Common Estate Planning Components
Wills & Trusts
A will establishes how assets are distributed and designates guardians for minor children. For many families, a trust provides added flexibility, allowing assets to be managed for your benefit during your lifetime and for your heirs afterward. Trusts are often used to bypass the public probate process and protect your legacy from creditors.
Powers of Attorney & Healthcare Directives
A durable power of attorney allows a trusted person to manage your finances if you become unable to do so, effectively avoiding a costly and public court-ordered guardianship. Healthcare directives (living wills) ensure your medical preferences are followed, giving your family a clear roadmap during critical moments.
Asset Protection Strategies
Shielding your home and savings from lawsuits, creditors, or unexpected expenses is essential. We help clients evaluate strategies like irrevocable trusts and proper property titling to safeguard assets while preserving eligibility for public benefits.
Retirement & Long-Term Care Planning
In New Jersey, retirement and estate planning are deeply linked. With the cost of nursing home care in Central Jersey often exceeding $15,000 per month, we help you integrate Medicaid (MLTSS) considerations into your estate plan early to ensure your savings aren't depleted by a health crisis.
Will My Beneficiaries’ Inheritances Be Taxed in New Jersey?
Many beneficiaries have concerns about how taxes could affect their inheritance. In New Jersey, the state estate tax was repealed years ago, but a state inheritance tax still applies to certain recipients. Immediate family members, such as spouses and children, are generally exempt, while more distant relatives or friends may have tax obligations. On the federal level, exemption limits are expected to change in 2026, making it important to review your estate plan. At Alguram Law Group, we can explain how trusts and gifting strategies may interact with inheritance rules so you can understand potential outcomes and plan accordingly.
How Can I Avoid Estate Contests & Family Disputes?
The last thing anyone wants is for their legacy to be defined by a courtroom battle. Family disputes often arise from unclear language in a will, outdated documents, or a plan that doesn't account for recent life changes.
While you can’t control how every individual reacts, you can significantly reduce the risk of conflict through a professionally drafted, well-documented estate plan. By ensuring your documents are legally sound and reflect your current intentions, you provide your family with a clear roadmap to follow.
Specialized Legal Support
- Digital Asset Protection: We help you secure and inventory digital wealth, including online accounts and cryptocurrency, to prevent loss or legal complications for your heirs.
- Charitable Giving: We assist with strategies like donor-advised funds and charitable trusts to align your plan with your personal values while providing potential tax benefits.
- Support for Veterans: We specialize in coordinating VA benefits with your estate plan to ensure you receive the maximum support available for long-term care.
Start planning your legacy today. Whether you are creating your first plan or updating an existing one, we provide the practical guidance you need to protect what matters most. Call (732) 538-7904 or reach out online to schedule your free consultation.
