Having a properly drafted and funded trust may help you avoid a stressful and complex probate process in New Jersey. But even when the courts are not involved in overseeing the administration of a trust, the trustee nevertheless has many of the same responsibilities as a representative in probate proceedings.
The trustee has a duty to appropriately administer the trust, which includes notifying trust beneficiaries, collecting and investing trust assets, paying
debts, and addressing tax issues. Fulfilling these requirements often takes significant time, effort, and knowledge of the law.
At Willis Law Group LLC, we understand that many trustees have little experience serving as a fiduciaries. Our goal is to make this process as simple as possible. Our New Jersey attorneys assist clients in interpreting the terms of trust and in carrying out all aspects of their legal responsibilities as trustees.
Conservators and guardians are appointed in court to make decisions about health care or finances for adults who are incapacitated. A durable power of attorney lets you choose a trusted decision-maker for the future.
In the ever-evolving landscape of health care, one critical challenge has been ensuring that Medicare recipients receive the coverage they need without undue financial burdens.
A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility.
