The Right to Control Funeral and Burial Arrangements (Part 1)

       Recently my client, Joe asked me how he could be sure his wishes with respect to his funeral arrangements would be honored.  Joe is not married. He has children but is not close with them.  He has no siblings.  I suggested to him that he could set aside money in a prepaid […]

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Irrevocable Trusts and Medicaid (Part 3)

       I promised in last week’s blog post that I would explain another solution to Mary’s Medicaid dilemma.  Her uncle left assets in a trust for Mary but the terms provide that the funds can be used for Mary’s health support and maintenance.  I explained to Mary and her sister, Betty, who is […]

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Irrevocable Trusts and Medicaid – Part 2

     In last week’s blog post I was talking about a call I received about Mary, who is now in a nursing home.  She has spent her assets towards her care and the only source of payment left is money that was left in an irrevocable trust for Mary’s benefit by her uncle when […]

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Irrevocable Trusts and Medicaid – Part 1

       I’ve written about trusts many times on my blog over the years, specifically about how we get many callers asking us to take a look at an existing trust the caller has set up – or that a family member set up for the caller –  to advise on whether the assets […]

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The Continuing Rise in Long Term Care Premiums

       A few years ago I wrote about the number of clients calling our office who are getting notices of substantial rate increases on their long term care insurance policies.  Since then it has been a problem that has only increased in frequency.  An article this week in the Wall Street Journal caught […]

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The Problem with Out of State Documents – Part 2

       In last week’s post I was telling you about a situation with a client who has a North Carolina power of attorney that his wife needed to use here in New Jersey where they currently live.  The document is a springing power of attorney, meaning it does not have effect until the […]

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The Problem with Out of State Documents – Part 1

       I am often asked whether moving from one state to another requires someone to redo their legal documents. While I obviously don’t have knowledge of the laws in every state, my general answer is that I am not aware of any state that invalidates a will, power of attorney or health care […]

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What the New Tax Law Means for Seniors – Part 2

In last week’s blog I told you about some of the changes in the new tax bill.  This week I’ll cover some more as well as some changes that were discussed but didn’t happen.        The mortgage interest deduction has been reduced.  Now taxpayers can deduct the interest on mortgage debt up to […]

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What the New Tax Bill Means for Seniors

       Ok, now that the new tax bill has been passed by Congress and signed into law by President Trump how will it affect us?  Will it mean paying more or less in income tax?  The answer depends on many variables but one thing is for sure.  These changes don’t apply until 2018, […]

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The Problem with Springing Powers of Attorney

                We rarely use springing powers of attorney in our office.  A recent case with a client who has one reminds me why.                 George’s son, Jim came to us because his dad is in a nursing home.  He will need to stay there on a long term basis.  George has some money in several […]

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