In Terrorem Clauses – Enforceable or Not? (Part 1)
Hauptman and Hauptman PC Blog
by Yale Hauptman
3d ago
In this week’s post I discuss in terrorem clauses, more commonly known as no contest clauses which can be found in a last will and testament.  In terrorem is a Latin term meaning “in fear”. The purpose of such a clause is to discourage will challenges.  The clause states that if an ..read more
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2025 Social Security Cost of Living Adjustment
Hauptman and Hauptman PC Blog
by Yale Hauptman
1w ago
When we get to the end of the year, it’s time to look ahead to what numbers may change in 2025 for the government programs from which our clients receive benefits.  It starts with the Social Security Administration, which announces its cost of living adjustment (COLA).  Other government programs then adjust their ..read more
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What Qualifies as a Last Will and Testament? Part 3
Hauptman and Hauptman PC Blog
by Yale Hauptman
2w ago
In my last 2 blog posts I have explained the elements of a last will and testament.  New Jersey law clearly sets out the requirements which, if followed, make the probate process much easier than when the law is not followed. While I am always an advocate for consulting with an ..read more
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What Qualifies as a Last Will and Testament? Part 2
Hauptman and Hauptman PC Blog
by Yale Hauptman
3w ago
In my blog post last week, I explained the elements of a validly executed will.  When someone dies with a will, it must first be admitted to probate before the executor named in the document can begin to do what is required to administer the decedent’s assets. In New Jersey, if ..read more
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What Qualifies as a Last Will and Testament? Part 1
Hauptman and Hauptman PC Blog
by Yale Hauptman
1M ago
What Qualifies as a Last Will and Testament? Part 1 In my first conversation with family members after a loved one dies, not infrequently someone will tell me that the decedent (person who died) verbally expressed his or her wishes about how they wanted their estate to be distributed.  In some ..read more
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Social Security Benefits and Taxes (Part 2)
Hauptman and Hauptman PC Blog
by Yale Hauptman
1M ago
In last week’s post I talked about Social Security.  I specifically focused on how, for many Americans, Social Security benefits are the sole source of income but most of these benefits are subject at least in part to income tax.  That is the case for a single person who has more than ..read more
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Social Security Benefits and Taxes (Part 1)
Hauptman and Hauptman PC Blog
by Yale Hauptman
1M ago
Social Security benefits are the primary source – and in some cases the sole source – of income for a majority of Americans.  Many Americans have little to no retirement savings.  Company pension plans have become rare and even when available, most people do not stay with a single company long enough ..read more
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What is an Insolvent Estate? (Part 3)
Hauptman and Hauptman PC Blog
by Yale Hauptman
1M ago
In my blog post last week, I explained that when the assets of a decedent are insufficient to cover all estate debts, the debt is classified by priorities.  Debts are entitled to be paid in a certain order of priority.  Eventually, however, in the case of an insolvent estate we will get ..read more
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What is an Insolvent Estate? (Part 2)
Hauptman and Hauptman PC Blog
by Yale Hauptman
2M ago
In this week’s blog post, I continue a discussion of insolvent estates.  An insolvent estate is one in which there are not enough assets to cover all of an estate’s debts. The personal representative can’t, however, simply pay the bills as they come in.  That’s because New Jersey probate law determines in ..read more
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What is an Insolvent Estate? Part 1
Hauptman and Hauptman PC Blog
by Yale Hauptman
2M ago
As I have written about previously in this blog, estate administration involves gathering the assets of the person who died, paying all debts and taxes owing, and distributing the remaining assets to the rightful heirs – determined either by a will if there is one or by state intestacy laws ..read more
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