Your New Jersey Wills, Trusts, and Estates Explained Simply : Important Information You Need to Know for New Jersey Residents

by Ashar, Linda C.

• ISBN13: 9781601384201
• ISBN10: 1601384203
• Format: Paperback
• Copyright: 2012-12-31
• Publisher: Atlantic Pub Co

Summary

Few people want to think about what would happen to their family if they become disabled or die; however, planning for these occurrences in advance will reduce potential stress on your family later in life. This new book will take the guesswork out of planning your estate and help you finally understand the complex processes.

Table of Contents

Introduction: Estate Planning: What is It?	p. 9
Getting Started	p. 11
Estate Planning Simplified	p. 12
Everyone Dies: A Simple Statement with Complicated Implications	p. 13
Money Talk	p. 15
I Do What with All This?	p. 16
Here and Now	p. 20
What This Work Can Do	p. 25
What Exactly is Involved	p. 26
Estate-Planning Basics	p. 31
Debunking Myths	p. 33
Your Estate	p. 36
People	p. 38
Who Will Carry Out Your Wishes in Your Place?	p. 47
People of Influence	p. 55
s Components of an Effective Estate Plan	p. 59
Legally Speaking	p. 60
Defining Your Estate	p. 64
Pass the Parchment	p. 64
s Taxes	p. 79
Federal First	p. 80
Now for the State	p. 85
When, Not If, You Pay	p. 87
Wills	p. 99
Will Basics	p. 100
Wills Defined	p. 101
The "Other" Will	p. 109
People Speaking for You	p. 111
Change and Your Will	p. 113
Trusts	p. 115
What is a Trust?	p. 116
Types of Trusts	p. 121
Pros and Cons of Forming a Trust	p. 126
Insurance	p. 129
Insurance for Here and Now	p. 131
Insurance for After You Are Gone	p. 140
Varying Beneficiaries	p. 142
s Retirement Accounts	p. 145
Your Nest Egg	p. 146
IRAs and Then Some	p. 150
Your Government Nest Egg	p. 152
Protecting Your Eggs	p. 155
Retirement/Estate-Planning Strategy	p. 156
Setting Priorities	p. 161
Your Own Who's Who	p. 162
Memory Lane	p. 167
Your "People"	p. 170
Must-Do List	p. 172
Chapter 10s Choosing Who, What, How, When, and Why	p. 175
Who and When: The Matching Game	p. 176
When: Today, Tomorrow, or Later?	p. 179
How: The Professionals	p. 181
Planning Your Estates: Last Will and Testament in New Jersey	p. 189
Elements of a Valid New Jersey Will	p. 190
Changing Your Will - Codicils	p. 194
Will Revocation	p. 196
Beneficiaries, Debts, and Entitlements	p. 197
Bequests to Minors	p. 198
Spousal and Family Allowance	p. 199
Intestate in New Jersey	p. 199
Death Taxes	p. 200
How Your Will Might be Challenged	p. 200
A Different Type of Will - Your Living Will in New Jersey	p. 201
Keeping it Current	p. 203
What Changes?	p. 204
What Does "Maintenance" Look Like?	p. 206
What to Go Over	p. 210
Your Desk	p. 211
One Last Motivator: Probate and You	p. 213
Conclusion	p. 221
Estate-Planning Worksheets	p. 223
Your Estate in Black and White	p. 223
Prioritization	p. 226
Who, What, How, and When	p. 227
Essential Documents and Accounts Inventory	p. 228
Party Planning with an Unusual Twist	p. 247
Estate-Plan Summary Sheet	p. 249
Annual To-Do List	p. 251
Glossary of Terms	p. 253
New Jersey Advance Directive Forms	p. 275
Bibliography	p. 283
Index	p. 285
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