When it comes to estate plans, each person is in a unique position and this is also true for those going through a divorce. Some people, such as those who have a high net worth, may face an especially difficult time when dealing with these legal matters. Whether you are approaching a high-asset divorce for the first time or you have already split up with your spouse, it is crucial to make sure that you are prepared and able to make the best financial decisions. Our law firm understands how challenging this can be for those living in Ocean County and across New Jersey, but reviewing your options could prove tremendously helpful.
High-asset divorce and your will
Addressing power of attorney misconduct
It is very important to identify the right candidate when it comes to establishing a power of attorney, as we recently covered on our blog. Unfortunately, some people abuse the power they have and it is extremely important for power of attorney misconduct to be addressed right away. In Ocean County and other parts of New Jersey, this misconduct may take various forms and it can create many challenges for those whose rights are not respected. Whether you have set up a power of attorney for yourself or one of your loved ones or friends has a power of attorney, you should take action if you suspect abuse.
Responsibilities associated with guardianship
Whether someone suffers a stroke, develops dementia or experiences some other major challenge that leaves them incapacitated, guardianships can be a great way to ensure that loved ones who are not capable of caring for themselves any longer are taken care of. Our law office knows how emotional this process can be for families in Ocean County, New Jersey, and we strive to provide people who are facing these challenges with the support they need. If you are thinking about obtaining a guardianship in order to provide one of your loved ones with the support they need, it is crucial to be aware of the responsibilities you may take on.
What are some grounds to pursue Quiet Title Action?
When it comes to property division in New Jersey, many citizens have some complications arise as they try to claim ownership of the property. If more than one person is legally entitled to certain land or property, one of them can try to file a Quiet Title Action lawsuit in order to obtain sole rights to it.
Problems you may encounter as an executor
If you have been named the executor of a loved one's estate, you could have many different questions. Moreover, there are a number of responsibilities you should be aware of and it is important to make sure that you take care of these obligations. Sometimes, unforeseen hurdles can also arise, such as a dispute which involves your family members and beneficiaries. For example, you may be accused of the breach of your fiduciary duties and this could have a significant impact on your life. Preventing these problems is vital and it is also crucial to handle them properly in the event that they surface.
A closer look at charitable trusts
When it comes to trusts, there are various options on the table for many people, from special needs trusts (which we have discussed on this blog) to spendthrift trusts and many more. It is important for you to pinpoint the type of trust that will match your needs the most and this can be tricky since there are many factors that may need to be reviewed. Moreover, the ins and outs of each type of trust can vary quite a bit and some offer unique advantages. In this post, we will look into charitable trusts.
