East Hanover New Jersey Elder Law Blog
Estate planning when your elderly father has dementia
It’s not easy if your dad has dementia. Seeing the person you looked up to lose their mental capacities can be hard to take. Estate planning becomes more urgent than ever if your father starts to suffer from dementia. If he does not already have an estate plan in...
How a trust can help you protect your family home later in life
For many families, their home is the most valuable asset. That means you have an interest in protecting your house regardless of what else happens in your life and likely have a desire to pass it on to someone specific when you die. Whether you want to ensure that...
Know these requirements for Medicaid coverage
As you age, there’s a chance that you’ll need to seek around-the-clock care in a nursing home. Many people discover that this is a challenging aspect to aging because they never took the time to plan for their long-term care needs. There are several things that you...
Can Medicaid take your house after you die for reimbursement?
Given that Medicaid and Medicare offer similar but not overlapping health care insurance benefits and that they have similar names, many people wind up confused about the differences between these two valuable programs. They are, however, completely different programs...
How much do you need to put aside for a special needs child?
Having a child with special needs means that you will have unique concerns when it comes to planning for their future. Most parents can simply make a last will naming a guardian for their minor children and allocating their valuable assets to their kids after they...
Should you leave your home to your children?
Many people do not own any assets that are more valuable than their homes. This is true in a financial sense and a sentimental sense. The family home is where you made memories over the years, and that matters to both you and your children. As you do your estate...
How can money in a special needs trust be used?
Special needs trusts are designed to give people with disabilities the money they need to improve their overall quality of life without putting any public benefits they receive, like Supplemental Security Income (SSI) or Medicaid, in danger. What does that mean?...
Choosing the right trustee for your special needs trust and child
The creation of a special needs trust can do a lot for the security of a child that depends on you and your peace of mind regarding their future. By creating and funding a trust, you ensure that someone you love with special needs will have access to the resources...
Long-term care planning: 3 tips to get the right care
Most people consider planning for retirement because it’s something they hope to be able to do in the future. With retirement planning in place, one thing you should remember is to add long-term care to that plan as well. Even in retirement, there may be a need for...
New law means estate plans must be reviewed
At the start of 2020, the Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect. While there are a lot of different aspects to the SECURE Act, one thing is for certain: Everyone who has an IRA (or similar retirement plan) should probably...
