How to Leave Personal Property (Part 4)
How to Leave Personal Property (Part 4) In my blog post last week discussing personal property, I explained that leaving a written list in your will can problematic for several reasons. This week I will tell you about one specific reason. The State of New Jersey may come calling. That’s because it periodically checks
2026 Estate and Gift Tax Changes
In this week’s blog post, I discuss changes to estate and gift taxes for 2026. As with Social Security and the Medicaid and VA programs which I have already detailed here in past weeks, inflation adjustments have changed some numbers applicable to estate and gift taxes. Estate tax is due on certain
What is the Meaning of Per Stirpes? Part 1
Whenever I review drafts of a will we have prepared for a client there are certain terms and clauses that I can almost always guarantee will trigger questions. One of those is the term “per stirpes”. Per stirpes is actually a Latin term meaning “by branch”. It is used to describe how assets
Yet Another Real Estate Problem – Part 3
In this third post of three, I finish telling you about an executor’s sale of real estate that hit a snag. As I explained last week, the Buyer’s title company concluded that the decedent didn’t own 100% of the property. Instead they said he owned only 50%. The confusion arose from that the
How Not to Lose Medicaid (Part 4)
In last week’s post, I explained that when a Medicaid recipient’s spouse dies the estate administration process can take time to complete. This process impacts the Medicaid spouse because - like it or not - that spouse must receive a minimum amount of assets under New Jersey’s elective share. Obviously, this could
How Not to Lose Medicaid (Part 3)
In last week’s post, I was explaining that the death of the non Medicaid spouse impacts the continued eligibility of the Medicaid spouse. That’s because the Medicaid spouse’s income and/or assets may change. The asset change is the more complicated one, in part because the estate administration process takes time. An application must
Voice Cloning Scam – Part 2
In my post last week I told you about a financial scam involving artificial intelligence (AI). This type of imposter scam is expected to result in losses approaching $2.6 billion. As I explained, voice cloning has become very easy to do with technological advances. A distressed call from a family member can sound
Voice Cloning Scam – Part 1
I most recently wrote about financial scams in this blog back in October but a recent story on the tv news caught my eye. I wanted to share it here as another example of the “dark side” of technology to which seniors especially can be susceptible. It involves voice cloning. Advances
Protecting Your Money If Your Bank Fails – Part 2
In my blog post last week I began discussing the subject of FDIC insurance, a topic on many people’s minds in light of the recent bank failures. I discussed the types of accounts that are covered by the insurance. I also explained that there is a limit of $250,000 of insurance per
Financial Elder Abuse Legislation – Part 2
In my post last week, I wrote about a type of financial fraud targeting the elderly that caught the attention of two New Jersey legislators. In two cases that were reported upon by the media, a man working with a nursing home convinced 2 seniors to sign powers of attorney appointing