Business

Three Issues that Can Arise When You Create a Cherry Hill Estate Plan Without a Lawyer

Published

3 years ago

April 2, 2022

No matter the size of your estate, you must establish your estate plan. You must avoid trying to make estate planning documents without consulting with an estate planning lawyer Cherry Hill. DIY estate planning has serious risks that can put your efforts to protect yourself and your family to waste. Planning your estate by yourself can lead to significant issues including the following:

Invalid Estate Documents

The state of New Jersey has specific laws that apply to estate planning documents. The statutes address what the documents contain and the requirements for executing the contents. Making even a single mistake in making an estate planning document such as a last will and testament could make it invalid. When your document is invalid, the state makes decisions on your behalf. Document validity is only one of the reasons you must speak with a skilled estate planning lawyer when creating an estate plan.

Unfit Plan

Estate planning is made based on your unique personal and financial circumstances. When you create a plan, ensure it reflects the circumstances of your family and the nature of the assets you own. While online forms and services are available, they do not know your situation. They may just ask limited questions that cannot assess everything about you, your property, and your loved ones. An experienced Cherry Hill lawyer will get to know you to learn everything about you and your finances. This way, they can provide you with estate plan options that suit your circumstances.

When you create an estate plan that does not fit your situation or address your circumstances, you may create serious tax and estate issues for the people you love. Plus, your heirs may not benefit from your legacy.

Incomplete Estate Plan

Estate planning is meant to address foreseen and unforeseen life contingencies. If you make a plan without a lawyer, you could end up with one that does not cover all contingencies. Your attorney is trained to make sure your estate plan covers every contingency that may impact you and your loved ones during your life and beyond.

Apart from having an incomplete estate plan, doing it on your own can lead to having a plan that does not accomplish your goals. New Jersey laws can impact how estate planning documents are interpreted, and such laws change over time. Your attorney ensures your plan accomplishes all of your goals under current laws. Also, they will alert you of any changes that impact your plan.

Business

Derik Fay: A Multifaceted Entrepreneur, Investor, and global business leader

Published

7 hours ago

March 21, 2025

Matthew Wiles

Derik Fay is a renowned celebrity entrepreneur, investor, and business leader with a diverse portfolio of successful ventures and a deep-seated passion for empowering others. His journey from humble beginnings to his extraordinary achievements is a testament to his resilience, strategic thinking, and unwavering commitment to making a positive impact on the world.

Born on November 19, 1978 and raised in Westerly, Rhode Island, Fay’s entrepreneurial spirit emerged at a young age. He founded his first large company at 22 (Around the Clock Fitness) that quickly became Floridas largest, and most successful independently owned fitness chain in the state before selling it to the publicly traded company Towns Sports International in 2109.

Sine that time he has built and scaled over 30 highly successful companies, achieving remarkable exits in the 7-to 9-figure range. His expertise spans various industries, including health & fitness, real estate, financial services, hospitality, and technology to name just a few.

Fay is also the founder and CEO of his main holding company 3F Management, (founded 2094) a venture capital and operational management firm that provides operational infrastructure, financial support, strategic partnerships, and other value add services directionally focused towards scaling and exiting.

Under the umbrella of 3F Management, Fay currently owns, is a co-owner, or is a cap table advisory member of over 40 other successful and growing brands.

Tycoon Payments, Results Roofing, BKFC, ManCandy, Fort North Media, Spintel, SendBuzz, Ritas Italian ice, FayMS Films, Eratyc Entertainment, Tycoon Funded, Pure Peptide Solutions, and 3F Financial, are just a few of the rapidly growing companies and brands that fill Fay’s entrepreneurial days.

Beyond his business ventures, Fay is a dedicated philanthropist, actively supporting various charities and causes. He is passionate about empowering the next generation of entrepreneurs and believes in the power of education and mentorship to create positive change.

Fay’s personal life is as fulfilling as his professional achievements. He is a devoted father to his two daughters, Sophia Fay (18) and Isabella Fay (16), and is engaged to his fiancée, Shandra Phillips (35) and is to be married in January 2026, in Naples Florida.

He enjoys spending time with his family, traveling, and pursuing his life long passion of health and fitness thru weightlifting and bodybuilding.

Derik Fay’s multifaceted career and unwavering commitment to excellence has established him as a respected figure in the business world, and a has gained global notoriety as role model for aspiring entrepreneurs.

His story is such an inspiration to all who seek to overcome challenges, achieve their goals, and make a meaningful impact on the world that Netflix is in post production on the documentary style film about Fays life journey from poverty to global success.