If you already have a last will and testament in place, that is a good start. But unless you have very little in assets, a solid estate plan should involve much more. There are plenty of other documents and tools that can help you describe your wishes,...
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...
It can be difficult to see a loved one's mental or physical capabilities decline over time. Unfortunately, sometimes the situation becomes so serious that a guardian must be appointed. A guardian becomes necessary when the person is incapable of taking care of their...
Special needs trusts are a vehicle that protects assets that can be used to pay for certain needs of a disabled beneficiary. Gifts to the beneficiary, funds from a legal settlement and life insurance proceeds can all be part of a special needs trust. There are several...
Many people in New Jersey rely on Medicaid benefits to pay for their care needs as they age. However, what they may not know is that upon their death, Uncle Sam may come knocking, seeking recovery from the deceased's estate of what was paid for using Medicaid...
As people age, things tend to get more difficult. Everyday tasks, such as walking, writing and using the toilet, may seem impossible for the aging. Planning is an integral part of any financial forecast, and elder care planning should start taking front and center,...
Many aged individuals in New Jersey plan on utilizing Medicaid benefits to pay for their long-term care needs. However, it is important to understand how Medicaid has changed over the years. Eligibility hinges on a person's income level, but with Medicaid expansion,...
Some people in New Jersey may plan on relying on savings, home equity or Medicaid resources to pay for a stay in a nursing home in their old age. However, according to recent research, if the cost of senior housing continues to rise at its current trajectory, by 2029...
When a person in New Jersey decides to put a loved one in a nursing home, they will have to execute a contract with the facility. It is important that people understand what to include and what not to include in such contracts. This is for the benefit of their loved...
While some people in New Jersey may have long-term care insurance or a significant amount of savings to pay for nursing home care, many people plan on using Medicaid benefits. A person may qualify for Medicaid benefits if their monthly income does not exceed a certain...
