The bankruptcy process provides a way for people struggling with their debt to start over. But, before beginning the process, it’s essential to research the various options you have to ensure that you make the best decision for your future. Chapter 7 Bankruptcy...
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3 common estate planning myths
Creating an estate plan is the best way to protect your family, finances, and legacy. But many New Jersey residents procrastinate when it comes to creating their estate plan. They may falsely think the entire process is too complex or confusing, or they may even...
What can a will do?
When you pass away, your loved ones need to know what you intend for them to do with the money and property you leave behind. A little Estate planning now can help them navigate the probate process as quickly and painlessly as possible in the future. That is the power...
Selecting a trustee or personal representative
When you create estate planning documents, you will need to select people to administer those documents when the need arises to use them. Your trustee or personal representative does not need specific qualifications or certifications. The only requirement is that they...
Methods to avoid the gift tax
The transfer of property, cars, or money to any individual without receiving an equal value or more in return is considered a gift. While New Jersey does not have a gift tax, per se, the IRS does impose one, under most circumstances. The gift tax may apply when making...
How is my credit affected after bankruptcy?
Concern about future credit is a primary concern of many people who file for bankruptcy. People wonder if their credit score will drop dramatically, and if it will stay that way forever or if credit can be rebuilt. Regarding this issue, the Supreme Court said in a...
Ensure your estate plan protects your home
As a homeowner, you may assume you know what will happen to your house after your death. If you have not made specific arrangements for such a transfer, however, your house could end up causing a headache for your heirs. New Jersey allows for several ways for you to...
The advantages and disadvantages of creating a trust
Many people think that trusts are only for the extremely wealthy. At , we have been helping people create estate plans for nearly 40 years. We know that anyone who wants or needs to incorporate a trust into their estate planning can do so,...
What to look out for in a purchase agreement
There’s a lot of money involved when purchasing or selling residential property. That’s why all parties must be aware and informed when it comes to agreeing to the terms of the purchase. A purchase agreement includes the purchase price, address of the property,...
What estate planning tools are available to you?
At Mariano & Coiro, P.C. we have been handling estate planning for New Jerseyans for almost 40 years, and we know that your wishes for your legacy are unique. You may want to provide for your family, support a good cause or protect the wealth you have built during...