Two-time Oscar winner Gene Hackman and his wife of 34 years, Betsy Arakawa, were found dead in their home in February. An investigation revealed that she had died first, and Mr. Hackman about a week later. Their wills, filed in probate court two weeks later, reveal a thoughtful estate plan. Simultaneous deaths. Under the common…
Year: 2025
Choices About What Will Happen To Your Body When You Die
Most estate planning discussions are about the transfer of wealth in order to create a lasting legacy. Although this might be the most important thing to consider for those that remain, a question that doesn’t get quite as much attention may be a bit more personal and even harder to think about – What will…
Inheritance Protection Plans
There are three primary methods for distributing an inheritance: Outright. The simplest approach is to give the heir full control of the inheritance, without restrictions. For heirs with sufficient financial maturity and investment savvy, this may be appropriate. General needs trust. Trust planning comes immediately to mind when planning for a surviving spouse or an…
Who Is the Right Trustee — Family, Friend or Corporate — For You?
Choosing the right trustee for your estate plan is one of the most critical decisions you’ll make. Many individuals initially lean toward appointing a family member due to familiarity or cost-saving assumptions. However, this decision can lead to unintended challenges. Instead, selecting a corporate trustee, such as Garden State Trust Company, can provide long-term benefits…