Legal Question in Credit and Debt Law in New Jersey

Re: Property in Trust

This is a complex area of the law, so you need to speak with an attorney who concentrates in Wills, Trusts & Estates. Even when you form a trust, there are questions the IRS looks at, like there is generally a 3 year "look back" period, where if the person dies 3 yrs + 1 week after executing the will and trust, you are fine, but if they go into long term care at 2 years, 11.5 months, they state may end up getting at their assets. Speak with an estates attorney!

Re: Property in Trust

I agree with Kevin, that this is a very complicated question. I need to know more about your parent�s circumstances to give you a good answer. However it is clear based on your question that they need to speak with an attorney about estate planning.

You should also be aware that New Jersey law has a look back period for transfers made to avoid creditors.

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