Certified New Jersey Elder Law Attorneys

McHugh & Macri
Certified Elder Law Attorneys Serving New Jersey Residents since 1978.
Call 973-577-6010 For a Free Initial Consultation “Fee Free” Consultation

May 2013 Archives

NAELA National Academy of Elder Law Attorneys, Inc. MEMBER

Estate planning not only for wealthiest New Jersey residents

Any New Jersey resident contemplating their final will, power of attorney or disposal of assets may benefit from legal advice. Those with less than millions in assets sometimes overlook the benefits of a tailored estate plan. After all, the federal estate tax includes an exemption for the first $5.25 million. However, estate planning tools may still be useful for those who plan to claim only part of this exemption.

Planning around New Jersey, federal estate taxes

When a person creates a will as part of their estate plan, they are taking a thoughtful step to provide some peace of mind. However, the demands of New Jersey's tax code may require individual to take additional steps to make sure their loved ones benefit as much as possible. Thoughtful tax planning may become a necessity when considering the possibility of inheritance and estate tax assessments in our state.

Many veterans pass away before they receive benefit approval

Over the last several years, it has become very apparent that the benefit administrators for the Department of Veterans Affairs are swamped. As the number of pending benefit claims approaches 1 million, the time that veterans and their spouses are waiting on appeals is growing tremendously. This was the case for one New Jersey woman who actually passed away before the VA handled the claim filed on behalf of her husband.

New Jersey Senate committee clears way for federal Medicaid funds

There has been a lot of talk over the last few years about how federal health care reforms will affect the current state of benefit programs. One major component of the reform, known popularly as "Obamacare," is to provide federal funding for an expansion of the Medicaid program. In early May, New Jersey's Senate Health, Human Services and Senior Citizens Committee voted to allow federal funds to come to the state.

Unpreparedness surrounds the issue of long-term care

Aging is a simple fact of life. However, a recent study suggests that most Americans simply aren't prepared for the realities of the years ahead. Many New Jersey residents know that they may need to be placed in long-term care, but either don't want to think about it or don't understand the kind of planning that is often required to live the "golden years" in comfort.

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