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07.27.2016
Court Rules Threshold For Testamentary Capacity Is “Very Low”
On March 28, 1994, Helen Weste executed a will that made three charitable bequests; left her personal property to one niece; and bequeathed the remainder of her estate in different percentages to a sister and eight nieces and nephews, including Joanne Halkovich. She named her ex-husband John Weste executor. In 1995, Helen left the apartment […]
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07.26.2016
The New Jersey Uniform Trust Code – Part Four: Creation of Trusts, Including Whether a Valid Trust Exists
CREATION OF TRUSTS, INCLUDING WHETHER A VALID TRUST EXISTS This section will address the requirements to create a valid trust. Given the fundamental nature of this topic, the survey will include at times national standards and New Jersey common law, along with the NJ UTC. Basic Requirements to Create a Trust Basic Requirements to Create […]
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07.21.2016
The New Jersey Uniform Trust Code – Part Three: General Provisions and Definitions of the NJ UTC (Article 1), Including Nonjudicial Agreements (Article 1), Representation (Article 2) and Miscellaneous Provisions (Article 9)
General Provisions and Definitions: Who is a Beneficiary Article 1 of the NJ UTC includes general provisions and definitions. The definitions for the UTC are in N.J.S.A. § 3B:31-3. Of particular significance are the following definitions: Beneficiary vs. Qualified Beneficiary. A trust “beneficiary” includes a person: “(1) who has any present or future interest, vested […]
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07.15.2016
The New Jersey Uniform Trust Code – Part Two: General Effect – And What is Not Changed by the NJUTC
Although the NJ UTC takes effect on July 17, 2016, it applies to trusts created before, on, or after its effective date. N.J.S.A. § 3B:31-84(a)(1). The NJ UTC applies to express trusts, charitable or noncharitable trusts, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the […]
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Eimi Figlio
Eimi specializes in the area of Estate Planning and Estate Administration. Eimi’s estate planning practice includes planning for both simple and complex estates. Her services include drafting basic and tax planning Wills, Durable Powers of Attorney and Advance Medical Directives, as well as preparing trust documents necessary to preserve family wealth and minimize tax consequences. Eimi also assists clients with gifting and transfers of family assets and closely-held businesses. Eimi’s estate administration practice includes all aspects of probate matters. including intestacy proceedings, probate of Wills, marshaling estate assets and providing an inventory, preparation and filing of Federal and New Jersey and New York estate tax returns, preparation of formal and informal estate accountings, and the final distribution of estate assets to the beneficiaries and heirs of the estate. Eimi also assists clients with post mortem estate planning opportunities. Eimi also represents clients in matters regarding Trust administration and Trust termination by way of informal agreement or formal court applications, including filing of accountings, as well as modification and revocation of Trusts by way of information agreement or by court application.