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

June 2013 Archives

NAELA National Academy of Elder Law Attorneys, Inc. MEMBER

New estate planning options for pet owners

Pets provide the comfort of companionship for many elder citizens and younger families. Most New Jersey pet owners know the importance of the family cat or dog, yet only 17 percent of owners include their pets in estate planning documents. Almost every state has created the option for pet trusts, and lower cost alternatives do exist for elders to ensure continuity of care for their animal friends.

Recent tax laws serve as benefit to estate planning

In recent years, Congress passed several laws benefiting American taxpayers, especially those with significant assets. The American Tax Relief Act of 2012 (ATRA) provides greater exemptions for gift and estate tax rates as well as important changes involving assets such as real estate and property valuation. Going forward, these changes may benefit estate planning for many people.

Parents should plan for college distributions

Considering a child's college education often means setting up a college fund and making plans to add to it periodically so that students will have needed funds when the time comes. However, many New Jersey parents who are conscientious about managing a child's college fund forget that estate planning should also be part of the overall goal to protect college finances. Without a good estate plan, funds can be misused or disappear before a child enters school.

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McHugh & Macri
49 Ridgedale Avenue 
Suite 1
East Hanover, NJ 07936
Phone: 973-577-6010
Fax: 973-887-6237
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