New Jersey Trust Without An Attorney
Description
How to fill out New Jersey Living Trust For Husband And Wife With No Children?
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FAQ
Many estate planning attorneys will suggest that an individual have both a will and a living trust in New Jersey. It's important to discuss your particular needs with an estate planning attorney in New Jersey to understand how either document will fulfill them.
To create a living trust in New Jersey, the trust document is signed by the trust-maker in front of a notary public, and then ownership of assets must be transferred into the name of the trust to make it effective.
How much does a Trust cost in New Jersey? In New Jersey, the cost of setting up a basic Revocable Living Trust generally ranges from $1,000 to $3,000. More complex trusts may cost even more.
Under New Jersey law, trusts must be created through a written document. While having witnesses and notarizing the trust document technically aren't required, these measures can help safeguard against claims that the document isn't valid. The grantor must also have legal capacity to create the trust.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.