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We want to have. A living trust , we have been advised to not have a joint trust but two separate trusts, New Jersey sound right

1 Answers. Asked on Jan 13th, 2017 on Elder Law - New Jersey
More details to this question:
No need to put our house omit or money, only out of state property . We live in New Jersey, and this will avoid nj probate taxes
Answers Showing 1 out of 1
Answered on Jan 14th, 2017 at 12:52 PM

There is no such thing as New Jersey probate tax.   If you have out of state property, you might consider putting it into a trust to avoid having to go through probate in the state where the property is located, but there is no NJ probate tax.  There have been some changes to the New Jersey estate taxes, and if you are leavling assets to a more distant relative or someone not related to you, there might be inheritance taxes.  

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Elder Law
As adults age, they often lose some mental acuity while also facing more physical limitations. These health conditions put senior citizens at greater risk of exploitation and abuse. At the same time, the elderly need to think about their long-term medical and financial needs, and make estate plans to ensure their legacy after they pass away. An elder law attorney can work with seniors and their families to address issues such as advanced directives, powers of attorney, living wills and last wills and testaments. Elder law lawyers can also help families intervene if a guardianship or conservatorship is necessary. And personal injury law firms with experience in elder issues can help victims of elder abuse and nursing abuse take civil and criminal legal actions against their abusers.
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