E329 February 24, 2010
1. WILLS AND ESTATES — ADMINISTRATORS 3826880 I/M/O Estate of Hope, App. Div. DOCKET NO. A-2988-08T32988-08T3 It has long been
recognized that "'courts are reluctant to remove an executor or trustee without clear and definite proof of fraud, gross carelessness or indifference.'" Decided In this appeal by two of the decedent's adult children of the trial court's denial of their motion to remove the administrator cum testamento, the appellate panel finds no abuse of the trial judge's discretion and affirms the denial. The appellants failed to submit any competent proof that the administrator's judgment in selling one property for less than the appraisal constituted fraud, gross carelessness or indifference under the circumstances. Similarly, they failed to establish a prima facie case justifying removal based on a failure to protect the estate in connection with his attempted sale of the larger property as there is nothing exceptionable about a contract of sale where the purchaser requires governmental approvals to sustain a higher purchase price and it is clear that appellants sought to frustrate the contract by delaying and preventing the necessary governmental approvals. Moreover, the estate was not harmed by the absence of a right of termination prior to the expiration of the contract. Source: From: NJ Law Journal Daily Briefing 02/23/2010 email@example.com
2. Choosing Beneficiaries for IRA , life insurance, etc
You can name beneficiaries to receive certain assets after your death, including individual retirement accounts (IRAs), life insurance policies, and annuities. Make those designations carefully, since they typically override any provisions in your will. Consider the following points: List all assets with beneficiaries, noting the owner, primary beneficiary, and contingent beneficiary. Also indicate the expected value of each asset. Select the most appropriate person as beneficiary for each asset. In some cases, tax and estate planning considerations may help dictate whom to choose. For instance, spouses typically have more options when inheriting an IRA, so that may be the better choice for your IRA.
Name contingent beneficiaries. Without a named contingent beneficiary, the asset will be included in your probate estate if your primary beneficiary dies before you. Then, the asset may have to go through the probate process and may be distributed to a beneficiary you had not intended to receive that asset. When naming more than one beneficiary, indicate what percentage of the asset each beneficiary should receive. Also decide whether each beneficiary's share should be distributed to that person's heirs or divided among the remaining beneficiaries if a beneficiary dies before you. Assess whether your beneficiaries are capable of managing the asset. If not, you may want to set up a trust to control distribution of the asset. Review your beneficiaries periodically to determine whether changes are necessary. A divorce, remarriage, spouse's death, or child's birth are all events that may require changes to beneficiaries. You should also review your beneficiary choices if you make changes to your will. Source: http://www.bizactions.com/index.cfm/ba/e110/fa/130014135G2286J30075 07P0P587T3/
3. Vercammen, Pagano champions for South Brunswick at District 20 wrestling tournament. From the Trentonian The South Brunswick wrestling team did have some bright moments on its home mat the District 20 Tourney. One came from Brendan Vercammen, who won the 171pound weight class with a 43 win over Steve Zafrani of Old Bridge. South Brunswick also got gold from 130pounder James Pagano, who beat Ryan Levinski of East Brunswick, 72, in his final. Other medal winners for South Brunswick who advanced to the Region 5 championship are Justin Lopez 2nd place, Chad Capraro, Frank Capraro, Justin DeAndrea, Jeff Goldhagan Brendan Vercammen is the two time District champ and defending Region 5 champion.
The Region V tournament kicks off Friday night at 5:30 p.m. at Hunterdon Central High School. Brendan is seeded 1st in the Region tournament. Full Trentonian Article: http://www. trentonian.com/articles/2010/02/21/sports/doc4b80b766ea1b8649764 657.txt 4. Next events: WILLS, PROBATE AND ELDER LAW Adult and Community Education WHEN: Monday March 8, 2010 7 8:30 P.M. East Brunswick Adult & Community Education Program East Brunswick High School, 380 Cranbury Rd Fee: $29 For additional information, call the East Brunswick Adult Education Office for registration information 732 6136989 WILLS, PROBATE AND POWER OF ATTORNEY SEMINAR WHEN: Wednesday March 10, 10:30 am Highland Park Office of Aging 220 South 6th Ave. Highland Park, NJ 08904 Fee: no cost For additional information, call the Highland Park Office of Aging 732 8190052
Published on Sep 19, 2010
Published on Sep 19, 2010
E329 February 24, 2010 You can name beneficiaries to receive certain assets after your death, including individual retirement accounts (IRAs...