Sale to Grantor Trust – What You Need to Know
A trust is a legal arrangement in which a third party called a trustee holds assets on behalf of one or more beneficiaries. Trusts can be set up in a variety of ways and can specify how and when assets pass to named beneficiaries. In addition, there are many types of trusts,...
Glossary of Estate Planning Terms
The estate planning process doesn't need to feel overwhelming. While legal terminology can sometimes create confusion, understanding the basic vocabulary empowers you to make informed decisions about your future. This guide breaks down essential estate planning terms into easy-to-understand language.
Administrator – A court-appointed individual responsible for managing...
Protecting Vulnerable Loved Ones: Recognizing and Addressing Asset Mismanagement
Ensuring the financial security of those we care about most is a top priority when it comes to protecting them. Vulnerable loved ones, such as elderly family members or those living with disabilities, often face unique risks when it comes to managing their assets. Whether due to oversight or exploitation, financial missteps...
Supporting Aging Loved Ones: A POA’s Role
As loved ones age, their ability to handle daily tasks and make important decisions can change. Watching someone you care about face these challenges is never easy, and you may wonder how best to support them. Planning ahead can help ease those worries and protect their well-being. One way to provide that...
Divorce and Estate Plans – Is My Spouse Entitled To My Gifted/Inherited Assets In Our Divorce?
When navigating the complexities of divorce in New Jersey, handling gifted or inherited assets can become a contentious issue. Unlike marital property subject to equitable distribution, gifted or inherited assets are typically considered separate property. However, the distinction can blur if these assets are commingled with marital funds or used for joint...
Is Probate Still Required If There Is A Surviving Spouse?
When a loved one passes away, the idea of having to go through probate can be overwhelming, especially for the surviving spouse. Many wonder if probate is necessary when a surviving spouse inherits the estate. The necessity of probate largely depends on how the assets were held and New Jersey’s specific...
Can I Be Paid To Take Care Of My Mom Or Dad Full-time?
The Personal Preference Program (PPP) is a Medicaid program allowing beneficiaries direct care. Under PPP, Medicaid...
Navigating Guardianship For Special Needs Adults In New Jersey
Sometimes it is necessary to appoint a guardian for an adult with special needs if they cannot make important decisions independently. Guardianship for special needs adults in New Jersey is a legal arrangement where a court appoints a guardian to make decisions on behalf of an individual who is deemed unable...
Debunking Myths: Common Misconceptions about Asset Protection in New Jersey
One crucial element in any New Jersey divorce is securing your fair share of the marital assets. Unfortunately, common myths about asset protection in New Jersey divorces can lead people to make unreasonable assumptions, only to be disappointed when reality sets in.
At Bozanian McGregor, LLC, our New...
How Can You Ensure the Well-Being of Your Children in Your Estate Plan?
If you are considering your estate plan and want to make sure that your minor children are taken care of if something should happen to you, you should take great care in appointing a guardian for them. Here are some general steps you might wish to consider in selecting a guardian: