A probate is the court proceeding wherein the deceased’s property is distributed according to the terms of his or her last will and testament, or according to law if there was no will. Typically, in New Jersey, there is a probate lawyer who helps with the court proceeding who charges for the probate of an […]
Trusts & Estates
Verbal Bequests in New Jersey
Q: Do I have any rights to property such as a car that was promised to me upon someone’s death but wasn’t written into the will? The answer is no. If the promised was documented somehow and he delivered the title to you before he died and signed the title, then the gift may be […]
What is a living will?
There was a well-known case in the late 1970s in New Jersey, in fact in Sussex County, involving a woman named Karen Ann Quinlan [In re Quinlan, 70 NJ 10 (1976)]. At the time, there was no advance directive in New Jersey. She was a young woman who overdosed at a party and slipped into […]
What does the financial power of attorney do?
The financial power of attorney can be in two forms. First, it can be a general and durable power of attorney. What that means is that the power of attorney upon execution gives immediate authority to the representative to handle the financial affairs of the person, or second, it can be a springing power of […]
How do you revoke a durable financial power of attorney in New Jersey?
To revoke a durable financial power of attorney in New Jersey, you typically do one of two things, or both. You send a letter to your designated representative saying something to the effect of, “Please be advised, I hereby revoke the power of attorney dated ___, pursuant to which you were appointed as my attorney.” […]
What are the elements of a typical estate plan?
Each case is different but typically people come in if they don’t have a will and we have them complete a comprehensive fact sheet which lays out a summary of their financial assets, real estate and life insurance, as well as anything that the people may own separately, if the estate plan if for spouses. […]
What Are the Dangers of Preparing My Own Will?
There are a number of websites that have a forms you can fill out to prepare your will. However, every state has its own requirements with respect to the execution of a last will and testament and it’s very easy to run afoul of those requirements on a website that uses a generic one-size-fits-all template. […]
Why Is a Will Important?
Merrill Lynch found in a recent study that nearly half of Americans over 55 don’t have a will. A will is important because it allows you to dictate and control what happens to your assets upon your death. If you don’t have a will, the state you’re living in will dictate what happens to your […]
