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This presentation aims to explain the basics of estate planning in the state of New Jersey.
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BASICS
ESTATE PLANNING
Every adult should have an estate plan in place.
This presentation
explains the basics.
ASSETTRANSFER
You will need to determine how your assets
will be transferred when you pass away.
Two of the most common options for transferring assets
are a last will and a living trust.
ADVANCED
HEALTH CARE DIRECTIVES
INCAPACITY strikes a significant percentage
of adults.
For this reason it is important to execute
advance health care directives.
LIVING WILL and
DURABLE POWER OF ATTORNEY
With a living will you express your choices
about life support measures.
With a durable power of attorney you name people to
make decisions on your behalf should it become necessary.
ESTATE TAXPLANNING
EVERYONE in all 50 states is subject to the federal estate tax.
In New Jersey we also have an estate tax
and an inheritance tax.
ESTATE TAXEXEMPTIONS
In 2013 the federal estate tax exclusion
is $5.25 million.
However, the New Jersey exemption is just $675,000.
POST MORTEMPLANNING
It is important to execute documents expressing your
final wishes.
However, you must also address the matter of the estate administration.
OUR FIRM CAN HELP
It takes experience and expertise
to devise an effective estate plan.
If you are ready to get started contact our firm to arrange for a
FREE CONSULTATION.contact our firm