Category Archives: Estate Planning
Warning Signs of a Heart Attack and Stroke
It’s important to catch potential heart attacks and strokes as soon as possible. Below are some indicators that together or separately warn of these medical emergencies. Heart Attack Chest Discomfort: Pressure, squeezing, fullness, or pain in the center of your chest that lasts for several minutes and occurs intermittently Upper Body Discomfort: Could occur anywhere […]
Holocaust Reparations Can Be Protected from Medicaid
As part of our Elder Law practice, we know things that others don’t. Here’s some important information: Holocaust Reparations and Medicaid You may already know that your assets and income are a big factor in the Medicaid you receive. Almost any money you have can be taken by Medicaid. However, Holocaust reparations are often exempt […]
Important Reminder: POAs for College-Age Kids
My clients all know how much I stress the importance of everyone having a Power of Attorney (POA), even children once they turn 18. This is especially important now that it is time for incoming freshmen to start their first semester of college. What many parents do not realize is that once a child turns […]
“ICE” (In Case of Emergency) Advice
Old School: My clients know that I recommend keeping a card with you at all times that contains all your important personal and medical information in case of emergency. EMTs and paramedics are trained to look for emergency cards in the following places: 1 – Automobile – Glove Compartment 2 – Pedestrians – Wallet or Purse […]
Did You Know? 401(k) Loans
Generally, loans taken from 401(k) plans must be repaid within five (5) years in “substantially level payments,” including principal and interest, at least quarterly. Loan repayments may be suspended for a one (1) year leave of absence, but the loan must still be repaid within the original five (5) year period. If the loan was […]
Premarital Wills
NJSA 3B:5-15 provides that if a person had a Will, and later married but did not update the Will, then the surviving spouse a share of the Estate equal to the “intestate share” as though the Testator died intestate. The Legislature assumes that the person forgot to update his or her Will and would want […]
Asset Preservation Tips
Below are some tips to help you preserve and accumulate your assets. Many of these are common sense, but can be easily overlooked. 1. Stay healthy: Live a healthy lifestyle. 2. A “Stitch in Time”: Take care of any problems—medical, financial, personal—as soon as they arise. 3. Review and Pay Insurances: Know what you have […]
Ten Tips When Caring for a Parent or Other Loved One
It is always difficult when your parent, spouse, aunt, uncle, sibling, or other loved one becomes ill or aged. Below are ten helpful tips to help you prepare for, and even avoid, a bad situation. (1) UPDATED AND VALID ESTATE PLANNING DOCUMENTS It is imperative that you review and confirm that your loved one has […]
I have heard that I can “disclaim” inherited assets or property. What does this mean?
A “disclaimer” is the refusal to accept a gift, bequest, or beneficiary designation on an account (e.g., an IRA or life insurance policy). The person making the disclaimer must disclaim this property within nine months and not have accepted any interest in the property. As an example, say Sue is the named beneficiary on her uncle’s […]
In Terrorem Clause/No Contest Clause
You may have heard of an “In Terrorem Clause,” also called “No-Contest Clause.” Joan Rivers had one in her Will.* This is a provision that can be included in a Will which states that if any beneficiary or legal heir of the Estate tries to contest the Will, they will be treated as though they predeceased he […]
