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?
- Why do some people mistakenly think that they don't need an estate plan?
- What documents are typically included in an estate plan?
- What happens if I die without a will?
- How can proper estate planning help protect my assets from creditors?
- Who should I select to be my Executor or Trustee?
- How do I make a change to my will or other estate plan documents?
- What should I do if a parent dies without a will?
- What are the main benefits of estate planning?
- What type of trust is best for me?
- What is the role of Executor?
- What is a Last Will and Testament?
- What is a Living Will?
- What is a Special Needs Trust?
- What is Estate Litigation?
- What is a Power of Attorney?
- How should I choose an Estate Planning and Elder Law attorney?
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
A 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).
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.
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.
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?
Did you or a loved one receive an Alzheimer's diagnosis in New Jersey? If so, medical care planning and financial planning are critical steps. You need to maintain control over such details as the disease progresses.
A law firm with more almost 100 years of combined experience, Price and Price will help you prepare a care needs assessment examining the daily needs of the Alzheimer's patient. The next step involves planning for future medical care and decisions. We will help with the details such as creating a medical power of attorney, a living will and ensuring a Do Not Resuscitate (DNR) order is in place if one is wanted. We will help make sure family members or trusted friends are designated to make the important health care decisions on behalf of the Alzheimer's patient.
Those with Disabilities
Does your family member have a disability? Perhaps you have a special needs child and you need help with estate planning? Price and Price has extensive experience guiding New Jersey families with challenging planning needs.
People with disabilities may be receiving government benefits such as Supplemental Security Income (SSI) or Medicaid. An inheritance left in a standard will to someone receiving those benefits may jeopardize that public assistance. Our attorneys can examine smart options, including creation of a special needs trust. We help families facing a range of challenges with their estate planning - and we want to hear from you today so we can help you prepare for the future.
You may be part of a blended family if you remarried after a divorce. Blended families in New Jersey, which are more common today than ever, raise challenging financial and logistical issues when planning an estate. Even if you did not remarry after a divorce, you may be facing complicated estate planning questions in regard to your ex-spouse.
You may need guidance with any number of circumstances, from caring for your biological children, providing for step-children and dealing with financial issues related to an ex-spouse. We understand second marriages late in life can breed resentment among children about the distribution of assets when a parent who remarried passes away. As experienced estate planning attorneys in South Jersey, we bring compassion, understanding and legal acumen to blended family planning cases.
Estate planning for people with dementia can be extremely challenging. If you or a loved one was recently diagnosed with dementia, you must have your legal capacity assessed. You must meet certain standards to be able to legally sign off on documents.
You must understand the process of creating the will and its effects on your family and loved ones. You must know the nature and extent of assets of your estate. You must be able to justify your decision for distribution of assets and you must not be suffering from delusions. The New Jersey attorneys at Price and Price provide knowledgeable legal guidance to people from all walks of life, including those with conditions affecting the brain. If your loved one cannot meet the threshold of competence, we can work with you or a trusted family member or friend to help with planning. The sooner you plan the more likely you or your loved one will have the necessary capacity. And planning for someone with dementia is extremely important because they may be unable to manage their own affairs sooner than later.
Same Sex Couples
The U.S. Supreme Court ruled that same-sex couples can marry no matter where they live. The New Jersey estate planning attorneys at Price and Price are prepared to provide helpful guidance for gay and lesbian couples who need a well-drafted estate plan.
With gay marriage now recognized in New Jersey and all other states, all married couples, no matter their sexual orientation, are treated equally. This makes estate planning a smoother process. Prior to the historic ruling, the property of an individual in a same-sex relationship who died without a will may have gone to someone other than the deceased's partner. Today, a spouse will still be able to inherit property, even if there is no will. Also, married same-sex couples can enjoy other benefits they were denied before the ruling, including spousal exclusion, which allows spouses to leave one another property without paying estate taxes at the first death.
New Jersey estate planning attorneys at Price and Price offer reliable services for veterans who served our country. If you were honorably discharged and served during wartime, you may be entitled to benefits through any number of programs. As a well-established and large elder law firm in South Jersey, we have the resources and experience to help you obtain benefits.
Programs that can be part of a comprehensive estate planning strategy include the Aid and Attendance Pension Program, which can be tapped to pay for a range of medical expenses and long-term care (home care, professional care, prescriptions, copays and insurance programs) The program provides eligible veterans with a potential proceeds of up to $23,000 a year. We invite you to arrange a consultation with us. We can help you navigate the application process and explore whether you qualify for such benefits.
Your spouse may have died with or without a will. You may feel overwhelmed as you try to manage the finances and plan for the long term after such a loss. At South Jersey's largest elder law firm, Price and Price, we want to help ease your worries.
As a firm with almost 100 years of combined experience, we understand exactly what you're going through and will put our experience and expertise to work for you. Our knowledgeable and compassionate attorneys have a thorough understanding of how to create an estate plan to ensure proper distribution of your assets to your children, grandchildren and any other loved ones after you pass away. Our comprehensive services include helping clients create last wills and testaments, powers of attorney, living trusts and advance directives, or living wills, to help you express your medical and financial desires if you become incapacitated.