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Certified Elder Law Attorneys Serving New Jersey Residents Since 1978.

June 2019 Archives

Don't panic when a sudden medical crisis leads to a disability

While some people in New Jersey may be fortunate enough to make plans for long-term care while they are still in good health, many find themselves needing long-term care options only after a crisis occurs. For example, a person could unexpectedly suffer a stroke, or they could fall and break a hip, necessitating either in-home health care or care in a nursing home. People in such situations may be afraid that they will lose all the hard-earned assets they accumulated over a lifetime to pay for such care.

How common is the need for long-term care planning?

Some people in New Jersey plan carefully for the care they will need in their old age, but others may find their health has deteriorated quickly and they are in immediate need of services. According to the U.S. Department of Health and Human Services, on average a person who is currently age 65 will have nearly a 70% chance of needing some sort of long-term care before they pass away. On average women will need 3.7 years of long-term care services, while men will only need 2.2 years of long-term care services on average.

The costs of long-term care can be expensive

Young New Jersey residents in the throes of their careers and the midst of raising their children may not be able to see far enough into the future to a time when their lives are relaxed. The frenetic pace of everyday life can absorb individuals and cause them to lose focus of the fact that someday they may not want to or be able to work. Retirement is achieved by many individuals throughout the nation, but not all retirees find that they have saved enough money to cover all their long-term costs.

What duties are there regarding guardianship of the estate?

New Jersey courts generally want people to have as much autonomy as possible when it comes to making health care decisions and handling their financial affairs. However, sometimes a person becomes mentally or physically incapacitated to the point that they can no longer make these decisions on their own. Some people, before becoming incapacitated, execute a medical and financial power of attorney, which names the person who is to make these decisions on their behalf. However, in the absence of such documents, the court must assign a guardian to handle the incapacitated person's affairs. Today, we will focus on guardianship of the estate, in which a guardian handles an incapacitated person's financial affairs.

Macri Law Group
49 Ridgedale Avenue
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East Hanover, NJ 07936

Phone: 973-577-6010
Phone: 973-577-6010
Fax: 973-887-6237
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