Serving Jackson, Monmouth & Ocean County
In addition to our bankruptcy practice, our attorney at Fedoroff Firm, LLC can assist you in a number of other service areas, including matters related to real estate, estate planning, and probate. Our team has over 20 years of legal experience and can give you the thorough, tailored guidance that you need.
Real Estate in New Jersey
The Fedoroff Firm, LLC represents both buyers and sellers of real estate in New Jersey. We can assist you with a wide variety of real estate transactions. From contract to closing, we will do everything to protect your interests.
We can assist New Jersey clients with many types of real estate transactions, including:
- First-time homebuyers negotiating a mortgage
- Homeowners looking to sell a property
- Experienced homeowners acquiring investment properties
- Elderly individuals seeking to downsize and explore retirement home options
No matter your individual circumstances, we can guide you through the real estate process, answer your questions, and ensure that all of your concerns are properly addressed. We understand that every real estate transaction is different, and our services are always tailored to the needs and objectives of the client. We will work closely with you to strategize on how to best manage your real estate transaction as efficiently and effectively as possible.
Estate Planning in New Jersey
Planning for tomorrow is not always easy and often is a source of stress and anxiety. It can be startlingly easy to put off estate planning until is too late. The reality is that everyone needs a plan, and the sooner you start, the better. Fedoroff Firm, LLC can assist with establishing the foundational elements of your estate plan. We understand that estate planning involves contemplating and making tough decisions about what will happen once you are gone, but we can partner with you to make the process as painless as possible.
Our firm can help you with many critical estate planning tools, including:
- Wills. A last will and testament serves as the bedrock for the vast majority of estate plans. In this essential document, you will be able to name an executor to manage your estate, beneficiaries to your property, and a guardian to any minor children. Formalizing a will requires taking specific steps that we can walk you through to ensure your final wishes are honored.
- Advanced Healthcare Directives. These legally enforceable instructions allow you to dictate how and what medical care you wish to receive across a number of potential scenarios, including end of life care or situations involving resuscitation. Without these directives, any decisions where you cannot explicitly advocate for yourself may need to instead be made by medical personnel.
- Powers of Attorney. Consider what would happen to you and your interests if you were suddenly unable to communicate. If you were to become seriously injured, ill, or otherwise incapacitated, you will need medical and financial powers of attorney to manage your affairs. You can authorize trusted individuals to make medical and financial decisions on your behalf within a scope that you define.
Many young and healthy individuals mistakenly believe that they do not need to engage in estate planning until they are older or have more lucrative assets. The truth is that estate planning can protect you and your loved ones no matter your age, condition, or possessions. Powers of attorney and advanced healthcare directives are specifically intended for situations where you become incapacitated, and while it can be unpleasant to think about, a critical accident can occur to anyone at any time.
We can evaluate your concerns and goals and recommend what estate planning tools you will need to achieve them. Our team provides personalized, one-on-one advice and can prepare, formalize, and update the documents that you need.
Probate in New Jersey
Losing a loved one is always devastating. Navigating the complexities of the legal system after such a loss can make a bad situation considerably worse. Though they may have done so with the best of intentions, being named executor or appointed administrator of a loved one’s estate can represent a tremendous logistical burden, especially when you are still mourning and may not be familiar with the ins and outs of the process.
Our team at Fedoroff Firm, LLC can give you the legal assistance you need when navigating probate. We have a complete understanding of the machinations of probate in New Jersey and can serve as your guide through every step of the process. We can simplify what can be a daunting responsibility through our advice, empathy, and personalized attention.
Our lawyer can guide you through each step of the probate process, including:
- Initiating probate with the appropriate court. To begin probate, you will have to file the appropriate paperwork with the local court serving the jurisdiction where your loved one lived at the time of their passing.
- Locating and validating the will. Hopefully, your loved one will have left a last will and testament that, among other things, names you as executor. The court will attempt to validate the will – that is, recognize it as legitimate – and field any objections to its authenticity. If there is no will (or the named executor is not available), the court will instead appoint an administrator, which serves the same function of managing the estate during probate.
- Notifying heirs, beneficiaries, and creditors. The personal representative is responsible for tracking down and contacting all relevant and interested parties who have business with the deceased person. This includes naming any immediate heirs and beneficiaries that are named in the will. (If there is no will, immediate family members are typically contacted instead.) Any creditors must also be contacted and given the opportunity to request payment for any outstanding obligations.
- Inventorying and appraising assets. The personal representative must conduct a thorough review of the deceased person's holdings and possessions and create an exhaustive inventory to be assessed by the court. This will likely include appraising certain assets, including real estate property, which the personal representative is also responsible for facilitating.
- Settling debts and filing taxes. Creditors have a right to be repaid before assets are distributed to beneficiaries. If there was not sufficient funding set aside to settle any remaining obligations, certain property may need to be sold to cover debts.
- Distributing assets. Once obligations to creditors have been met, the personal representative can distribute assets in accordance with the deceased person's final wishes. Should there be no valid will, assets will instead be distributed in accordance with New Jersey’s intestacy laws, which prioritize property being given to immediate family members.
- Managing obstacles and closing the estate. After debts have been paid and assets distributed, the personal representative offers a full report of their actions to the probate court, after which the estate can be considered “closed.” We can help you navigate any obstacles that you encounter throughout the process and help you complete all necessary documentation.
We can be your ally in the difficult time that follows the passing of a loved one. With compassion and understanding, our firm will bring a sense of calm to your time of turmoil. You do not have to face complex matters of probate alone, and together, we can move through the process as quickly and painlessly as possible.