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Money

Do’s and Don’ts in Estate Planning

Do’s and Don’ts in Estate Planning
BY JAY. J. FREIREICH, ESQ.
SPECIAL TO NEWJERSEYNEWSROOM.COM

From my years planning estates and seeing what other attorneys have done for clients, both good and bad, this article is to set forth the good, the bad and the ugly in estate planning:

THE GOOD

Spend the time and effort planning. Most people spend their lifetimes accumulating their wealth but almost no time planning for their wealth after their passing. Engaging in proper planning is the number one priority. Make sure to obtain competent legal advice. If your estate may be large enough to have tax implications, be sure to utilize an attorney with an advanced degree in taxation called an LL.M. in Tax.

A basic plan should include at least a last will and testament, a power of attorney and a living will (also known as advanced directive or health care proxy). A more elaborate plan may also include trusts and other tax saving devices. A living will enables your loved ones to follow your pre-set wishes concerning being kept alive by artificial means rather than causing them to agonize over whether you would have wanted to be kept alive by artificial means. A durable power of attorney will allow someone you specifically designate to handle your affairs if and when you become disabled or incapacitated. Having such a power of attorney can avoid the delays, uncertainties and costs of a guardianship proceeding.

 

N.J. Senate Majority Leader Weinberg to NJSEA, Treasury: ‘SHOW ME THE MONEY’

N.J. Senate Majority Leader Weinberg to NJSEA, Treasury:  ‘SHOW ME THE MONEY’
BY TRISH GRABER
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – New Jersey Senate Majority Leader Loretta Weinberg is calling on the New Jersey Sports and Exposition Authority and the State Treasurer to prov...

N.J. Senate Urges Rejection of Exxon Settlement

N.J. Senate Urges Rejection of Exxon Settlement
BY RICHARD McGRATH
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – The Senate on Monday (March16) officially urged the rejection of a $225 million settlement in a $8.9 billion lawsuit brought by the state ag...

Governor Christie On Taxes: We Need To Wake Up

Governor Christie On Taxes: We Need To Wake Up

Gov. Christie didn't mince words when he spoke of the tax problems in New Jersey.

Gov. Christie : A lot of these tax burdens on these businesses, we created them to say listen, we don’t have the money t...

Advance Newspapers Laying Off More Journalists in New Jersey

Advance Newspapers Laying Off More Journalists in New Jersey
BY BOB HOLT
NEWJERSEYNEWSROOM.COM

Some struggling New Jersey newspapers are teaming together in an effort to remain relevant today.

The relatively new company NJ Advance Media will soon be expanding into...

NJ Pension System: $600 Million in Management Fees is Questioned

NJ Pension System: $600 Million in Management Fees is Questioned
BY JENNIFER SCIORTINO
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – Assembly Budget Committee Chair Gary S. Schaer on Tuesday (March 10) questioned the $600 million in management fees the State Investment ...

4 Reasons New Jersey Has High Auto Insurance Rates

4 Reasons New Jersey Has High Auto Insurance Rates
BY BOB HOLT
NEWJERSEYNEWSROOM.COM

Good news: New Jersey is among the leading states in another service across the United States.

The bad news is: New Jersey latest ranking involves the highest auto insur...

N.J. Legislation Aims to Increase Financial Stability for Senior Citizens

N.J. Legislation Aims to Increase Financial Stability for Senior Citizens
BY TOM HESTER
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – Legislation Assemblyman Joseph Lagana sponsored to help ensure that senior citizens can afford to continue living in New Jersey was approved 39-0...

Lesniak Makes ExxonMobil Damage Report Available, Launches Petition Drive To Stop Depleted Settlement

Lesniak Makes ExxonMobil Damage Report Available, Launches Petition Drive To Stop Depleted Settlement
BY JOE ORLANDO
SPECIAL TO NEWJERSEYNEWSROOM.COM

ELIZABETH – Senator Raymond Lesniak made the ExxonMobil environmental damage report prepared available and announced a petition drive to force the governo...

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