How to Manage a Revocable Trust

Manage a Revocable Trust | The Pollock Firm LLC

Back in May of 2022, I wrote a post explaining What is a Revocable Living Trust. In this post, I would like to focus on how to manage a Revocable Trust. (I will be using the term Revocable Trust and Living Trust to mean the same thing.) In understanding how to manage a Revocable Trust, […]

A Guide to Trusts for Children

Trusts for children

When clients meet with an estate planning attorney, one of the biggest concerns that people have is that they do not want their children to receive too much money too early. Accordingly, they want to set up a trust for their children.  This is true even if the children do not have special needs or […]

NJ Special Needs Trusts: Can the Trustee Buy Clothing?

NJ Special Needs Trusts: Can the Trustee Buy Clothing?

Although the federal government clearly changed the rules in 2005 to allow a Trustee of a First Party Special Needs Trust to buy an unlimited amount of clothing for person receiving Medicaid and SSI, there is still a lot of confusion regarding this issue in New Jersey. New Jersey Administrative Code Section 10:71-4.11, which was […]

New Jersey Enacts Uniform Trust Code into Law

Uniform Trust Code

While this may not sound like big news, it is actually very exciting that New Jersey has finally enacted the Uniform Trust Code (UTC) into law.  The new law will go into effect on July 17, 2016.  When it does, New Jersey will join Pennsylvania, Florida and a majority of other states in adopting most […]

Calculating Trustee Commissions in NJ

Calculating NJ Trustee Commissions

From time to time, people ask me how executor’s commissions and trustee’s commissions should be calculated.  I have already written a post on calculating executor and administrator commissions, so this post will focus on Trustee commissions. New Jersey statutes on trustee commissions are very difficult to interpret because they use the term fiduciary to apply […]

Executor Commissions: Calculating in New Jersey

Calculating NJ executor commissions

From time to time, people ask me about trustee and executor commissions in New Jersey.  Because it is a bit complex, I have broken it down into two posts and I will focus on administrator and executor commissions today. To start, a Will can specifically provide for an executor’s commission.  In that absence of expressly authorizing a […]