A power of attorney is a written document that enables an individual, known as a “Principal” to designate another person, known as an “Agent” or an “Attorney in Fact,” to act on behalf of the Principal.  The general purpose of a power of attorney is to permit the Agent to act on behalf of the […]

10 Tax Items That Often Get Overlooked Blake R. Laurence, a partner in the firm’s Tax and Estate Planning department, uncovers some tax deductions you might not have considered before. The tax code is filled with various nuances that allow a taxpayer certain deductions. However, they are not well publicized and many people miss those […]

After much discussion and political deal-making, on October 14, 2016, Governor Chris Christie officially signed legislation implementing a new tax package to raise money for the Transportation Trust Fund to help repair New Jersey’s roads, bridges and various other infrastructure. Although the increase in gas tax is what caught the attention of most people, this […]

As you may recall, I am the parent of a 21-year-old disabled child.  I recently had dinner with a friend of mine who also has a 21-year-old disabled child.  We were speaking about the upcoming election.   She shared with me that another acquaintance of ours had registered her 23-year-old disabled child to vote.  My friend […]

In a will, one must appoint the people who are charged with carrying out the intentions of the testator.  The people you select should be dependable and understand their roles.  These people are called “fiduciaries.”  The fiduciaries include the executor, the trustee and a guardian. The executor is the person who carries out or executes […]

We continue now with a review of specific areas of the will, including residuary clause provisions, unlimited marital deduction requirements, disclaimer trusts, testamentary trusts and special need trusts, if necessary. ——- The next portion of the will is generally the residuary clause where the rest of the estate is left to the ultimate or contingent […]

Congratulations! You have successfully navigated childhood and are now ready to send your 18 year-old into the world.  It is an exciting time but are you ready?   You are probably busy with proms, graduation parties and shopping for the new dorm room.   However, when you look at your checklist of things to do, are you […]

In the last installment, we covered issues concerning when wills should be revised and the differences between treatment of probate and non-probate assets.  In this installment, we will begin by defining the persons in the will and then move on to a basic review of certain areas of the will. Let’s begin by defining the […]

Each time we complete a client’s estate plan, we recommend that they revisit the plan annually at tax time to determine whether or not their financial position has changed from years prior. We also recommend the client review all of their estate planning documents at least once every three (3) years.  The key is determining […]

If your child is at least 18 years of age, has a disability which manifested before age 22, has been receiving SSI and Medicaid as a result of this disability and has a parent who subsequently dies, becomes disabled or retires, your child may lose their SSI and Medicaid if he or she begins receiving […]