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What to Expect in a New Jersey Probate Proceeding
Let’s say you have been named the personal representative (also known as executor) in a relative’s or friend’s will, putting you in charge of handling their final affairs. This means going through probate — the process by which the will is validated and the estate administered. Having a basic knowledge of what to expect is […]
Let the NJ MVC help you with New Programs
NJ Motor Vehicle’s Next-of Kin Registry Did you know you can submit your emergency contact information to the New Jersey Motor Vehicle Commission (NJ MVC)? The Next-of-Kin registry allows NJ residents of at least 14 years or older to submit and maintain emergency contact information to the NJ MVC. The information is not public. It […]
Learn About the Nation’s Oldest Medal of Honor Recipient: Nicholas Oresko
We at the Paton Law Firm, LLC. are grateful to all our veterans because we know that we owe our freedom to all these brave men and women and their families. Kimberly learned about Nicholas Oresko who was a special veteran and wanted to highlight him. Nicholas Oresko was a Bergen County resident, and he […]
Avoiding Probate by Use of Trusts and Beneficiary Designations
A significant mental block in estate planning can be the belief that you need to create an all-in-one document — ominously known as a last will and testament — that directs how all your property will be distributed upon your death. But the truth is that there are simpler arrangements you can make to give […]
Why a Buy-Sell Agreement Is Vital for Your Small Business
A buy-sell agreement is a contract that establishes the terms and conditions for transferring business ownership interests in case of the retirement, disability, death or voluntary exit of a partner or shareholder or in case of another triggering event. Such an agreement can be essential to ensuring the viability of a small business and protecting […]
Tips for Keeping Your Home Purchase on Track
Purchasing a home is an exciting and significant milestone, especially when it’s your first. However, home-buying can be complex and can involve pitfalls that can delay or derail the transaction’s closing. As a buyer, you have certain contractual obligations to fulfill, and there are other steps you can take to help make the closing occur […]
Planning for Long-Term Assisted Living and Nursing Care
Seven out of 10 people in the U.S. will require long-term care in their lifetime. This includes help with activities and tasks that a person can no longer perform on their own, such as eating, bathing, dressing and attending to personal health. Whether your eventual need for long-term care results from aging, illness or an […]
Living Trusts Are Powerful Tools To Be Used With Caution
Living trusts are sometimes talked about as though they are the ultimate solution to every estate planning goal. It is certainly true that a living trust — which is simply a trust created and funded while you are alive — can help you accomplish a wide variety of things. But there is no silver bullet […]
Key Aspects of the CARES Act Provisions Authorizing Small Business Loans
Small business owners are necessarily prepared for various types of challenges, but what do you do when the government orders you to close for an indefinite amount of time? Unfortunately, the COVID-19 pandemic has put millions in this very difficult position. Even worse, it is still unclear in many places when authorities will allow businesses […]
Understanding How COVID-19 May Have Affected the Value of Your Estate
The economic and personal upheaval triggered by the COVID-19 outbreak is likely to warrant a review of your estate plan, no matter how thorough you think it is. As Americans cope with health fears and financial volatility, it’s worthwhile to determine whether a will, trust, advance medical directive or other legal instrument needs to be […]
