Macri & Associates, LLCNJ Elder Law/Estate Planning Attorneys | Serving Morris County, Essex New Jersey2026-08-01T21:15:48Zhttps://www.mchughandmacri.com/feed/atom/WordPressOn Behalf of Macri & Associates, LLC<![CDATA[Why would you put real estate in a trust?]]>https://www.mchughandmacri.com/?p=497772026-08-01T21:15:48Z2026-08-01T21:15:48Zreal estate into a trust. For instance, a parent who is going to pass their house down to the next generation may instead move that house into a trust before they pass away. What are some of the advantages to doing so?
It gives you more control
For one thing, the trust can own the home instead of the beneficiaries. This can be useful if they are still very young. You may want your children to receive ownership of the house once they are adults, for instance, but the trust can hold it for them if they are still minors.
It can reduce the tax burden on the estate
Estate taxes are often based on the total value of a person's estate, including real estate that they own. Putting the house into an irrevocable trust means that you no longer own it. It is owned by the trust, lowering the value of your estate for tax purposes.
It can simplify the process
In some cases, trusts are used to help avoid probate. This can be a complex, expensive and lengthy process. By proactively putting the house into a trust, it can keep the details private and facilitate a faster transfer of ownership.
This shows just a few of the benefits of using a trust when it comes to handling real estate. If you would like to do so, be sure that you know exactly what legal steps you will need to take in advance to get everything set up correctly.]]>On Behalf of Macri & Associates, LLC<![CDATA[Using powers of attorney to shield an elder’s assets]]>https://www.mchughandmacri.com/?p=497752026-07-24T02:11:46Z2026-07-24T02:11:46Zfinancial POA offers, it is important to learn about the role they fill in a broader asset preservation strategy.
Considerations that strengthen protection
A financial POA can include detailed instructions to guide the chosen agent’s actions. This helps minimize confusion and limit opportunities for misuse. Examples include:
Defining financial authority clearly to ensure the agent (the person who has been given POA) understands the scope of permitted actions
Specifying access to financial accounts so institutions know exactly what the agent may manage
Including recordkeeping duties to support transparency and reduce disputes
It’s crucial to have a POA document that protects the principal while permitting necessary flexibility for sound financial management.
Oversight mechanisms that reduce risk
Proper oversight helps ensure the agent acts responsibly. It allows for periodic reviews, record requests or independent evaluation of transactions. These measures help identify concerns early and facilitate consistent accountability.
Clear oversight language also helps reduce disputes among relatives and strengthens long-term asset protection by adding structure to the agent’s financial responsibilities.
State specific requirements and practical steps
New Jersey recognizes both durable and springing financial powers of attorney A durable document remains effective if the principal loses capacity. A springing document becomes effective only after a defined event, such as a physician’s certification of incapacity.
In New Jersey, a financial POA requires proper execution, including signatures and notarization, before institutions can accept the document. Knowledgeable guidance and periodic reviews help ensure that the POA continues to reflect the principal's current needs and is compliant with state law.]]>On Behalf of Macri & Associates, LLC<![CDATA[Elder law vs. estate planning: What’s the difference?]]>https://www.mchughandmacri.com/?p=497732026-07-21T04:23:33Z2026-07-21T04:23:33ZWhat is estate planning?
Estate planning focuses on managing and distributing your assets during your lifetime and after your death. A comprehensive estate plan helps ensure that your wishes are honored while minimizing potential legal complications for your family.
An estate plan often includes:
A will that outlines how you want your assets distributed.
Trusts to manage or protect certain assets.
Powers of attorney for financial decisions.
Advance health care directives or living wills.
Beneficiary designations and other asset transfer strategies.
Although many people associate estate planning with wealth, adults of all ages and income levels can benefit from having these documents in place.
The primary goal is to help older adults preserve their independence, protect their assets, and prepare for future health care and financial needs.
Which option do you need?
The answer depends on your circumstances. If your primary goal is to decide how your assets will pass to your loved ones, estate planning may address many of your needs. However, if you are planning for long-term care, preparing for potential incapacity, or helping an aging parent, elder law may provide more comprehensive guidance.
In many cases, the two areas work together. An attorney may recommend an estate plan as part of a broader elder law strategy that addresses both your current needs and your long-term goals.
Plan for every stage of life
Planning for the future involves more than deciding who inherits your property. It also means preparing for the legal, financial, and health care decisions that may arise as you age.
An experienced elder law and estate planning attorney can evaluate your situation, explain your options, and create a personalized plan that protects you and your loved ones. Whether you are planning for yourself or helping a family member, taking action today can provide greater peace of mind for the years ahead.
]]>On Behalf of Macri & Associates, LLC<![CDATA[Learn about the importance of special needs trusts]]>https://www.mchughandmacri.com/?p=497712026-07-09T02:02:46Z2026-07-09T02:02:46ZMany people cannot live independently, such as older parents, grandparents and even younger family members with special medical needs. They often require individualized care and treatment, such as physical therapy, medical equipment and assisted transport – and not all of those things are covered by insurance. A special needs trust can be created to help loved ones with special needs while helping ensure they receive government benefits.
Before setting up a special needs trust, it is important to understand how it works and the two types of trusts. Here is what you should know:
How does a special needs trust work?
A special needs trust can be set up to secure an individual’s assets if the size of their estate would disqualify them from government-supplemented medical benefits, such as Medicaid or housing. A trustee is named to be in charge of administering the trust’s assets. Because the trust’s assets are owned in the name of the trust and controlled by a trustee, the government does not consider these to be the beneficiary’s assets when making determinations for needs-based programs like Supplemental Security Income (SSI) and Medicaid.It then falls on the trustee to use those assets in the trust to provide for the beneficiary. While the beneficiary cannot receive funds directly without affecting their benefits, the money can be used to cover things like medical equipment, furniture, transportation, outings, home care services not provided by insurance, entertainment and hobbies.Because there are a lot of complex rules associated with special needs trusts, it is wise to learn as much as possible about how they are created and how they can be used before deciding if one suits your needs. Professional legal guidance can help establish a special needs trust for a loved one and make sure it is properly funded.]]>On Behalf of Macri & Associates, LLC<![CDATA[3 compelling benefits of funding a special needs trust]]>https://www.mchughandmacri.com/?p=497682026-06-22T23:32:03Z2026-06-22T23:32:03Z1. The ability to retain state benefits
If the person with special needs eventually receives a large inheritance, that windfall could affect them ineligible for benefits that they rely on for housing, income and medical coverage. Trusts with proper limitations on distributions allow beneficiaries to retain key benefits.
2. Asset protection
Children and other family members with special needs often end up in vulnerable positions if creditors and other interested parties file lawsuits against their caregivers or take legal action during estate administration. The loss of resources due to creditor claims can leave people with medical challenges in an especially vulnerable situation. Trusts can help protect resources from creditor claims and probate complications.
3. The support of a trustee
When a parent or other caregiver dies or becomes incapacitated, a person with special needs might struggle to manage their own affairs. The trustee named to manage the resources in a special needs trust can provide both practical and social support for a beneficiary struggling with abrupt changes.
Creating a special needs trust can provide parents and caregivers with a sense of security and can offer lasting benefits. A lawyer can help to ensure that a special needs trust has adequate funding and structure that reflects the needs of the beneficiary and their caregivers.
]]>On Behalf of Macri & Associates, LLC<![CDATA[How can adult children prepare for making elder care decisions?]]>https://www.mchughandmacri.com/?p=497672026-06-15T17:05:49Z2026-06-15T17:05:49Zlearn about your parent’s wishes while they can still communicate them to you.
Start with a calm conversation
One of the first things you should do is to have a calm conversation with your parents. Discuss their finances, healthcare plans and living arrangement wishes. While these might be sensitive topics, they’re likely going to be easier to discuss when there’s not an emergency looming. You may need to take notes so you can ensure you remember what was discussed and what your parent wants.
Get the plan in writing
There are certain documents that you should ensure are in place while your parent still has the mental capacity to get them done. These include things like a will, power of attorney designations and advance directives. All of these documents will allow your parent to outline their wishes and who they want to assume responsibility in re: ensuring that they’re upheld.
Determine ideal living conditions
It can be difficult to think about your parent having to go into a long-term care facility, but it’s best to discuss that possibility before the decision has to be made. Discussing where your parent wants to live if they can’t remain at home may be beneficial as a result.
These conversations aren’t easy, but they can help you to plan for the future while giving your parents a meaningful say in what happens next.]]>On Behalf of Macri & Associates, LLC<![CDATA[Who may serve as a New Jersey conservator or guardian?]]>https://www.mchughandmacri.com/?p=497662026-05-27T01:14:35Z2026-05-27T01:14:35ZMany people can pursue legal authority
Current state rules require that the courts give priority to the person selected by a struggling adult in cases involving conservatorship. However, the courts may determine that the proposed conservator cannot fulfill that duty effectively. They also cannot defer to the wishes of an incapacitated person in a guardianship scenario. The courts can also appoint a spouse, adult children, the next of kin of the struggling individual or any other suitable party as conservator or guardian.
In some cases, the courts may choose a professional who has held a caregiving role or someone working for a care facility where the individual currently resides. Especially in scenarios where there have been issues with finances, families may want to act promptly to seek legal authority to prevent those representing medical businesses from pursuing guardianship before they do.
Discussing an individual's challenges with a skilled legal team, and learning more about current court rules, can be helpful for those who believe that guardianship or conservatorship might be necessary. An attorney often plays a key role in helping people secure the authority necessary to support someone struggling to manage their resources or consistently act in their own best interests.]]>On Behalf of Macri & Associates, LLC<![CDATA[Who files tax returns during estate administration?]]>https://www.mchughandmacri.com/?p=497652026-05-19T10:29:00Z2026-05-19T10:29:00ZThe personal representative usually files the necessary returns
In some cases, the deceased person may have a surviving spouse, and they may have previously filed joint income tax returns. Despite their circumstances, their surviving spouse usually does not file their final income tax return.
Instead, the personal representative files the last return. Doing so informs the IRS of the individual’s passing and helps ensure the reconciliation of any outstanding income tax obligations while there are still estate resources available to cover their income taxes.
If the probate process requires the sale of estate property, the estate may owe income taxes based on the amount of revenue generated through estate sales. Once sale revenue reaches $600, the estate typically needs to report those funds as income and pay appropriate income taxes.
Tax returns and other financial responsibilities are a major component of estate administration. Having guidance during estate administration can help surviving family members and personal representatives navigate what is both an emotional and complex legal process.]]>On Behalf of Macri & Associates, LLC<![CDATA[When should you consider a special needs trust?]]>https://www.mchughandmacri.com/?p=497642026-05-18T09:43:38Z2026-05-18T09:43:38ZProtecting government benefits while providing support
If your family member receives Supplemental Security Income (SSI) or Medicaid, you have probably discovered how strict the eligibility requirements can be. These programs often have asset and income limits that could disqualify recipients if they receive a traditional inheritance or gift.
A special needs trust could help you navigate this challenge. By placing assets into this type of trust, you might be able to supplement your loved one's quality of life without affecting their eligibility for crucial government assistance. The trust can pay for items and services that government benefits may not cover, such as education, recreation, therapy or personal care attendants.
The right time to establish a trust
You might want to consider setting up a special needs trust in several situations. If you are creating an estate plan and have a child or relative with disabilities, now could be the time to explore this option. It might be beneficial not to wait until it is too late to protect their future.
Parents and grandparents often establish these trusts as part of their wills or living trusts. This ensures that when they pass away, their loved one with special needs will have financial resources without losing government benefits.
You might also want to consider a special needs trust if your family member is about to receive a settlement from a lawsuit or insurance claim. Receiving a considerable sum of money directly could immediately disqualify them from benefits they depend on.
Moving forward with confidence
Every family's situation is unique, and what works for one person might not be the best solution for another. Understanding your options is crucial when making decisions that will impact your loved one's long-term financial security and well-being.
Taking the time to explore your options now can provide peace of mind and financial security for your loved one's future. The earlier you start planning, the more options you might typically have available.
]]>On Behalf of Macri & Associates, LLC<![CDATA[What Medicaid spend-down means for New Jersey families]]>https://www.mchughandmacri.com/?p=497632026-04-30T15:43:25Z2026-04-30T15:43:25ZWhen an older parent needs long-term care, many families discover that Medicaid has financial eligibility rules. A parent may need help at home, in assisted living or in a nursing facility, but still have too much income or too many countable assets to qualify right away.
That is where spend-down planning can come in. In New Jersey, Medicaid spend-down generally means reducing countable resources or applying income toward care in a way that follows program rules. The goal is not to hide money. It is to understand what the rules require before a family makes costly mistakes.
Spend-down is not random spending
A spend-down does not mean giving money away or rushing to empty accounts. In fact, gifts or transfers made without proper planning can create eligibility problems, especially when long-term care coverage is involved.Families often need to sort assets into categories. Some properties may count toward eligibility, while other properties may receive different treatment under Medicaid rules. The home, bank accounts, retirement funds, life insurance and prepaid funeral arrangements may all need review.For older adults and caregivers, Medicaid planning can help connect those financial details to long-term care needs.
Long-term care has its own rules
New Jersey’s long-term care program can cover services at home, in assisted living, in community residential settings or in a nursing home. Financial eligibility is only part of the process. A person may also need to meet clinical requirements based on their care needs.This matters because families sometimes focus only on account balances. Care level, timing, documents and prior transfers can also affect whether an application moves forward smoothly.
Records matter during the process
A Medicaid application can require detailed financial information. Families should expect to gather records before and during the spend-down process. Helpful documents may include:
Bank statements
Deeds and property records
Life insurance policies
Retirement account statements
Funeral or burial contracts
Records of gifts or transfers
Medical and care facility bills
Keeping these documents organized can help explain where money went and whether expenses were proper.
Start before care becomes urgent
Spend-down questions often arise during a health crisis, but crisis planning leaves less room for careful decisions. If a parent may need long-term care soon, start by listing assets, income, debts and recent transfers. That first step gives the family a clearer picture of what may count, what may need review and which decisions should not wait until a facility is asking for payment.]]>