If you are considering setting up an estate plan, you may feel overwhelmed by the different options you have. For example, you could be unsure whether a will is ideal, or a trust would be more appropriate given your unique circumstances. Even if you have decided to move forward with a trust, there are various types of trusts, so it is essential to find one that is right for you and those you love. Depending on the details of your loved ones' lives, a special needs trust may be best. Before moving forward, it's important to go over some of the basic benefits of this option.
For a parent, legal issues involving the custody of a child can be especially tough and may make a recent divorce even more difficult to work through. Furthermore, there are other ways in which these matters can change a parent’s life. For example, you may need to revisit your trust or will following a recent custody dispute. As with all legal issues involving your finances and children, it is paramount to make sure that the correct approach is taken.
Everyone goes through changes in their life. Your family grows, your business succeeds, you buy a new house. The last thing you might be thinking about through all of these events in your life is what will happen if you were to pass on suddenly. But it is important.
Residents of New Jersey who are faced with a situation in which calls for making legal or medical decisions for a minor or incapacitated adult may want to consider establishing guardianship. Although not appropriate for all circumstances, a guardianship can provide certain protections for both the guardian and the person needing guarding.
With the end of your marriage, life could change in an assortment of ways. The financial consequences of divorce may need to be considered before filing a petition, from property division to child support. Divorce can also, of course, result in significant changes within a person’s family life, such as child custody matters. However, it is important to look at some of the other ways that bringing your marriage to an end can affect your life. For example, if you have a living trust that you set up with your ex-spouse, you may need to revoke the estate plan and set up a new trust.