Library
Posts By Thomas D. Begley, III
Attorney At Law
Power of Attorney Mistakes That Can Cost You Everything
What Exactly Is A Power Of Attorney, And Why Is It Crucial In Estate Planning? A power of attorney is a critical document that allows someone to step into another person's shoes to manage their personal, medical, and financial affairs if they become incapacitated. As...
Revocable vs. Irrevocable Trusts in New Jersey: What’s the Real Difference
What Is A Trust And How Does It Function In Estate Planning? A trust is a legal agreement that can serve various purposes in estate planning. Unlike a will, which outlines asset distribution after death, a trust can be a substitute for a will and provide additional...
Navigating Debt After Death: Estate Responsibilities Explained
What Happens To A Person's Debt When They Pass Away In New Jersey? When someone dies, their debt doesn't transfer to their heirs. Instead, the estate is responsible for settling any debts. If there are assets, especially those passing through probate, they are used to...
Medicaid’s 5-Year Look-Back Rule in New Jersey: What Triggers Penalties
What Is The Five-year Look Back Rule In New Jersey, And Why Does It Exist? The five-year look back rule is a federal regulation applicable in New Jersey and other states, designed to prevent individuals from giving away assets to qualify for Medicaid benefits...
Navigating Probate In New Jersey
What Is Probate In New Jersey, And What Does That Process Actually Involve? Probate in New Jersey is the court's oversight of the estate administration process. It is generally straightforward and cost-effective compared to other states. When someone passes away, the...
Understanding Intestate Succession In New Jersey
What Does It Mean Legally To Die Without A Will In New Jersey? Dying without a will in New Jersey subjects your estate to the laws of intestate succession. This means the state decides how your assets are distributed, which often doesn't align with personal wishes....
Navigating Real Estate In Your Estate Plan
Why Is Real Estate Often The Most Challenging Part Of An Estate Plan, Especially For Vacation Homes? Real estate can be particularly tricky in estate planning due to its sentimental value and the potential for multiple heirs to have differing interests. Vacation...
Understanding Special Needs Planning in Estate Law
Why Isn't Traditional Estate Planning Enough When A Family Member Has Special Needs? Traditional estate planning often falls short for families with special needs members because it doesn't account for needs-based government benefits. Receiving an inheritance outright...
Avoiding Family Conflict in Estate Planning
Why do families often fight after a loved one passes away? Over the years, I've observed that family conflicts often arise from long-standing sibling rivalries or unequal treatment in the will. Sometimes, siblings never got along even as children, and these tensions...