How COVID-19 Is Affecting Business-Related Estate Planning
COVID-19 Pandemic Update: Business-Related Estate Planning Impact There are more than 30 million small businesses in the United States, and surveys reveal that more than 60% of the owners want their companies to continue succeeding after their passing. Despite that, only around 15% of small businesses survive the...
Is There a Time Limit on Your Right to Contest a Will?
Understanding How the Statute of Limitations Applies to Wills Roughly 3% of all wills are contested each year. Part of the reason for this very low will contest rate is the fact that you do not have much time at all to challenge a will. Even during the pandemic, you need to be prepared to start the will contest...
Has COVID Changed the Typical Asset Distribution Process?
What to Expect From the Asset Distribution Process During COVID-19 After someone passes away, their friends, family, and other beneficiaries do not immediately collect any bequeathed items. Instead, it takes about two months to a year, on average, for assets to actually be distributed. During COVID-19, there are some...
COVID May Be Causing More Conflicts of Interest in Estate Planning
Should You Worry About Conflicts of Interest During COVID? Did you know that estate planning is the legal field most likely to encounter conflicts of interest? A conflict of interest happens when a lawyer is trying to represent multiple connected clients, and it can lead to big issues. Being aware of how COVID...
Is COVID-19 Causing More Will Contests?
Reasons COVID-19 May Lead to Contested Wills Each year, roughly 3% of wills are contested in the United States. However, the COVID-19 pandemic is changing everything, and some estate planning litigation lawyers worry that contested will rates may be on the rise. There are a few key reasons that the coronavirus may...
The Difficulties Executors Face as a Result of COVID-19
COVID-19 Makes Being an Executor More Difficult The average executor requires 570 hours to settle the estate.* This figure represents efforts made under the best of circumstances. During COVID-19, an executor's life is now more difficult, but exercising some prudence and common sense will help them get through this...
COVID-19’s Impact on Asset Prices
How COVID-19 Has Affected Certain Assets More Than Others The initial reaction to the COVID-19 outbreak was sheer panic on the part of investors. In May, the S&P 500 dropped roughly 30% in just 22 trading days. Many estate planners are now wondering which types of assets have been most affected by the pandemic....
Setting Up a Guardianship During This Fraught Pandemic Time
Why Guardianships Are So Important During the Pandemic Having led to over 15,880 deaths in New Jersey as of August, the COVID-19 pandemic has had a great impact on estate planning. For better or worse, this pandemic is forcing many residents to grapple with estate-related decisions they may have previously neglected....
Can You Still Make Probate Filings in NJ During the Pandemic?
Making a Probate Filing in NJ During the COVID-19 Pandemic The ongoing COVID-19 pandemic has caused businesses, courts, and government agencies to alter how they operate, which has resulted in changes with how probate filings are being carried out. While the courts throughout New Jersey were able to clear more...
How the COVID-19 Pandemic Has Impacted Estate Cases
Tips for Pursuing Estate Litigation During COVID-19 On March 15, New Jersey courts suspended in-person proceedings as a result of the COVID-19 pandemic. In May, the state's Supreme Court ordered most courts to resume proceedings but in a virtual manner. If you've been thinking of pursuing estate litigation related to...