A typical, traditional estate plan offered by many law firms has two results:
- Your loved ones pay the maximum amount of New Jersey death taxes possible.
- Your loved ones are completely unprotected after you’re gone.
On the other hand, our non-traditional planning painlessly takes care of the following for you:
- Reducing Death Taxes. If you think death taxes don’t apply to you, you’re probably wrong. New Jersey has its own separate estate tax, and it applies even to estates too small to pay federal estate tax. Without specialized planning ahead of time, the NJ Estate Tax can cause financial loss and paperwork headaches for the loved ones you leave behind. With careful planning ahead of time in a specialized will, you can reduce or completely eliminate both your state and federal tax burden.
- Protecting Your Children from their own Potential Future Divorce. The largest single threat to your loved ones’ inheritances is their own potential future divorces. Funds that were intended for your children (and grandchildren) can often instead end up in the hands of an in-law. With specialized planning in your will, however, we can create a financial safety net for your loved ones that won’t be lost, even if they someday divorce.
- Planning for Minors. If the worst were to happen and you were to leave your minor children behind, who would care for them? Who would manage the funds you left behind to finance their future education and other needs? These questions should be answered in a solid estate plan.
- Planning for Your Own Future Health Issues. If you were unable to take care of yourself, who would you want to make decisions for you? You can avoid nasty family fights in the future by planning for this ahead of time. If you were to require nursing home care, would all of your assets be lost to the nursing home and Medicaid? Pre-planning can help ensure that doesn’t happen.
- Ongoing Maintenance of your Estate Plan. If you don’t update your estate plan regularly, it becomes ineffective. Unfortunately, it’s tough to remember to dig up your documents regularly and schedule a review with your attorney. You may not even know how frequently you should do so. The solution to this problem is my optional Concierge Service, which takes all of the stress of remembering to review your affairs off of you.
- Any Other Goal or Concern of Yours. My clients aren’t generic archetypes, and often have special concerns that don’t fit into a neat box. If you have a goal or concern for your estate planning that isn’t listed here, please don’t hesitate to ask. You have my commitment to do everything in my power to help you achieve your goals and alleviate your concerns.
With the tax, legal, and financial environment constantly in flux, it’s important than ever to select an attorney knowledgeable in this very specific area of the law. I’m proud to be Board-Certified as an Estate Planning Law Specialist by the ABA-accredited Estate Law Specialist Board. This certification requires rigorous testing and continuing education standards to demonstrate excellence in wills, trusts, and estates.