E571 1. Why some persons create Trusts in addition to Wills, 2 Next YouTube videos. 3. Recent Cases: Next YouTube videos 4. Carol Vercammen Mom. 5. Community Events
1. Why some persons create Trusts in addition to Wills
Probate is defined as the procedure by which an Executor proceeds to admit a Will to the jurisdiction of the Surrogate Court, which is proved to be valid or invalid. The term generally includes all matters relating to the administration of estates.
New Jersey is a probate easy state. Very few persons in NJ really need a $4,000 Revocable or Irrevocable Trust for their estate. For most NJ citizen, a $500 Will is best for them.
There are instances where Surrogate Court monitoring of the estate is desirable. Much has been written about the disadvantages of probate.
Following are just a few of the problems associated with probate.
Lack Of Privacy
Documents filed with the Surrogate Court are public information. They are available for inspection to anyone who asks. In large estates, which require an accounting, your probate file will contain a complete list of all assets devised by your Will including business assets. This lack of privacy may lead to problems among family members who now know the plan of distribution and may then contest any provisions with which they disagree. Disinherited relatives and creditors are notified and given time by the Court to contest the Will distribution.
The probate of an estate may take several months to several years to complete. During that time family members may have to apply to the Surrogate Court for an allowance.
WHY SOME PEOPLE SPEND OVER $3,500 TO CREATE REVOCABLE LIVING TRUSTS
Fragmentation - Real Estate
If you own real property in more than one state, probate rules must be followed in each state in which real property is located. The cost and time may be increased.
A Revocable Living Trust is a legal device that allows you to maintain complete control over your assets and AVOIDS PROBATE. Because there is no probate of a Living Trust, your private financial matters remain private; there are no probate costs, no long delays and loss of control, and no fragmentation of the estate. However, there is no Medicaid benefit or tax benefit with a revocable trust
You Maintain Complete Control Over Your Property In Trust If Revocable
The principle behind a Revocable Living Trust is simple. When you establish a Living Trust, you transfer all your property into the Trust, and then name yourself as trustee, or you can name you and your spouse as co-trustees of the Trust.
The trustees maintain complete control over the property, the same control you had before your property was placed in trust You can buy, sell, borrow, pledge, or collateralize the trust property. You can even discontinue the Trust if you choose. That is why it is called a "Revocable" Living Trust. We will explain the "Irrevocable Trust" at the end of the article.
Transferring Property Into The Trust
Anywhere you have assets, you will need help in transferring your property into the Trust. Your attorney, securities investor, etc., will provide you with assistance needed to transfer your property into your Revocable Living Trust. Your attorney will need to prepare new deeds, affidavit of title and other legal documents to transfer ownership of real estate in NJ.
Probate records are public; your Revocable Trust documents are private. A Revocable Living Trust will safeguard the privacy of your family and your private financial matters.
Naming A Trustee
Most people name themselves and their spouse as the initial Trustees of their Trust. This is usually true unless one spouse is incapacitated to the point that he or she is not able to manage your assets in the same way you do now.
Gifts To Religious And Charitable Organizations
Many people wish to give a portion or sometimes all of their assets to a religious or charitable organization in order to carry on the work of those organizations that have given them comfort or peace of mind during their lifetimes. This is easily accomplished with a Revocable Living Trust.
Marital Tax Deductions
A Revocable Living Trust can easily be structured to automatically create separate Trusts upon the death of either your spouse. Here's how it works. If the wife dies first, the husband has total control of his Trust. Also, for the remainder of his life, he receives all income from her Trust and has the use of the assets whenever needed for living expenses. When he dies, each Trust will claim its tax exemption, and over $11.5 million will go tax-free under Federal Law to their children, or any other beneficiary they designate, without having to go through probate.
2 Next YouTube videos
For DWI PCR on prior uncounseled DWI proceeding, neither an indigent nor a non-indigent defendant must show that the outcome would have been different had he been represented State v. Patel
39:4-86 Failure to overtake and pass properly 4 points
39:4-89 Tailgating Following vehicle too closely 5 points
3. cases Refusal of consent to search is inadmissible at trial State v Tungunpublished
The court reverses defendant's conviction after trial for murder of his estranged wife's lover. The court determines that testimony and an unabridged audiotape of defendant's invocation of the right to counsel, his refusal to consent to a search of his computer and car, and the interrogating officer's opinion that defendant was lying cumulatively constitute plain error. The court relies on federal and out-of-state case law to decide that a refusal of consent to search is inadmissible in these circumstances. Given the paucity of direct evidence of defendant's guilt, this improperly admitted evidence undermines the integrity of the verdict. (A-3692-15T1) source https://www.law.com/njlawjournal/almID/1562724879NJA369215T/
4. Carol Vercammen Mom
The Vercammen family thanks the hundreds of persons that attended the farewell service for Carol Vercammen, or sent a card, flowers, email or other condolence. Mom had a fun filled life with many adventures. She never stayed home after retirement. She was always at our Happy Hour at Bar Anticipation in the summer and other fun events. I posted a few fun photos of Carol with family and friends. Her photo album and scrapbook had over a thousand photos over the past 61 years with Al and family and friends
Family & Life details at:
also Shannon’s video tribute:
Kenneth Vercammen, Esq. [the oldest son]
5. Community Events:
Oct 31Edison Elks Spooky Thursday 7-9:30 Music, food, fun open to public
November 3 Free Outdoor concerts at Edison Millwork & Hardware
First Sunday of the month 9 Old Post Road, Edison, NJ 08817
12-6pm. Bring your beach chairs [indoors if bad weather]
November 16th, Miracle Madness Kickoff Party Edison Elks 7:30 Gypsy Kicks Band $20 includes food
November 18, Woodbridge Library
Wills, Estate Planning & Probate Seminar 7 pm Monday
Woodbridge Public Library
1 George Frederick Plaza
Woodbridge NJ 07095
November21st Thirsty Thursday Edison Elks
423 Main Street
Sayreville NJ 08872
open to the public
6. Fun Upcoming Running Races & Charity events participated by Kenneth Vercammen- Ken V is running 60 charity races in 2019
Nov. 2, 2019 - RWJ Barnabas and the Devils 5K Run/Walk in West Orange, free entry to Turtle Back Zoo
11/3/19 Watch NY Marathon [Ken competed in NY marathon twice].
11/16 Manasquan Turkey Run 5-mile 11am party at Leggett’s after race discount beer co sponsor Wakefern Shoprite jsrc.org Manasquan
11/23/18 Born to Run 5 mile Freehold 11am Friday great Freehold FARC event
11/24 Crazy Eddie Memorial Hash run- not a race, trail hash with beverage stops Saturday Rumson Hasher HHH12/1/19 Navesink Challenge 15k & 5k 10am 10:10 for 5k Post race at Red Bank elks[Ken V runs 5k]
Thank you speaker NJ Bar Webinar: Estate Planning for the “Difficult” Adult Child – How to Plan in Cases of Addicted, Perpetually Out of Work and Unhappily Married Children
Alex Clark and Kenneth Vercammen. Also speaking Beth Manes
Webinar will be available in November for purchase to watch in November
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