Many times we have potential clients calling insisting they need a trust because they had seen a program about it or read about it on Google. Sometimes they are quite right that a trust instrument is helpful in their situation. But revocable living trusts, for example, in New Jersey, have a very different level of usefulness than in some other states.
In some states you want to avoid probate like you want to avoid the latest COVID -19 variant, but in New Jersey the probate process is actually fairly straightforward. Trusts can be expensive to prepare and difficult to maintain and administer properly, so they should be used only when the benefits outweigh the detractions. It is NOT a cure all to all tax requirements.
Now there are some positives, particularly if you have certain types of beneficiaries or property in multiple states, but you really need to have a conversation with a lawyer who is NOT trying to upsell you something expensive you don’t need and decide what’s right for you.
Call 856-227-7888 to speak to an attorney who is more concerned about making sure your interests are protected then making sure you are doing everything possible to spend as much as you can on your lawyer and your gravestone.