Get a check-up for your estate plan from time to time
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The NEW New Jersey Uniform Trust Code arrives July 17th
New Jersey has adopted a new Uniform Trust Code which you’ll find at N.J.S.A. 3B:31-1 et seq. (Public law 2015, chapter 276). It was signed into law on January 19, 2016 and will take effect on July 17, 2016. The law has wide-reaching implications. It applies to existing trusts as well as trusts that come into existence after the effective date. If you are the trustee of a trust, or a...
Trust Reformation? What’s that?
Trusts are prepared with an eye toward longevity. A trust is designed to protect assets for benefit of a beneficiary, both now and for the future. The Trust will specify who will manage it now (the Trustee) and will typically contain a list of successor trustees who can step in later if necessary, and a mechanism for someone to appoint a successor Trustee if there ever is an unfilled vacancy....