The Bonfrisco Law Firm

Continued from last week… When the debts of an estate are uncertain, an executor AKA Personal Representative may apply with the Surrogate for an Order Limiting Creditors. This order is simply a notice to creditors that they are to present to the fiduciary within 6 months of the date of the order the

Continued from last week… The probate process is initiated with the presenting of the original Will together with the original death certificate to the Surrogate by the executor. If the purported Will is adjudicated to be valid then the Application for Probate, an Authorization To Accept Service of

The Probate Process In New Jersey – Article 1 Before the probate procedure is initiated it is necessary to determine whether there is a need to probate the Will. A Will does not need to be entered into probate if there are no assets in the decedent’s name solely. If the decedent has assets [...]

When someone is in their 20s or 30s, retirement may still seem too far away to worry about. Unfortunately, waiting until retirement is around the corner makes it harder to enjoy those golden years. Recent studies indicate that most people that are 50 and older are not ready for retirement and likely

If you do not have an up-to-date Will, you should draw one up now. A Will can spare your family and loved ones from unnecessarily legal hassles when you are gone. There are several reasons you might want to revise your Will, including: A change of mind regarding distributing benefits A change in you

Wouldn’t it be great to have a regular paycheck during retirement? An annuity is an investment tool that can provide you with this kind of regular income. Here’s what you need to know: Annuities work much like an insurance policy – you pay in your specified premiums and the annuity will guarantee yo

Asset allocation means distributing your investments through various types of financial instruments so that your risk is well-diversified. This concept is not as technical as it sounds and with a little professional guidance, you can build a strong and diverse investment portfolio. The reason for di

Trust administration involves appraising and protecting the assets of a trust, ensuring that the trustor’s wishes are followed, and paying legally required taxes and fees. Trust administration can be fairly straightforward, but there are a number of variations that you should be prepared for if you’

An IRA, or individual retirement account, is one of the most popular ways to save for retirement. An IRA can be created at a bank, a brokerage firm, or a mutual fund company. IRAs differ from pensions and 401(k) plans in that individuals, not employers, typically open them. Tax Benefits You can dedu

A trust is essentially a legal entity that hold title to your assets to help streamline their distribution after you’re gone. There are two basic types of trusts: a Living Trust and a Testamentary Trust. A Living Trust is created during your lifetime and you can benefit from the assets held within t