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Ask an Estate Planning Attorney in Bergen County, NJ: Estate Administration and Probate Mid-Year Update

When you come into our office for your consultation, you will tell one of our estate planning lawyers about your current situation and your desires for the future. Your attorney will then develop an estate plan that incorporates your wishes. Our plans are customizable and can include as many special provisions as you may require. We will also provide advice and counseling on complex tax avoidance strategies that will minimize your death taxes.

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Ask an Estate Planning Attorney in Bergen County, NJ: Estate Administration and Probate Mid-Year Update

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  1. Ask an Estate Planning Attorney in Bergen County, NJ: Estate Administration and Probate Mid-YearUpdate • Estate administration can be complicated and scary. Estate administration involves the probate of a deceased person’s estate, a fancy word for assets, and typically includes three broadactions: • Asset collection, inventory andappraisal; • Collecting and paying debts and taxes;and • Distributing the remaining assets tobeneficiaries. • This process may occur with or without a will and may occur subject to a probate court order or outside a probate court, if a gift was made during the deceased person’s lifetime, forexample. • The process itself is formal with many requirements to submit forms, documentation, and provide an account of the assets and liabilities as they are discovered and inventoried. An item that was gifted in the will, may no longer be available at the time of distribution. A probate attorney in Hackensack, New Jersey will help your family and executor navigate the waters so that a resolution is determined to resolve any inconsistenciesquickly. • It is difficult to predict every potential probate problem. Despite the deceased person’s best intentions, an interested party can contest the proceedings and request additional accountings, which may frustrate the executor or personal representative, delaying the settlement of theestate. • When you come into our office for your consultation, you will tell one of our estate planning lawyers about your current situation and your desires for the future. Your attorney will then develop an estate plan that incorporates your wishes. Our plans are customizable and can include as many special provisions as you may require. We will also provide advice and counseling on complex tax avoidance strategies that will minimize your deathtaxes. • Our Estate Practice Areas include helping families with the following types ofmatters: • EstatePlanning • AssetProtection • EstateLitigation • Estate Planning for BlendedFamilies • EstateTax

  2. Financial Power ofAttorney • Guardianship/Conservatorship • Health Care Power ofAttorney • Irrevocable Life InsuranceTrust • Joint AssetPlanning • JointTrusts • LivingTrust • Planning to Minimize CapitalGain • Probate • Probate Terms • Special NeedsPlanning • Special NeedsTrusts • TrustAdministration • Trusts andWills • Generation-Skipping Transfer Tax (GSTTax) • Contact UsToday • There is still time to get your affairs in order and start estate planning and long-term healthcare planning. A periodic review of your estate plan is recommended annually. This year it is important because of the changes to the gift and estate tax exemption, the generation-skipping transfer tax, Roth conversion, and 529 savings planmodifications. • Ask an estate planning attorney in Bergen County today about an estate plan, including trusts, to minimize the tax consequences of gifts and transfers. Helping families with their elder law, family law and estate planning needs in Hackensack, NewJersey, our estate planning attorneys are here for all of your family law needs. To request a consultation with an estate planning attorney in Bergen County, NJ, click here or call (201) 690-1642today.

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