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August 2019 Archives

New Jersey estate litigation: Fighting over consumer debt

Most people in New Jersey will die with some amount of consumer debt. In fact, according to the New York Federal Reserve, it is believed that 75% of Americans will die in debt. Figuring out who is responsible for that debt may lead to estate litigation. 

Sibling disputes can lead to estate litigation

Brothers and sisters do not always get along, and they do not always agree on the right way to handle various situations -- such as when a parent dies. Recently, a story was shared about how one sibling, out of three, took charge when their mother died. The decisions this one sibling is making are not sitting well with at least one of the other siblings. This kind of thing, whether it happens in New Jersey or elsewhere, may require estate litigation to resolve.

Estate planning myths you should ignore

Estate planning can come with numerous hiccups. One New Jersey family learned this the hard way when two sisters' mother tasked a family friend with being the executor of her estate. The executor moved slowly in selling the house, so the sisters had to wait a long time before seeing any actual money from the mom's estate. 

How the SECURE Act will affect estate planning, if it passes

Many New Jersey residents have retirement accounts of some sort, through work or personal choice. On these accounts, they likely have beneficiaries designated so that, when they eventually pass on, someone they know and/or love will benefit from their willingness to save. Recipients have a few options when inheriting such funds. Thanks to the Setting Every Community Up for Retirement Act, those options are likely about to change, which means estate planning for such accounts will likely need to change. 

Estate planning considerations after a breast cancer diagnosis

Every year, numerous women in New Jersey, and even a few men, are diagnosed with breast cancer. When such a diagnosis is received, staying positive and looking ahead to the future is a must -- though, understandably, difficult. The last thing anyone wants to do when faced with a severe illness is think about putting one's affairs in order. Estate planning may not be at the top of one's priority list, but it is not something one should put off entirely. It is possible to remain positive about one's prognosis and make sure personal protections are put in place in the event they are needed.

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Thomas N. Torzewski, LLC

Torzewski & McInerney, LLC
60 Washington St
Suite 104
Morristown, NJ 07960

Phone: 973-532-2868
Fax: 973-359-0077
Morristown Office Location