Traditional Wills Don’t Cut it Anymore

A typical, traditional estate plan offered by many law firms has two results:

  1. Your loved ones pay the maximum amount of New Jersey death taxes possible.
  2. 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. Frequently I see someone who has worked hard and saved all their life to accumulate a legacy for their children believe they’ve done the right thing by doing some traditional estate planning ahead of time. But when they pass, their loved ones are shocked to find out that their inheritances have been reduced by tens or hundreds of thousands of dollars in unnecessary taxes. The good news is that with a special Tax Advantaged Estate Plan, we can reduce these taxes to the minimum, ensuring that more of your hard-earned assets pass to the ones you love.
  • Protecting Your Children from their own Potential Future Divorce. The modern reality of divorce is even more of a threat than taxes to the legacy you’ve built for your loved ones. With a traditional estate plan, your children’s inheritances can be raided by their in-laws after you’re gone. With the modern divorce rate around 50%, it’s very possible that your hard-earned dollars could be ripped from the ones you love, and instead diverted instead to your child’s ex-spouse. Money that your children may have otherwise used for your grandchild’s college education could then be wastefully spent by an in-law. Thankfully, by instituting one of our firm’s Bloodline Trusts ahead of time, inheritances can be totally protected in the event any of your loved ones ever become divorced.
  • 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? Would your family fight over these matters, tearing them apart during an already stressful time? A solid estate plan should make sure this doesn’t happen.
  • Planning for Your Own Future Health Issues. When many people reach the point where they are physically unable to care for themselves, two things happen: assets earned over a lifetime of hard work are lost almost immediately to cover the costs of long term care, and family members fight over who should manage the necessary medical and financial matters. Pre-planning is the answer to both of these problems.
  • 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.