There are many reasons that may motivate one to give gifts. From an estate planning perspective, however, lifetime gifts offer significant tax advantages. The overall tax burden on the transfer of assets from one generation to the next can be significantly reduced by a planned giving program. Some of the rules that make lifetime gifting advantageous [...]
Life insurance is frequently an integral part of an estate plan. Insurance proceeds provide financial support for family members and dependents in the event of the insured’s untimely death. Life insurance is also used to provide money to pay estate taxes or other expenses occasioned by the insured’s death, particularly in situations where the insured [...]
New Jersey law recognizes that every member of the family deserves to be taken care of in your estate plan. This includes your pets. Under N.J.S. 3B:11-38, a trust for the benefit of domesticated animals may be created subject to certain limitations. If you'd like someone special to care for your dog, cat or other pet in [...]
Few conversations are more touchy than discussing a prenuptial agreement with your husband- or wife-to-be. Before raising the subject, be sure to do your homework. Know what a prenuptial agreement is, what it can and can’t do, and what you hope to achieve with it. This article from AARP offers commonsense advice from a financial [...]
