Many people, understandably, don’t want to think about writing a will. Not only does it require confronting uncomfortable subject matter (which is to say, one’s own mortality), but it can be a tedious and lengthy process as well. Going over all your property and figuring out who it should go to when you die is unpleasant in every sense of the word… but it’s not nearly as unpleasant as the alternative.
Despite the fact that the national foreclosure rate seems to be improving, year after year New Jersey continues to lead the nation in foreclosures. Recently, a bill package has been advanced by the New Jersey State Senate that seeks to address the state’s foreclosure crisis. Continue reading “Proposed New Jersey Legislation Seeks to Combat Foreclosure Crisis”
Due to economic pressures, weather, and employment opportunities, more Northeast residents are looking to move out of state. According to a recent LendingTree study, as many as 17.5% of New Jersey residents are looking to move out of state. What is New Jersey residents’ most common destination state of choice? Florida. Regardless of whether or not you’re looking to move to the sunshine state or another state of choice, it is important to determine how the move will affect legal relationships that were established in New Jersey such as guardianship of another person. Those who have established a guardianship and are looking to move out of state should seek the guidance of an experienced New Jersey guardianship lawyer who can advise them of their legal rights and help guide them through the transition. Continue reading “Transferring Guardianship Across State Lines”
While college education has been seen as not only a rite of passage but also necessary in order to enter into many areas of workforce, the costs associated with it can be overwhelming. In recent years, the costs associated with higher education have come with a hefty price tag and are projected to continue to rise over the next few decades. According to The College Board, in 2017, the average cost for tuition, fees, and room and board for a four-year private college is a whopping $118,000. If the college-cost inflation rate is 3 percent, today’s 8-year-old can expect to pay $265,000 for four years of higher education at a private college in 2028. With the costs of college looming for current and future generations, more grandparents are looking to support their grandchild’s higher education expenses in their estate plans. Continue reading “Including a Grandchild’s College Tuition in Your Estate Plan”
A LightStream Survey conducted by the Harris Poll showed that those in Generation X (ages 36 to 51) carry an average nonmortgage debt load of $30,334 — the highest of any other generation. Boomers (ages 52 to 70) have the second-highest amount of debt with $27,513, followed by Millennials ($22,784) and Generation Z ($6,983). Continue reading “Generation Xers Have Highest Debt Load”
As like in any negative situation, it is important to attempt to stay positive. It is important to not feed into the negativity that surrounds you. Instead, try to surround yourself with supportive people, like family and close friends. These individuals will be able to help you through the process. Continue reading “Five Tips for Going Through a Divorce”
Unfortunately, many individuals across the United States and in the state of New Jersey face extremely difficult financial conditions which significantly affect their way of life. For some, filing for bankruptcy may be the best (or only) option to relieve themselves of their financial burdens. Federal bankruptcy laws allow individuals who qualify to have a fresh start. Continue reading “Filing for Bankruptcy in New Jersey”
If a parent is unable to care for a child or is determined to be unfit, the guardianship of the child can be granted to a relative or family friend. Guardianship can be defined as the position of being legally responsible for the care of someone who is unable to manage their own affairs. This provides a viable option for the child to be removed from the home and be relieved of neglectful behavior by their parent(s). Continue reading “Obtaining Guardianship of a Minor in New Jersey”
Alzheimer’s Disease is a neurodegenerative disorder that affects cognitive functions, including memory, thinking, and behavior. According to the Alzheimer’s Association, there are currently 5.7 million Americans living with Alzheimer’s Disease and, by 2050, that number will increase to nearly fourteen million. The association claims that Alzheimer’s disease is the sixth leading cause of death in the United States. Continue reading “Early Warning Signs of Alzheimer’s and the Need for Advanced Directives to be in Place”
- Expenses for the decedent’s funeral;
- Administration expenses, which includes legal fees, probate fees, and appraisals among others;
- Money owed to the government such as estate and income taxes; and
- Real property taxes that were accrued prior to the decedent’s death.