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estate planning FAQ
📜 Estate Planning & Administration – FAQs
Q: What’s the difference between a will and a trust?
A: A will directs how your assets are distributed after death, while a trust can do this during your lifetime and after death—often avoiding probate and offering more control.
Q: When should I update my estate plan?
A: We recommend reviewing your p
📜 Estate Planning & Administration – FAQs
Q: What’s the difference between a will and a trust?
A: A will directs how your assets are distributed after death, while a trust can do this during your lifetime and after death—often avoiding probate and offering more control.
Q: When should I update my estate plan?
A: We recommend reviewing your plan every 3–5 years, or after major life changes like marriage, divorce, the birth of a child, or significant financial shifts.
Q: What is probate, and how long does it take?
A: Probate is the legal process of validating a will and distributing assets.
Q: Can you help with administering a loved one’s estate?
A: Yes. We assist executors and administrators with all aspects of estate administration, including court filings, asset transfers, and tax considerations.
Q: What taxes have to be paid when someone dies in New Jersey
A: In New Jersey, there is currently no New Jersey Estate Tax for individuals who die on or after January 1, 2018. However, New Jersey does have an Inheritance Tax, which may apply depending on who is receiving the assets.