charitable inclinations, but is worried about the rising cost of health care. He feels he cannot… Read More »

Dynasty Trusts

By | May 30, 2002

An Overview Dynasty Trusts are specialized irrevocable trusts designed to shelter assets from transfer taxes over multiple generations, while at the same time allowing your heirs to enjoy the fruits of those assets. Typically, after estate taxes and other settlement costs are paid, most people leave the bulk of their estate outright to their children. The children then… Read More »