Boomer Law – Estate Planning in NJ
You’re 55 to 70 and your kids are all over 21 and starting to find their way in the world. It’s been 20 years since you last made an estate plan, and that may have only been a Will. Sounds familiar? I see these situations all the time. There can be loads of issues for baby boomers to think about as you bring your estate plan in sync with your real life circumstances:
(1) NJ...
Elder Care Planning: Building your Team
Tuesday evening I was privileged to participate in a lively panel at the JCC in Scotch Plains that was answering questions on a wide range of elder care/ elder law issues. The panelists were terrific — Michele Morandi, D.O., geriatric physician based in Union and affiliated with Center for Hope Hospice https://centerforhope.com/ ; Chris Kaiser, MSW, LCSW, Director of the Older Adult...
Managing Someone Else’s Money
If you’ve been a designated as someone’s “Power of Attorney,” they’ve given you a big responsibility. The job is different than managing your own money. You are a fiduciary with a duty to the principal (the person who selected you). You have to safeguard the assets of your “principal,” for their wellbeing and benefit. You need to stay aware of all...
Don’t guarantee that nursing home bill unless you plan to pay it
When an individual moves into a nursing home for long-term care, there are an array of admissions documents that get signed. These include everything from personal preferences information to insurance and financial disclosures, medical releases, selection of physicians etc. One of these documents contains the contract for payment for the services being rendered.
Typically, the contract...
Get help with your paperwork when you struggle with illness
I recently had the occasion to make a house call to meet with a client who had stopped working about 4 years ago in his early 50’s. He became gravely, permanently ill and eventually needed to apply for Social Security Disability benefits, which were approved. He had to endure the two-year wait until he could receive Medicare. As he got caught up in the throes of his illness, with...
Thinking of retiring? Review your estate plans
As you begin making your plans for retirement, don’t neglect to prepare or update your estate plan. Your plan may be decades-old, or maybe you never even signed any documents for a plan. It’s a good idea to start thinking about a variety of issues at this time. Here are some of them.
It’s important to sign a Durable Power of Attorney and Health Care proxy to designate the...
Basic estate planning is important for young adults with special needs
Do you have an emerging young adult in your family who is not under a guardianship? After their 18th birthday, you may want to consider having them meet with an attorney to discuss a durable power of attorney, health care proxy and a Will. People often say, “why do I need a Will?” or “isn’t estate planning for wealthy people?” The fact is that basic estate...
Agent under Power of Attorney Can’t Stand in for Party to a Divorce Action in NJ
In a decision published yesterday, a New Jersey judge has ruled that a party to a divorce case cannot avoid the need for their personal participation by having their agent under Power of Attorney appear on their behalf. The case of Marisco v. Marisco, Chancery Div.-Ocean Cy., docket no. FM-15-1152-13-N (Jones, L. R., J.S.C.) involved a divorce action between a husband and wife in their...
Remembering the King of the Valentine’s Ball
Some years ago I was asked to help out “Mario”, who was about 80 and recently widowed after a long and happy marriage. He had Alzheimer’s Disease and was becoming disorganized. He had no kids, and his kin felt they could not step up and take on the job of assisting him. “Mario” was still living on his own in an apartment in Linden which was neat and tidy, and...
Advance Directives for Your Lifestyle: An Idea Whose Time has Come
Most people have heard of “advance directives,” “living wills” or “the 5 wishes.” The law allows us to write down and sign our instructions concerning life support medical treatment that we do or do not want should we ever become “incompetent.” We can also appoint someone as our proxy decision-maker to carry out our wishes. These deal only with...