What is the Meaning of Per Stirpes? Part 2
In last week’s blog post, I explained the term “per stirpes”, which is typically found in a last will and testament.  It is meant to cover the possibility that the person who I name in my will to receive a bequest has died before me.  As I explained last week, the term
In Terrorem Clauses – Enforceable or Not? Part 2
In my post last week, I explained the concept of an in terrorem clause.  These clauses are designed to discourage will challenges, however they do have limitations.  They work by providing that if someone challenges the will they would receive nothing.  This acts as a disincentive to challenging the will if the person
In Terrorem Clauses – Enforceable or Not? (Part 1)
In this week’s post I discuss in terrorem clauses, more commonly known as no contest clauses which can be found in a last will and testament.  In terrorem is a Latin term meaning “in fear”. The purpose of such a clause is to discourage will challenges. The clause states that if an heir
What Qualifies as a Last Will and Testament? Part 3
In my last 2 blog posts I have explained the elements of a last will and testament.  New Jersey law clearly sets out the requirements which, if followed, make the probate process much easier than when the law is not followed. While I am always an advocate for consulting with an experienced
What Qualifies as a Last Will and Testament? Part 2
In my blog post last week, I explained the elements of a validly executed will.  When someone dies with a will, it must first be admitted to probate before the executor named in the document can begin to do what is required to administer the decedent’s assets. In New Jersey, if the
Considerations When Leaving an Estate to Non-U.S. Beneficiaries – Part 1
In some respects, naming a non-U.S. citizen as a beneficiary of your estate is no different than naming a U.S. citizen (with the exception of a spouse). For example, while the amount that can be passed free of federal estate tax (there currently is no New Jersey estate tax) is currently
Am I Too Young for an Estate Plan or a Long Term Care Plan? Part 4
In this 4th post of 4, I continue to discuss the topic of a catastrophic illness or injury hitting a younger family.  We discussed the issues of long term care which may be needed for extended periods of time or for life.  Advances in medical science can save lives but a lot
Am I Too Young for an Estate Plan or Long Term Care Plan? (Part 3)
In this 3rd post, I continue to discuss the topics of sudden catastrophic illness or injury at a younger age than one might ordinarily expect - such as someone in their 30’s, 40’s or 50’s.  Advances in medical science have saved many people who 20, 30, or 40 years ago probably
Am I Too Young for an Estate Plan or Long Term Care Plan? Part 2
In my blog post last week I talked about a scenario we are seeing with increasing frequency.  We have had a number of what we call crisis calls relating to a family member who has experienced a sudden onset of injury or illness causing the need for long term care -
Am I Too Young for an Estate or Long Term Care Plan? Part 1
Most of the crisis long term care stories I tell here in this blog are of people in their 60’s, 70’s, 80’s and older.  They have not planned for the cost of long term care and are then beset with sudden illness or injury.  The reality, however, is that there is no