This is called dying intestate and if you die without a Last Will and Testament as a resident of the the State of New Jersey your estate will be distributed according to the New Jersey laws of intestacy. Since there is no will to probate, your nearest living relative who…
Under New Jersey estate planning law, a living will, which is legally called an advanced directive, allows a person to give instructions for what care she is to receive her health is extremis. A living will must be in writing, signed and dated before two adult witnesses who attest that…
A self-cancelling installment note (“SCIN”) can be used to sell a business interest, stocks, real estate or other types of assets, usually to a family member of the current owner. This is a variation of an installment sale where the remaining payments are cancelled upon the death of the note…
The short answer is yes. Your will ensures that: • your assets are given to those whom you want to receive them; • you can control the way in the which your assets are distributed (for example, establishing a trust for the protection of a beneficiary, and designating the trustees);…
An estate plan carries out a person’s wishes at the time of their death and appoints people to make decisions during life. An estate plan commonly consists of three main documents: • Last will and testament • Durable power of attorney • Living will and health care proxy (medical power…