Author Archives: admin

Pennsylvania’s Elective Share

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Disinheriting a spouse in Pennsylvania is not easy. The surviving spouse has the right to receive an “elective share” of certain property of the deceased spouse. This election must be made by the surviving spouse within six months of the decedent’s date of death. Failure to comply with the filing deadline will result in a waiver of the right of election. The property subject to the right of election includes the following: 1. Property passing from the decedent by will … Continued

Why you need a Will even with Intestate Laws?

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Many people are fearful of contemplating their own deaths. However, it is important to prepare an estate plan to control the disposition of your assets. If you do not to create an estate plan and die without a will, the disposition of your assets will be governed by the intestate laws of the state in which you live. Many people believe that state intestacy laws will transfer all of their property to pass to a surviving spouse. However, this is … Continued

Can I leave my wife out of my Will?

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A surviving spouse may inherit from his deceased spouse’s estate even if there is a Will that leaves nothing to the surviving spouse. New Jersey laws enables a surviving spouse to inherit from his deceased spouse’s estate under the theory of the ‘elective share’ or the ‘omitted spouse share.’   Elective Share Under New Jersey law, the surviving spouse is entitled to receive an elective share equal to one third of the deceased spouse’s augmented estate. The augmented estate is … Continued

Guardians and Custodians for Children

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Planning for the care of your children may be at the center of your mindset during the COVID-19 pandemic. Who will care for your minor children if you become unavailable? This article explains the concepts of a guardian and a custodian. Nominating Guardians For a parent with minor children, the most important issue in the estate plan is usually naming the person who will act as guardian for a person’s children. A will maybe utilized to nominate a guardian. In … Continued

Asset Protection Strategies for Business Professionals

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  ASSET PROTECTION STRATEGIES FOR BUSINESS PROFESSIONALS   Professionals providing services to others are at risk for liability claims. It is important to engage in asset protection strategies to protect wealth and minimize potential liability. Asset protection strategies include:   Gifting Assets Gifting strategies are powerful wealth transfer tools. Gifts may be effectuated via (a) an outright gift of an asset, (b) use of an irrevocable trust for the benefit of others, (c) establishing a family limited partnership, or by … Continued

Estate Planning Basics

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  Irrespective of the size of your estate, an estate plan can help to take care of both you and your family. Below are some of the common estate planning documents:   Health Care Power of Attorney and Living Will. A Health Care Power of Attorney and Living Will document allows you to appoint an agent to make health care decisions on your behalf if you are incapacitated as well as to articulate health care decisions if certain conditions surmount. … Continued

Can an unsigned document be admitted into probate?

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A written document does not need to be signed by a testator (person writing a will) to admit the document into probate in New Jersey. Probate is the formal legal process to establish the validity of a decedent’s will. Procedurally, a person desiring to admit a writing to probate must demonstrate by clear and convincing evidence that the decedent actually reviewed the document in question AND that the decedent assented to the substance of the document. In a recent New … Continued

Requirements for a valid will in New Jersey

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Under New Jersey law, a will must be:  (1) in writing, (2) signed by the testator or in the testator’s name by some other individual in the testator’s conscious presence and at the testator’s direction; AND (3) signed by at least two individuals, each of whom signed within a reasonable time after each witnessed either the signing of the will as stated in (2) or the testator’s acknowledgement of that signature or acknowledgement of the will.   A will may … Continued

Understanding reconsideration in New Jersey

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After a New Jersey court has issued a judgment, prior to filing an appeal a party may ask the court reconsider its ruling.  R. 4:49-2 governs the reconsideration process in the New Jersey Civil Courts.  The motion for reconsideration must be filed with the court no later than 20 days after the service of the final order upon all parties.  The service is effectuated by the party obtaining the order.  The motion must concisely state the basis for reconsideration including … Continued

Delaware Ruling Encourages Firms To Modify Removal Provisions

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The Delaware Chancery Court recently held that directors in companies without classified boards may be moved from office without cause irrespective of the provisions of a company’s corporate charter.  This ruling should encourage companies to review their bylaws and amend these bylaws as necessary. A significant amount of Delaware companies have non-classified boards with bylaw provisions that only allow removal of directors ‘for cause.’ The Delaware Chancery Court reasoned that these provisions were not valid under Delaware law. In in re … Continued