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Having a valid will doesn’t necessarily mean you have the right estate plan. One New Jersey man’s handwritten will worked exactly as intended, but the tax consequences for his longtime unmarried partner were devastating.
You spent years building your business. You found the customers. Hired the employees. Paid the bills. Survived the slow months. Took the risks. And, in many cases, built something that supports not only your family, but your employees and their families. But what happens to that business if you die? For many New Jersey business … Continued
If you’ve been traveling around the sun for a while, you’ve no doubt heard of a Will, a document that says what happens to your money and belongings after you die. You may even have a Will, or know you should get one. And maybe you’ve heard of a Trust and wondered what it is … Continued
No one wants to think about not being here someday. But it will happen. Having an open and productive conversation with your loved ones is essential for creating transparency, trust, and ensuring your legacy goals are understood. By explaining your decision-making process and connecting it to your values, you can foster understanding and provide comfort … Continued
Creating an estate plan is crucial for protecting your family and ensuring a smooth transfer of your assets. However, there are common mistakes that can undermine your plan’s effectiveness. In this blog post, we will explore five of these mistakes to help you avoid potential pitfalls. Avoiding these mistakes requires careful consideration and the assistance … Continued
Dying without an estate plan is a real-life horror story that many people avoid confronting. The chilling truth is that accidents happen, and a significant number of individuals face the consequences of dying without proper planning. The excuses for neglecting an estate plan vary, from age and childlessness to a reluctance to acknowledge mortality. However, … Continued
October is National Estate Planning Awareness Month. Many people might miss such celebrations, but here at the Tomes Law Firm we honor it because Estate Planning is so important. You do need more than a simple will. An Estate Plan is a set of personalized instructions and documents for handling your life’s affairs if something … Continued
1) Do I need to update my estate plan when I get married? Marriage not only changes your relationship status, it changes your legal status. Regardless of whether it’s your first marriage or fifth, you must take the proper steps to ensure your plan properly reflects your current wishes and needs. Mapping out a plan … Continued