Estate Planning NJ

Estate Planning	FOR POTENTIAL CLIENTS TO CONTACT US DURING NON-BUSINESS HOURS, PLEASE FILL OUT THE FORM. Name: Cell Phone: E-Mail Addres If You Do Not Include a Coplete E-Mail Address, Network will not Forward Your Contact Form to the Law Office. Details of the Case Agree By typing " agree" into the box you are confirming that you wish to send your information to the Law Office of Kenneth Vercammen Write the characters in the image above
Wills & Estate Administration SAVE MONEY AND PROVIDE FOR YOUR LOVED ONES As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all the resources and assets we earn, the vast majority of us do not take the time to create a will. National statistics indicate that 80% of Americans die without leaving a will. There are several reasons for this: fear of death; procrastination; and misinformation (people presume that only the rich need to have wills). Whatever the excuse, it is clear that people would benefit from having a will. In the absence of a will or other legal arrangement to distribute property at death, the state must step in to administer the estate. The result can be lengthy delays before the rightful heirs receive their property. And because the state has no instructions from the deceased, no charitable gifts will be made. For more information go to http://njwillsprobatelaw.com/wills_and_ estate_administration.html?id=2677&a= IF YOU HAVE NO WILL: If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probate: * State law determines who gets assets, not you * Additional expenses will be incurred and extra work will be required to qualify an administrator * Judge determines who gets custody of your children * Possible additional State inheritance taxes and Federal estate taxes * If you have no spouse or close relatives the State may take your property * The procedure to distribute assets becomes more complicated-and the law makes no exceptions for persons in unusual need or for your own wishes. * It may also cause fights and lawsuits within your family When loved ones are grieving and dealing with death, they shouldn’t be overwhelmed with Financial concerns. Careful estate planning helps take care of that. THE FOLLOWING IS A SAMPLE OF A VARIETY OF CLAUSES AND ITEMS WHICH SHOULD BE INCLUDED IN A WILL: 1ST: DEBTS AND TAXES 2ND: SPECIFIC BEQUESTS 3RD: DISPOSITION TO SPOUSE 4TH: DISPOSITION OF REMAINDER OF ESTATE 5TH: CREATION OF TRUSTS FOR SPOUSE 6TH: CREATION OF TRUST FOR CHILDREN 7TH: OTHER BENEFICIARIES UNDER 21 8TH: EXECUTORS 9TH: TRUSTEES 10TH: GUARDIANS 11TH: SURETY OR BOND 12TH: POWERS 13TH: AFTERBORN CHILDREN 14TH: PRINCIPAL AND INCOME 15TH: NO ASSIGNMENT OF BEQUESTS 16TH: GENDER 17TH: CONSTRUCTION OF WILL 18TH: NO CONTEST CLAUSE A will must not only be prepared within the legal requirements of the New Jersey Statutes but should also be prepared so it leaves no questions regarding your intentions. WHY PERIODIC REVIEW IS ESSENTIAL Even if you have an existing Will, there are many events that occur which may necessitate changes in your Will. Some of these are: * Marriage, death, birth, divorce or separation affecting either you or anyone named in your Will *Significant changes in the value of your total assets or in any particular assets which you own * A change in your domicile * Death or incapacity of a beneficiary, or death, incapacity or change in residence of a named executor, trustee or guardian of infants, or of one of the witnesses to the execution of the Will *Annual changes in tax law MAY I CHANGE MY WILL? Yes. A Will may be modified, added to, or entirely changed at any time before your death provided you are mentally and physically competent and desire to change your Will. You should consider revising your Will whenever there are changes in the size of your estate. For example, when your children are young, you may think it best to have a trust for them so they do not come into absolute ownership of property until they are mature. Beware, if you draw lines through items, erase or write over, or add notations to the original Will, it can be destroyed as a legal document. Either a new Will should be legally prepared or a codicil signed to legally change portions of the Will. SAVE MONEY Your estate will be subject to probate whether or not you have a Will and in most cases, a Will reduces the cost by eliminating the requirements of a bond. With a well-drawn Will, you may also reduce death taxes and other expenses. Dont pinch pennies now to the detriment of your beneficiaries. We have attempted to briefly explain in this article some of the issues, techniques, and decisions involved in Wills, Estate Planning, and Administration of an Estate. Because the matters covered are complicated and the Federal and New Jersey laws frequently change, this article can only outline some of the many legal issues you should consider. The proper preparation of a Will should involve a careful analysis of the clients assets, family and his/her desires. Estate Planning is the process of examining what will happen to your property when you die and arranging for its distribution in such a manner as will accomplish your objectives. The cost of a Will depends on the size and the complexity of the estate and the plans of the person who makes the Will. A properly drawn Simple Will without Trust costs approximately $100.00 to $500.00. It is one of the most important documents you will ever sign, and may be one of the best bargains you will ever have. Be sure your Will takes into account the 1997 Federal Tax changes and all New Jersey Inheritance Tax changes. Also, ascertain if your Will is “self-proving”, which would dispense with having to find the Willís witnesses after death. WHAT IS A WILL? “A Will is a Legal written document which, after your death, directs how your individually owned property will be distributed, who will be in charge of your property until it is distributed and who will take care of your minor children if the other parent should die . You should remember that the term “property” under the law includes real estate as well as other possessions and rights to receive money or items of value.” Everyone who has at least $3,000 in assets should have a Will. You do not have to be wealthy, married, or near death to do some serious thinking about your Will. ADMINISTRATION OF AN ESTATE If you are named the executor or executrix, you must visit the County Surrogate to probate the Will. You will need the following items: 1. The Death Certificate 2. The Original Will 3. Names and Addresses of decedents, next of kin and will beneficiaries 4. Minimum of $80.00 for Surrogate fees A state inheritance tax return must be filed and the tax paid on the transfer of real or personal property within eight months after death. OTHER ITEMS OF CONCERN TO BE PREPARED BY YOUR ATTORNEY -Trusts (and Medicare Trusts) -Power of Attorney- to allow a trusted person to administer your assets during your lifetime, either upon disability or now -Living Wills- to state your wishes concerning medical care in the event of your serious illness

Estate Planning NJ

Estate Planning

GUARDIANSHIP INTERVIEW FORM

         Please fill out completely and fax or mail back. This form is extremely important. Your accuracy and completeness in responding will help us best represent you.  Please read our website article to help you understand how guardianships are handled

http://www.njlaws.com/guardianship_of_disabled_adults.html?id=460&a=

       ALL THE PAGES AND SECTIONS OF THIS FORM MUST BE COMPLETED PRIOR TO SEEING THE ATTORNEY.  WRITE YOUR SPECIFIC QUESTIONS AT THE END OF THE LAST PAGE.  PLEASE HELP YOURSELF TO THE FREE INFORMATION BROCHURES IN THE RECEPTION AREA.
For more information go to
http://njwillsprobatelaw.com/estate_planning_
guardianship_interview_form.html?id=392&a=

PLEASE PRINT CLEARLY

Your Full Name:  [Person Filling out Form]

______________________________________________________

First                                         Last

Street Address: ________________________________________           

City ____________________ State ____  Zip Code _____________

              

Telephone Numbers:  Cell:  __________________________________

                                                                                      

Day: ____________________    Night: ________________________

E-mail address: __________________________________________

Referred By: ___________________________________________

     If referred by a person, is this a client or attorney?  If you heard about this law office by the internet, which search engine?  What search terms did you use?

Today's Date ___________________________________________

1. Name of person for whom you seek Guardianship: ________________

 Guardianship Questionnaire   rev 11/30/13

2.   Current address and phone for incapacitated person whom Guardianship is sought:

____________________________________________________________

____________________________________________________________

3.      Your relationship to person: _________________________________

4. Incapacitated person is of the age of ________________., DOB _______

5. The other kin of  Incapacitated person  are:

___________________, relationship _______________, residing at:  ___________________,

___________________, relationship _______________, residing at:  _________________,

___________________, relationship ______________, residing at: ____________________

6. Name, address and fax number of Doctor 1 who will sign Affidavit that person is incapacitated:

____________________________________________________________

____________________________________________________________

7. Name, address and fax number of Doctor 2 who will sign Affidavit that person is incapacitated:

____________________________________________________________

____________________________________________________________

8.  Is there a Will?  _____          Did you bring a photocopy?  ____

         B.  Is there a Power of Attorney?  _____  Did you bring a copy?  ____

         C.  Do You Have a Copy of the Deed?    ________

ASSETS

         The court rules require details of assets be set forth in a Guardianship case.

SCHEDULE “A” REAL PROPERTY  If none, write none

1. Street and Number _____________________________________

Town: ____________________

Lot: ___ Block:  ____ County: ____________________

Title/Owner of Record: _______________

Tax Assessor Assessed Value: $____________________

Full Market Value of Property:  $____________________ 

Mortgage Balance: $______________________

Any other Real Estate: $______________________

SCHEDULE “B (1)”   BANK ACCOUNTS, STOCK, CD, OTHER ASSETS

         All Other Personal Property Owned Individually or Jointly; Market Value, Indicate the Manner of Registration at Date of Death.

         If none, write none for each line

Bank Accounts/ Brokerage Accounts - Name of Bank, Acct. # ___________________________________________                                                                                          $_________

__________________________________________    $_________

___________________________________________   $_________

__________________________________________    $_________

Stock - Name of Stock Co., Acct. # ________________  $_________

___________________________________________   $_________

Investment Bonds., Acct. #                                               $_________

___________________________________________   $_________

Cars _______________________________________   $_________

Other assets over $10,000 ______________________  $_________

___________________________________________  $_________

___________________________________________  $_________

___________________________________________  $_________

         Liabilities More Than $2,000:   If none, write none

____________________________________________________________

____________________________________________________________

Estimated Gross Estate:  $__________________________________

Set forth several specific acts of incompetency by the alleged incapacitated person: 

____________________________________________________________

____________________________________________________________

____________________________________________________________

____________________________________________________________

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      PLEASE USE THIS PAGE TO WRITE YOUR SPECIFIC QUESTIONS FOR THE ATTORNEY: 

____________________________________________________________

____________________________________________________________

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