New NJ Estate Tax Law, Wills, & Estate Seminar

  Edison Library

New NJ Estate Tax Law, Wills & Estate Planning

2017 dates:

February 13 at 7PM

Clara Barton Library, 141 Hoover Ave., Edison, NJ 08837

(732)738-0096

February 28 Edison Library Main Branch

340 Plainfield Ave., Edison, NJ 08817

Free community program

WILLS & ESTATE ADMINISTRATION- PROTECT YOUR FAMILY AND MAKE PLANNING EASY

SPEAKER: Kenneth Vercammen, Esq. Edison, NJ

               Author- Answers to Questions About Probate

The January 1, 2017 New Estate Tax law made a number of substantial changes in the administration of estates and trusts in New Jersey.

Main Topics:

1. 2017 changes to NJ Estate Tax & changes to taxes on pensions

2. 2017 changes in Federal Estate and Gift Tax 

3.  The New Probate Law and preparation of Wills

4. Power of Attorney

5.  Living Will             

6.  Administering the Estate/ Probate/Surrogate 

    You do not need to be an Edison resident to attend.

     COMPLIMENTARY MATERIAL:    Brochures on Wills, Probate and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

For info call 732-287-2298  x 228

To register go to http://www.edisonpubliclibrary.net/index-ek.shtml

    

NJSA 3B:7-1.1 Effect of Intentional Killing on Intestate Succession, Wills, Trusts, Joint Assets, Life Insurance and Beneficiary Designations

3B:7-1.1 Effect of intentional killing on intestate succession, wills, trusts, joint assets, life insurance and beneficiary designations. 58.Effect of intentional killing on intestate succession, wills, trusts, joint assets, life insurance and beneficiary designations. a.An individual who is responsible for the intentional killing of the decedent forfeits all benefits under this title with respect to the decedents estate, including an intestate share, an elective share, an omitted spouses, domestic partners or childs share, exempt property and a family allowance. If the decedent died intestate, the decedents intestate estate passes as if the killer disclaimed his share. b.The intentional killing of the decedent: (1)revokes any revocable (a) disposition or appointment of property made by decedent to the killer in a governing instrument and any disposition or appointment created by law or in a governing instrument to a relative of the killer, (b) provision in a governing instrument conferring a general or special power of appointment on the killer or a relative of the killer, and (c) nomination in a governing instrument of the killer or a relative of the killer, nominating or appointing the killer or a relative of the killer to serve in any fiduciary or representative capacity; and (2)severs the interests of the decedent and the killer in property held by them at the time of the killing as joint tenants with the right of survivorship or as tenants by the entireties, transforming the interests of the decedent and killer into tenancies in common. c.For purposes of this chapter: (1) "governing instrument" means a governing instrument executed by the decedent; and (2) "relative of the killer" means an individual who is related to the killer by blood, adoption or affinity and who is not related to the decedent by blood or adoption or affinity. L.2004,c.132,s.58; amended 2005, c.160, s.8; 2005, c.331, s.6.

Wills, Children & Guardianship

Wills, Children & Guardianship

There may come a time when a parent is unable, due to physical or mental incapacity, to take care of their minor children. In these circumstances, those caring for the children as well as the courts will need direction.
By writing and executing a Will which includes instructions on guardianship one may select someone, either individually or jointly, with the legal authority to act for minor children and assume control over the assets of the children. Estate planning, which includes the execution of a Will, is just as important for young families with minor children as they are for senior citizens.
As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all our resources and the assets we earn during our lifetime, the vast majority of Americans do not take the time to create the legal instructions to guide the court or a guardian. National statistics indicate that more than 50% of Americans die without leaving 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 and decide who gets custody of your children and handle their money.
This process is called the law of intestacy. The result can be lengthy delays in the distribution of your estate, court battles between relatives and your children being raised by someone you do not favor. Without a Will, your family will have to pay substantial costs for accountants, attorneys, bonding companies and probate fees.
IF YOU HAVE NO WILL (LEGALLY REFERRED TO AS "INTESTATE SECESSION"):
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 by your heirs and extra work will be required by the heirs of their attorney to qualify an administrator * The Judge determines who gets custody of your children * Possible additional State inheritance taxes and Federal estate taxes * If you have no spouse or 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 shouldnt be overwhelmed with Financial concerns. Careful estate planning helps take care of that.
Guardians
Most individuals appoint their spouse to act as Guardian of the person and property of their minor children. It is suggested that your Will include a clause which provides that in the event your spouse predeceases you, or is unsuitable or ceases to act as Guardian of the person and property of your minor children, you appoint a trusted family member or close friend to act as successor Guardian of the person and property of your minor children.
Trustee
Select a trusted person, a close relative or friends, who will invest and hold your childrens money. In your Will you can instruct the Trustee to apply amounts of income and principal as they, in their sole discretion, deem proper for the health, maintenance, education, welfare, or support of your children or other minors. Direct that the trustee shall accumulate any income not needed for the above purposes, paying and transferring the portion held in trust to the beneficiary upon his or her attaining the age of majority or whichever age you select.
Children born after you sign the Will
Many people direct that the provisions of their Will also applies to afterborn children. Accordingly, if you have any additional children subsequent to the execution of this Will, then wherever you have designated only your named children, you intend that all of your children shall share equally in the relevant provisions of your Will.
In addition to having a formal Last Will and Testament individuals are encouraged to have a Power of Attorney and also Living Will. Moreover, we also recommend they plan ahead and write messages to their family and anticipated executor detailing their specific desires regarding funeral and burial. Written instructions to your family and executor containing information and guidance will minimize uncertainty, confusion, and possible oversights following your death.
Conclusion
While the preceding article contains possible items to be discussed with your family, attorney and executor, the article is by no means exhaustive. A number of these items may not be applicable in your situation, and probably there are many others that are applicable. The essential element is to spend some time now considering what you should tell those most closely associated with you to facilitate their handling of your affairs upon your death.

Wills & Power of Attorney Seminar Piscataway Seniors May 7 (piscataway nj)

Wills, Estate Planning & Probate Seminar

 Sponsored by Jewish Family Services

May 12, 2015 at 11am    

Held at Highland Park Conservative Temple - 
Congregation Anshe Emeth

201 South Third Avenue, Highland Park, NJ 08904

WILLS & ESTATE ADMINISTRATION- PROTECT YOUR FAMILY AND MAKE PLANNING EASY

SPEAKER: Kenneth Vercammen, Esq. Edison, NJ

                (Author- Answers to Questions About Probate)

      The NJ Probate Law made a number of substantial changes in Probate and the administration of estates and trusts in New Jersey.

Main Topics:

1. The New Probate Law and preparation of Wills    

2. 2015 changes in Federal Estate and Gift Tax 

3. NJ Inheritance taxes on estates over $675,000

4. Power of Attorney               

5.  Living Will                                  

6.  Administering the Estate/ Probate/Surrogate    

7. Questions and Answer 

             Open to the public.      Call 732-306-0218 for info

      COMPLIMENTARY MATERIAL: Brochures on Wills, "Answers to Questions about Probate" and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

https://www.facebook.com/events/962166290467767/

Can’t attend?  We can email you materials

Send email to VercammenLaw@Njlaws.com

3B:7-1.1 Effect of intentional killing on intestate succession, wills, trusts, joint assets, life insurance and beneficiary designations.

3B:7-1.1 Effect of intentional killing on intestate succession, wills, trusts, joint assets, life insurance and beneficiary designations.

58.Effect of intentional killing on intestate succession, wills, trusts, joint assets, life insurance and beneficiary designations.

a.An individual who is responsible for the intentional killing of the decedent forfeits all benefits under this title with respect to the decedent's estate, including an intestate share, an elective share, an omitted spouse's, domestic partner's or child's share, exempt property and a family allowance. If the decedent died intestate, the decedent's intestate estate passes as if the killer disclaimed his share.

b.The intentional killing of the decedent:

(1)revokes any revocable (a) disposition or appointment of property made by decedent to the killer in a governing instrument and any disposition or appointment created by law or in a governing instrument to a relative of the killer, (b) provision in a governing instrument conferring a general or special power of appointment on the killer or a relative of the killer, and (c) nomination in a governing instrument of the killer or a relative of the killer, nominating or appointing the killer or a relative of the killer to serve in any fiduciary or representative capacity; and

(2)severs the interests of the decedent and the killer in property held by them at the time of the killing as joint tenants with the right of survivorship or as tenants by the entireties, transforming the interests of the decedent and killer into tenancies in common.

c.For purposes of this chapter: (1) "governing instrument" means a governing instrument executed by the decedent; and (2) "relative of the killer" means an individual who is related to the killer by blood, adoption or affinity and who is not related to the decedent by blood or adoption or affinity.

L.2004,c.132,s.58; amended 2005, c.160, s.8; 2005, c.331, s.6.

East Brunswick WILLS, PROBATE AND ELDER LAW- Adult and Community Education Monday March 8, 2010 7 - 8:30 P.M.

WILLS, PROBATE AND ELDER LAW- Adult and Community Education
WHEN: Monday March 8, 2010 7 - 8:30 P.M.

East Brunswick Adult & Community Education Program
East Brunswick High School, 380 Cranbury Rd
Fee: $29
For additional information, call the East Brunswick Adult Education Office for registration information 732- 613-6989

Instructor: Kenneth Vercammen, Esq. of Edison
(Co-Author- NJ Elder Law & Probate)
COMPLIMENTARY MATERIAL: Brochures on Wills, “Probate and Administration of an Estate”, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

You don’t have to be wealthy or near death to do some thinking about a will. Here is your opportunity to listen to an experienced attorney who will discuss how to distribute your property as you wish and avoid many rigid provisions of the state law. Topics covered by author of “Answer to questions about Probate” will include: Wills, revocable trusts, irrevocable trusts, power of attorney, living will, long term care insurance, reverse mortgage, plus the opportunity to ask questions.
Here is your opportunity to listen to an experienced attorney who will answer questions how to distribute your property and avoid many rigid provisions of state law. For more information on Elder law, visit the Website www.CentralJerseyElderLaw.com. You can also subscribe to the free email Elder Law newsletter by visiting the website, or sending an email to Kenv@njlaws.com.
For additional information, call the East Brunswick Adult Education Office for registration information 732- 613-6989
KENNETH VERCAMMEN & ASSOCIATES, PC
ATTORNEY AT LAW
2053 Woodbridge Ave.
Edison, NJ 08817
(Phone) 732-572-0500
(Fax) 732-572-0030
website: www.njlaws.com