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Estate Planning

Price and Price: Highly skilled New Jersey attorneys who help families create well-crafted estate plans

When you have an experienced New Jersey estate planning attorney on your side, you will feel confident knowing your assets are preserved. You can rest easy knowing your property and money will be passed down to the people you have chosen - and the process is completed strictly on your terms.

Unfortunately, some people make poor planning choices - or fail to do any estate planning. When this happens, the consequences can be disastrous. Healthcare costs and taxes can lead to a dramatic drop in the value of your estate. Your assets may be distributed improperly or delayed.

You can ensure your estate planning is completed the proper way by contacting Price and Price, LLC, South Jersey's premier elder law firm. Serving communities in Gloucester, Camden, Burlington counties and all of Southern New Jersey, Price and Price has worked hard to build a reputation as an honest and respected law firm dedicated to serving the needs of families. We have almost 100 years' of combined experience.

The following are some of the legal matters that may come up while assisting you with estate planning:

How will Price and Price help with my estate planning needs?

At the top of this page we have listed some categories of estate planning. If your situation matches one of the categories, please click on the link and fill out the contact fields. If you don't see your issue on this page, please contact us immediately to tell us about your special circumstances. We want to hear from you and help guide you.

When we meet with clients, we begin by evaluating their situation. Because no two individuals will have the same needs, we won't take a cookie-cutter approach. We will craft a custom approach that puts your interests first.

Our clients find out quickly that we are highly knowledgeable about estate planning and elder law in New Jersey. We focus exclusively on these types of cases and have the resources and experience to represent a client who needs help with planning an estate, no matter how large or small it might be.

To read more about estate planning, see the following articles:

FAQs about Estate Planning in New Jersey

We know you probably have many questions about estate planning. We invite you to read our frequently asked question section below. If you don't see your question, please call us to arrange a consultation. We would be happy to hear from you and help you explore your options. Call 866-922-7489 or fill out the contact field on this page.

Why should I have an estate plan?

Everyone should have an estate plan because without one the State of New Jersey intestacy statutes will determine who will receive your assets upon your death. Also, the court will appoint the person who will administer your estate. That could result in people having control of your estate who you would not have picked if you made the choice yourself. Finally, an intestate estate (i.e., someone dies without a will) often will incur increased fees and costs due to the uncertainty that would result by not having a proper plan in place.

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Why do some people mistakenly think that they don't need an estate plan?

The most common reason people give us for not having an estate plan is they think that since they don't have a lot of assets they don't need to worry about planning. This simply isn't the case. Most often the people who don't plan end up paying the greatest amounts of money in fees and expenses regardless of the size of their estate. Not having an estate plan is equivalent to not having a retirement plan or career plan in place. It's just too important, not to mention too expensive, to leave up to fate.

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What documents are typically included in an estate plan?

Estate plans typically consist of any combination of wills, power of attorneys, living wills and trusts when appropriate. A thorough estate plan will also help coordinate retirement funds, beneficiary designations on bank accounts, IRAs and life insurance policies.

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What happens if I die without a will?

If you die without a will, your estate will pass in the manner set forth by the State of New Jersey in the intestacy statutes. If your estate needs to be probated it can take more time and incur more costs than a properly planned estate. In addition there is an increased possibility of conflicts arising among your beneficiaries. Unfortunately dying without an estate plan can make things very tough on your beneficiaries at a time when they're already under a lot of stress and dealing with your loss. If you would like more information on the benefits of estate planning - don't hesitate to contact the law firm of Price and Price for a consultation.

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How can proper estate planning help protect my assets from creditors?

One of our experienced estate planning attorneys will be able to apply many different techniques and tactics to protect your assets from excessive taxes and creditors. When people neglect their estate planning, they often expose themselves to taxes and creditors they otherwise could have avoided.

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Who should I select to be my Executor or Trustee?

The most important factor in selecting executors and trustees is trust. This person should also possess basic financial skills. It may be best to nominate a family member, but sometimes professionals are better suited. Call us at Price and Price if you have concerns over appointing a family member. We can help you make the right decision.

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How do I make a change to my will or other estate plan documents?

Any revocable documents can easily be changed by contacting our firm and notifying us of the desired changes. We will work with you to make sure your changes are appropriate and accurately reflect your wishes.

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What should I do if a parent dies without a will?

When a parent passes away without a will, one of the first things you should do after you've completed the funeral proceedings is call an experienced elder law and estate probate attorney who can give you the step by step checklist of what needs to be done based on your unique situation. We understand that this is a difficult time for you and dealing with a number of financial and tax issues while going through emotional turmoil can be daunting. At Price and Price we will provide you with the care and guidance necessary to ease your stress and confusion during the probate and estate administration process.

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What are the main benefits of estate planning?

A well drafted estate plan can help you to avoid conflicts between your beneficiaries; protect your assets from creditors and taxes, the government; ensure your medical wishes are followed; ensure your estate will be managed correctly in case you are incapacitated; help make crisis situations like setting up hospice care less of a crisis; and ensure your intended beneficiaries will receive your assets.

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What type of trust is best for me?

There are too many different types of trusts to review them all here. Trusts are commonly used for the following:

  • Avoid probate
  • Handle out of state property
  • Provide for minor children
  • Protect assets from creditors
  • Reduce taxes
  • Plan for incapacity

The best trust for you, if one is appropriate at all, is going to depend on your specific goals. We have 40 years' combined experience in elder law and would be more than happy to help you decide if you need a trust and, if you do, which trust is right for you.

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What is the role of Executor?

In general, the basic role of the executor is to collect the assets of the deceased individual, pay the debts of the estate, pay taxes owed by the estate and distribute remaining assets to the beneficiaries. That is a very general overview; many other tedious details often have to be managed. We have 40 years' combined experience helping executors through the probate and estate administration process. We'd be happy to help take some of the burden off of your shoulders and help you manage your loved one's estate.

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What is a Last Will and Testament?

A last will and testament is a document through which a person, called a testator, directs what is to be done with her real and personal property at the time of her death. As long as the testator has capacity she can change her will at any time.

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What is a Living Will?

In New Jersey, a living will, otherwise known as an advanced directive with health care proxy, is a set of instructions regarding any and all life-sustaining measures you would want to receive or not receive under a variety of circumstances and conditions. It also names an individual to make medical decisions on your behalf in the event you are unable to do so for yourself.

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What is a Special Needs Trust?

special needs trust is a document created to help ensure that disabled or incapacitated beneficiaries can receive the benefit of assets left to them without losing access to important needs-based government benefits.

Special Needs Trusts are most commonly used to maximize the benefits of proceeds from either an inheritance an insurance settlement or a personal injury settlement when the recipient of the funds is the beneficiary of needs based government benefits such as Medicaid or Supplemental Security Income (SSI).

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What is Estate Litigation?

Estate litigation involves actions brought by an individual or a creditor against an estate. Typically estate litigation comes about when beneficiaries have conflicts that they cannot settle on their own like who should be the executor of the estate and who will get what assets. If you find yourself in this situation it important that you hire an attorney that has experience specifically with estate litigation not just experience with the practice Elder Law & Estate Planning. Price and Price has been handling Estate Litigation issues for more than 40 years.

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What is a Power of Attorney?

In general, a power or attorney is a document that gives another person the ability to make financial decisions on your behalf when you are unable to do so for yourself.

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How should I choose an Estate Planning and Elder Law attorney?

When choosing an estate planning attorney you want to find out things like: How long have they been practicing? What percentage of their practice is dedicated to estate planning and elder law? Does the attorney have any special certifications or designations in the legal community?

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