East Hanover New Jersey Elder Law Blog
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...
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...
Will your loved ones get stuck paying estate tax on your legacy?
Estate taxes, also known as death taxes, are some of the most loathed of all financial burdens placed on American citizens. These taxes affect the beneficiaries of an estate or the estate itself and typically must get paid as part of the administration of the estate....
Take the plunge: Get your final affairs in order
You’ve put it off for as long as possible, but it’s time to get your estate planning done. You love your family, so don’t leave them with a mess to sort out after you’re gone. Now that it’s tax time, consider putting some of your return toward your will and other...
Mistakes to avoid when naming a guardian for your loved one
You have a dependent relative who is precious to you, and you naturally want to secure their future -- even if you aren’t here to see it. But picking a guardian in case you aren’t around to take care of your parent, mentally-impaired relative or special needs child...
Why funding a trust with your home can protect it as you age
Having your name on the title to your home can be a source of intense pride. Many people can think back to the day that they signed the deed that made them the official owner of their property. The thought of taking your name off of one of your most important assets...
Early plans for long-term care can protect your family and legacy
Far too many people put off important long-term care planning tasks until the last minute. It is unquestionably unpleasant to have to consider not only the potential for your future death but also the health decline that often comes with advanced age. It is a common...
