Will a living trust help with probate and inheritance taxes?
Will a living trust help with probate and inheritance taxes? Updated Jan 11, 2021; — Planning A. We’re glad you’re trying to plan ahead to make sure your wishes are followed. A living trust is a trust that is created during a person’s lifetime. New Jersey’s Uniform Trust Code, N.J.S.A. 3B:31-1, et seq., governs the creation and validity of trusts, said Shirley Whitenack, an estate planning attorney with Schenck, Price, Smith & King in Florham Park. She said assets in a trust are not subject to the probate process. But, she said, the probate process in New Jersey is simple and there...
Source: lehighvalleylive.com