East Hanover New Jersey Elder Law Blog
How New Jersey’s Medicaid recovery system affects your estate
If you reach a point in your life where you need Medicaid benefits in order to obtain care for yourself, your financial circumstances will affect your ability to qualify. For most adults, it is necessary to diminish their personal assets almost completely before the...
The cost of aging with a disability
If you have an elderly loved one with a disability, it may be something that they have dealt with all their life, such as the result of an injury as a young adult. It may also be the direct result of aging, such as the ramifications of a stroke. Either way, you know...
Picking a guardian for your adult child with special needs? Here’s what to consider
Nobody lives forever, which is why the parents of special-needs children need to plan ahead. When you have an adult child with special needs, there will come a time when you’re no longer around to protect them and make sure that their needs are met -- and that means...
Transfer on Death (TOD) registration can help avoid probate in New Jersey
When you’re thinking ahead about how to transfer your assets to your heirs after you are gone, you may have already considered using “payable-on-death” designations on your bank accounts. Once you die, those funds will automatically become the property of whomever you...
What is the cost of an in-home caregiver?
When the elderly need extra assistance, they have numerous options. For instance, a child may simply start helping them and caring for them at first, leaving them largely independent. If their needs get to the point that the child cannot do enough, though, they may...
Will your loved ones be able to inherit your home?
One of the reasons that people try to preserve their wealth during their life is so that they have the opportunity to leave behind a legacy for the people they love. An estate plan helps people set aside assets for specific people or even charitable causes. Major...
Waiting to plan for Medicaid is a risky kind of procrastination
Medicare is the health plan that exists specifically to address the medical needs of those at or past the age of retirement. It is common for older adults to stop paying for private insurance and instead start supplementing a Medicare policy once they decide to retire...
How important is a health care proxy, and what does it do?
As you start planning for your end-of-life care or for emergencies that may arise, something you’ll want to add to your estate plan is a health care proxy. A health care proxy is a document that gives you the ability to appoint another person to make decisions about...
A special needs trust helps protect those you love after you pass
Your sister has always been special to you. When you were 16, your mother got pregnant. A little less than a year later, you were holding your little sister for the first time. You thought she was amazing, even though she had cerebral palsy. Today, she still struggles...
How to prevent death taxes from destroying an estate
More people than ever are entering retirement age. These citizens have worked their entire lives to earn this rest, funding their twilight years with purposeful estate planning and a lucrative retirement fund. These matriarchs and patriarchs often have large families...
