What to Do About Your Cryptocurrency in Your Estate Plan
Around 59.1 million Americans owned cryptocurrency in 2021, and this number will naturally rise as this digital asset continues to gain popularity. Big companies are investing in cryptocurrency and starting NFTs, which will continue to bring in more people to the space. In New Jersey, it's possible for you to pass on...
Update Your Estate Plan After Finalizing Your Divorce
The average age of a person going through a first divorce is just 30 years old. Even if you're at or near that age, estate planning may be the last topic on your mind. However, working with an estate planning lawyer will help you be prepared for your new future and ensure that the change in your marital status is...
Preparing for the Potential Upcoming Estate Tax Updates
In 2017, Congress increased estate tax exemption limits through its passage of the Tax Cuts and Jobs Act. Without additional legislation, these changes are temporary and will expire at midnight on Dec. 31, 2025. New Jersey estate planning lawyers warn that if you do not adjust your estate plan in advance, there may...
Peggy Sheahan Knee – Certified Elder Law Attorney
Peggy Sheahan Knee has been designated as a Certified Elder Law Attorney for another 5 years by the National Elder Law Foundation. What does this designation mean and why is it important in considering an attorney for your Elder Law needs? The National Elder Law Foundation (NELF) is the only national organization...
Discover How Undue Influence Can Affect a Will
Undue influence is one of the most common reasons that wills are contested. Learning what undue influence is and how it works can help you address this issue. What Is Undue Influence? Undue influence is defined as a situation where one person puts undue pressure on another in order to make them change the terms of...
Some Qualities to Look for in a Trustee
More than two-thirds of Americans have no estate plan, and most of those who do have only a basic will. If you believe that your estate plan should include a trust as a supplement or an alternative to a will, choosing a trustee may feel overwhelming. Fortunately, working with an estate planning lawyer helps make...
When To Consider a Spendthrift Trust
When it comes to planning your estate, providing for your loved ones is a top priority. However, concerns about their financial responsibility and potential external threats like creditors or a disgruntled spouse may arise. Fortunately, there is a solution: a spendthrift trust. What is a Spendthrift Trust? A...
When You Are the Executor of Your Parent’s Will
What To Do As Your Parent's Executor When drafting a will, many people will name one of their children to be their executor. If you have been named the executor of your parent's will, that is a big responsibility. Here are a few points to consider. Get a Copy of the Will As the executor of your parent's will,...
Why Unequal Inheritances Might Be Advisable
An Unequal Inheritance Could Be an Option for Your Children For most families who have more than one child, the division of assets in estate planning is usually relatively simple. All of the assets would be divided as equally as possible among your children. However, equal might not always be fair, and more parents...
What is a QTIP Trust?
Is a QTIP Trust Right for Your Situation? A QTIP trust is a legal vehicle through which a deceased spouse can ensure the lifetime income of a surviving spouse. An estate planning lawyer may recommend a QTIP trust when the estate of at least one of the spouses is likely to exceed the exclusion amount and therefore be...