Contact
(844) 562-3572
[email protected]
TextBack Number
+1 877-721-2590
Deliveries:
354 Eisenhower Parkway
Suite 1250
Livingston, NJ 07039
- Additional Office Locations
(844) 562-3572
[email protected]
TextBack Number
+1 877-721-2590
Deliveries:
354 Eisenhower Parkway
Suite 1250
Livingston, NJ 07039
Estate planning is crucial for your family’s future, yet it’s often put off. As a Livingston Estate Planning Lawyer, we understand that no one can predict when illness, incapacity, or death will occur. Without proper planning, your loved ones could face financial difficulties, legal confusion, and family conflict during an already challenging time.
At Lobej Law, we help individuals and families in Livingston and throughout Essex County create comprehensive estate plans that reflect their values, protect their assets, and provide clear guidance for the future. Our approach is personalized and thorough; we take the time to understand your unique family situation, financial circumstances, and goals to design a plan tailored to your needs, rather than offering generic solutions.
Estate planning is not just for the wealthy. Regardless of the size of your estate, a well-crafted plan ensures your wishes are honored, your loved ones are protected, and your assets are transferred smoothly and efficiently. It also ensures that, if you become incapacitated, the right people have the legal authority to make decisions on your behalf.
A comprehensive estate plan includes several key legal documents, each serving a specific purpose. The most essential is the last will, which outlines how your assets should be distributed, names an executor, and, for parents of minor children, designates a guardian if both parents pass away. Without a valid will, your estate will be distributed according to New Jersey’s intestacy laws, which may not reflect your wishes.
Revocable living trusts are another crucial element of many estate plans. A properly funded trust allows your assets to pass to beneficiaries without probate, saving time and money, and keeping the process private. Trusts also provide flexibility, enabling managed distributions to young beneficiaries, protection for those with special needs, and a smooth transfer of business interests.
Powers of attorney are vital for managing your financial and legal affairs if you become incapacitated. Without a durable power of attorney, your family may need to establish guardianship in court, which can be costly. A healthcare proxy appoints someone to make medical decisions on your behalf if you’re unable, and when paired with a living will, it ensures your healthcare wishes are clear and your family has guidance in difficult situations.
For clients with larger estates or complex family situations, Lobej Law offers advanced estate planning strategies. Irrevocable trusts, such as life insurance trusts, charitable remainder trusts, and special needs trusts, are effective tools for reducing estate taxes, protecting assets from creditors, providing for loved ones with disabilities, and supporting charitable causes.
Business succession planning is also vital for business owners. Questions like how your business will continue if you’re unable to manage it, who will own it after your death, and how it will be valued and transferred must be addressed in advance. Lobej Law works with business owners to create succession plans that protect both the business and family relationships.
New Jersey has its own estate tax, which differs from the federal estate tax. Understanding how this will affect your estate and planning accordingly is essential for residents with estates exceeding the exemption amounts.
When a loved one passes away, managing their estate can be confusing and emotionally challenging. Lobej assists executors and administrators with all aspects of probate and estate administration, including filing the will with Surrogate’s Court, valuing estate assets, notifying creditors, resolving claims, filing estate tax returns, and distributing assets to beneficiaries.
We also represent beneficiaries and family members who have concerns about estate administration, including issues like executor misconduct, will validity disputes, or disagreements over asset distribution. Our goal is to help families resolve estate-related conflicts with minimal conflict and expense, ensuring that the decedent’s wishes are honored and legal rights are protected. We provide expertise in business law, real estate, wills, trusts & estate, criminal law defense, commercial collections, aviation law, civil rights, and Bankruptcy Debtor Protection to address all facets of your estate planning and administration needs.
If you die without a valid will in New Jersey, your estate will be distributed based on the state’s intestacy laws, which follow a set order of inheritance. Assets typically go to your closest relatives, like a spouse or children. However, this process may not reflect your specific wishes and excludes unmarried partners, friends, or organizations. A will ensures your assets are distributed as you intend.
A will takes effect upon death and goes through probate, while a living trust takes effect during your lifetime, allowing assets to pass directly to beneficiaries without probate. Trust assets are distributed more quickly, privately, and often with less cost. However, a trust only covers assets transferred into it, so a “pour-over will” is often needed to cover any untransferred assets. Whether you need both depends on your estate’s size and goals.
Estate plans should be reviewed after major life events such as marriage, divorce, birth, or the death of a beneficiary. You should also review your plan every 3 to 5 years to ensure it still aligns with your wishes and accounts for changes in the law. Outdated documents, like powers of attorney, may also need to be updated periodically.
A power of attorney allows someone to act on your behalf in financial and legal matters. A durable power of attorney remains valid if you’re incapacitated, preventing the need for a court-appointed guardian. This document ensures that your designated agent can manage your finances without delay or court involvement.
New Jersey abolished its estate tax in 2018 but still imposes an inheritance tax. Unlike an estate tax, the inheritance tax applies to beneficiaries based on their relationship to the deceased. Direct heirs like spouses and children are exempt, but more distant relatives and unrelated beneficiaries may face taxes ranging from 11% to 16%. This highlights the importance of planning your estate with tax considerations in mind.
The below conversational form is designed to help us better understand your needs and determine how we can assist you most effectively. Please answer the questions to the best of your ability.
Phone
(844) 562-3572
Email
[email protected]
Fax
(908) 379-8754
Primary Address
354 Eisenhower Parkway Suite 1250 Livingston, NJ 07039
New York Office
90 Broad St. 25th Floor, New York, NY 10004
Satellite Office
766 Shrewsbury Ave., Suite E-202 Tinton Falls, NJ 07724