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Going Bankrupt Isn’t the End of the Line

When you are deep in debt and considering bankruptcy, it can seem almost like the end of the world. With your finances underwater, with more debt than you can reasonably handle, declaring bankruptcy can feel like giving up, and you might not know how to climb back up. Fortunately, however, bankruptcy can be the first step to recovering your financial future, provided you are prudent about how you handle yourself. Continue reading “Going Bankrupt Isn’t the End of the Line”

What is a Living Trust, and Why Would You Want One?

In the context of estate planning, you might sometimes hear about “living trusts,” also called revocable trusts or inter vivos trusts. Living trusts are useful tools for anyone trying to plan for their future under certain circumstances, as they can allow you to fully marshal all assets of your estate prior to your death in lieu of having a last will and testament. Living trusts can create some security for you and your loved ones, since you direct how the trust will be managed and distributed according to your wishes even when you are not there to take care of your family anymore. Continue reading “What is a Living Trust, and Why Would You Want One?”

The Fiduciary Duty of an Estate’s Executor

When a person dies with a last will and testament, it becomes the duty of someone (usually someone dictated within the will itself) to execute the will of the deceased. On the one hand, it is an honor to be trusted with carrying out someone else’s will. On the other hand, it comes with a lot of work and potential liabilities, and it can be helpful to know what you’re getting into, in case you or someone you know is making a decision about who they want to be the executor of their estate. Continue reading “The Fiduciary Duty of an Estate’s Executor”

Bankruptcy, Credit and You

Bankruptcy, Credit and YouWhen you’re deep in debt, it can feel like there’s no way out. Bankruptcy can offer relief by discharging some or all your existing debts, but many people fear the effect that declaring bankruptcy will have on their credit ratings. After all, declaring bankruptcy can impact a person’s credit, making it harder to do things like getting credit cards, applying for loans or looking for a new apartment or home. Continue reading “Bankruptcy, Credit and You”

Writing a Will is a Little Headache Now, to Stop a Big Headache Later

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.

Continue reading “Writing a Will is a Little Headache Now, to Stop a Big Headache Later”

Proposed New Jersey Legislation Seeks to Combat Foreclosure Crisis

foreclosure lawyer New JerseyDespite 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”

Transferring Guardianship Across State Lines

guardianship lawyer New JerseyDue 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”

Including a Grandchild’s College Tuition in Your Estate Plan

estate plan lawyer Wayne New JerseyWhile 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”

Generation Xers Have Highest Debt Load

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”

Five Tips for Going Through a Divorce

divorce lawyer New JerseyDivorce proceedings are stressful and emotionally taxing. If you are in the middle of a contentious divorce, here are five tips to help you through the process:

 

Stay Positive

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”