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Home | Wills & Estate Planning | Living Trust | New Jersey Living Trust

Create a New Jersey Living Trust

Atlantic City is a great place to gamble. The famous resort town is home to the first ever legal casino in the eastern United States and the site of incredible highs and lows on the part of the players. But you might live in New Jersey and never set foot on the boardwalk and be unwittingly gambling with your personal assets anyway. If you've done all of your estate planning with a last will and testament instead of using a living trust, the property you pass on to your heirs will be subject to estate taxes, probate court, and all sorts of fees that will drain your estate in a way that is a lot less fun than betting it all on black.

Estate planning is the process of organizing your financial and personal interests so that your wishes are met with a minimum of inconvenience and expense to your family. We all know a will allows you to plan for what happens to your possessions after your death; so does a New Jersey living trust. What's the difference between the two? Creating a trust is, in a way, creating a separate entity. Once you create this entity, it, not you, becomes the owner of every piece of property you transfer into it. Property owned by the trust, in most states, will avoid probate. Probate is an expensive, time consuming court procedure which executes a will. It can last up to three years and cost up to 10% of your estate.

For more information about living trusts, check out LegalZoom's free, online legal library. If a New Jersey living trust sounds right for your estate planning needs, form one today by filling out our easy-to-follow online questionnaire. Let LegalZoom give you the confidence that comes with a future well planned.