Which kind of trust is the best to avoid probate in New Jersey?
Posted on Sun Oct 18, 2015, on Trusts
From our “Ask a Question” Mailbag: New Jersey Trust Documents to Avoid Probate
Most Recently Updated July 21, 2018.
“There seems to be many different types of trusts. Which one is the best to avoid probate?”
New Jersey Trust Documents to Avoid Probate
Trusts are very flexible estate planning tools. They can be used to avoid creditors, shelter assets from divorce, reduce taxes, and to avoid probate. To avoid probate in New Jersey, you could use a Revocable Living Trust or you could use any number of different Irrevocable Trusts.
Which trust is best suited for your will depends on several factors, including what types of assets you wish to put into the trust, whether you wish to use and enjoy the asset during your lifetime, and what type of tax savings (if any) you may wish to achieve. To narrow down what type of trust would best meet your goals, I would need to know more information so feel free to set up a free consultation.
More Planning Questions?
The trust is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.
In Conclusion: New Jersey Trust Documents to Avoid Probate
I hope that this article was helpful in explaining trusts. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!
Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers. By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!
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Tags:Atlantic County, Avoiding Probate, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Irrevocable Trust, New Jersey, Revocable Trust, Trusts