Trusts & Powers of Attorney
Protect Your Assets Through Trusts in New Jersey
Trusts are one of the most common estate planning devices we use at BMC to preserve your assets for you and your family members. Through various forms of trusts, you can use your assets to pay for medical, educational, and health related expenses for the trust’s designated beneficiaries.
We can create a trust as part of your will or as a separate legal entity. Trusts allow you to avoid the probate process or minimize estate, inheritance or income taxes (depending on the type of trust). By transferring ownership of your assets to a trust, you remove those assets from your estate, which often decreases Federal and State taxes. During your lifetime, you may transfer assets to a charitable trust to enjoy the use of the assets during your lifetime while maximizing the estate tax charitable deduction.
We are experienced at creating trusts to preserve our clients’ estate for now and in the future. To talk to us about how you can use a trust to preserve your assets, please fill out the contact form on the right, call us at 908-236-6457 or email Alec Borenstein, Esq., directly at firstname.lastname@example.org.
How a New Jersey Power of Attorney Can Help
We inherently know how a will can help preserve our estate and assets for those we leave behind. What we don’t often plan for is what will happen in case we succumb to a disability during our lifetimes. A Power of Attorney is an estate planning device that ensures we can handle our business, financial personal affairs if we become incapacitated or suffer from a lifetime disability
A Power of Attorney will enable you to designate a trusted friend or family member to manage your personal and/or financial matters in the event of a disability. Without a Power of Attorney you and your family members will have to spend considerable time and expense asking a New Jersey Court to appoint someone a guardian. With a Power of Attorney, your trusted family member or friend will be able to act as you would act in the event of your incapacity.
We prepare Powers of Attorney as part of our basic estate planning package. If you have any questions about Powers of Attorney, please fill in the contact form to the right or call us at 908-236-6457 or email Alec Borenstein, Esq., directly at email@example.com.