Library
Posts By Thomas D. Begley, III
Attorney At Law
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...
Estate Planning for Small Business Owners
What are the biggest estate planning issues small business owners often overlook? Many business owners neglect comprehensive planning, leaving behind either no plan or inadequate boilerplate agreements. A common issue is the lack of a detailed buy-sell agreement,...
Medicaid Planning for Married Couples in New Jersey
What are the first planning steps a couple should take when one spouse's health starts to decline? Before a crisis hits, it's crucial to ensure that all necessary legal documents are in order, including wills, advanced medical directives like durable healthcare powers...
Non-Probate Assets: What Bypasses Probate and Why
What does the term non-probate asset mean and how is it different from property that goes through probate? Non-probate assets are assets that pass outside of the probate process. These assets do not require court supervision for transfer upon the owner's death. They...
Why is estate planning crucial for individuals and their loved ones?
Estate planning is vital as it ensures that individuals can enjoy their assets during their lifetime while also ensuring that their assets are distributed according to their wishes after they pass away. Unfortunately, many people do not receive proper advice when...
Handling Estate Administration in New Jersey
What are the initial steps for someone named as an executor in New Jersey after a loved one passes away? In the first couple of weeks, it's crucial to secure the original will, obtain a certified copy of the death certificate, and schedule an appointment with the...
Funding Your Trust: Essential Steps for Estate Planning
What does funding a trust mean when someone signs their trust documents? Funding a trust ensures that the assets owned by an individual flow through the trust as intended. It involves directing assets or titling them correctly to ensure they pass through the trust...
What is the difference between inheritance tax and estate tax in New Jersey?
In New Jersey, the estate tax is a tax on the estate itself, while the inheritance tax is levied on the heirs based on the amount they receive and their relationship to the deceased. The estate tax has been repealed in New Jersey since January 1st, 2018, and the...
Choosing the Right Executor or Trustee in New Jersey: Avoiding Costly Fiduciary Mistakes
Why has fiduciary abuse become the leading cause of probate litigation in New Jersey? Thomas Begley reports that over 30 years, executor, trustee, and power-of-attorney misconduct now surpasses will contests and guardianships. Clients meticulously allocate assets but...