Toms River, New Jersey - Christine Matus of The Matus Law Group (https://matuslaw.com/5-tips-creating-revocable-living-trust/) outlined five practical steps for establishing a revocable living trust, highlighting how a thoughtful plan can streamline asset management and transfer while avoiding probate where appropriate. As a leading New Jersey living trust attorney, Matus presented guidance drawn from decades of drafting and administering trusts for families across the state, with a focus on flexible control during life and clear directives for beneficiaries.
Building on this framework, the New Jersey living trust attorney emphasized careful funding and trustee selection as foundational elements. Real estate located in New Jersey and other states can be retitled to the trust to reduce multi-state probate exposure. Nonretirement bank and brokerage accounts, CDs, and taxable investment accounts can also be integrated so the trust functions during incapacity and at death. Selecting a capable successor trustee remains critical, since this individual carries out the grantor’s stated instructions and maintains fiduciary standards. Matus noted that retirement accounts such as IRAs, 401(k)s, and 403(b)s should remain in the owner’s name, relying on beneficiary designations rather than retitling, due to tax rules and the SECURE Act’s payout provisions.
The New Jersey living trust attorney further advised including an incapacity clause that authorizes a successor trustee to act upon a stated trigger, such as written physician certification. This clause can reduce the need for court-supervised guardianship for trust property. For non-trust assets and health-care decisions, a coordinated durable power of attorney and advance directive are still necessary under New Jersey law. In addition, April 1, 2024 changes to FDIC insurance now provide a simplified framework for trust deposits: coverage is $250,000 per trust owner, per eligible primary beneficiary, capped at $1,250,000 per owner, per bank when there are five or more eligible beneficiaries. Naming only intended, eligible beneficiaries and aligning titles, deeds, and institution forms help the plan operate as designed. For vehicles, New Jersey’s Transfer on Death option can pass a car outside probate, while life insurance can name a trust as beneficiary to centralize oversight for minors or beneficiaries who need management.
Matus also highlighted common funding steps: record a new deed for real property, execute assignments for business interests and LLC units, and work with financial institutions that may request a certification of trust. Where public benefits are involved, a supplemental needs trust can preserve eligibility while directing support according to New Jersey Medicaid rules. These measures, combined with periodic reviews, keep the trust aligned with evolving family dynamics and regulatory updates.
About The Matus Law Group:
The Matus Law Group is a New Jersey law firm serving families and individuals in estate planning, living trusts, special needs planning, elder law, and real estate matters. Led by attorney Christine Matus, admitted to the New Jersey Bar and the U.S. District Court of New Jersey in 1995, the firm provides tailored planning across Ocean County and communities throughout the state. The team supports trustees and families with trust creation, funding, and administration, as well as related real estate and business transfers. For consultations or more information, contact The Matus Law Group to schedule an appointment.
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Company Name: The Matus Law Group
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Website: https://matuslaw.com/monmouth-county-nj/
