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

November 2013 Archives

NAELA National Academy of Elder Law Attorneys, Inc. MEMBER

It is never too early to plan for long-term care

People who live in New Jersey may be optimistic about how they think they will spend their senior years, and most probably believe they will be able to continue to live independently. Unfortunately, statistics reveal a different picture. According to the U.S. Department of Health and Human Services, 70 percent of Americans who reach 65 may need an average of at least three years of long-term care.

Estate planning basics for New Jersey residents

While wills and trusts are generally associated with the wealthy, these types of documents are essential for anyone interested in making sure their assets will be handled in the manner they would prefer after their death. Estate planning is a way for people to ensure that their money or property goes to specific individuals or charities after their passing. There are a variety of ways to accomplish someone's goals, and many can reduce or eliminate potential tax burdens.

Tips for tax-free gift giving in 2013

New Jersey residents who are contemplating sharing their wealth in 2013 could benefit from some gift giving suggestions, especially if they do not prefer to pay unnecessary taxes. While people may feel the urge to write a check to a family member or friend impulsively, it is imperative to step back and follow the proper procedure in order to avoid owing a gift tax, which could end up being as high as 40 percent.

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McHugh & Macri
49 Ridgedale Avenue 
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East Hanover, NJ 07936
Phone: 973-577-6010
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