Posted on Mon Dec 12, 2016, on Special Needs Estate Planning
From Our “Ask a Question” mailbag: “I want to set up a Special Needs Trust for my son in my Will. Can I fund a Special Needs Trust with life insurance?”
Posted on Sun Dec 4, 2016, on Special Needs Estate Planning
From Our “Ask a Question” mailbag: “What is a Special Needs Trust?”
A Special Needs Trust is a trust designed to hold assets for a person receiving needs-based government benefits. The person who benefits from the trust is the “beneficiary.” Typically, the beneficiary is an individual with physical or mental disabilities who qualifies for needs-based benefits, such as Medicaid. Giving this person money or making them an heirwould disqualify them. Special Needs Trusts were created to hold assets for these people without excluding them from the benefits. A Special Needs Trust allows you to look out for your loved one by providing them with the little extras that will improve their life.
Posted on Thu Dec 1, 2016, on Medical Power of Attorney Living Will
From Our “Ask a Question” mailbag, a question about Estate Planning before surgery:
“I am going to have some major surgery next month. Is it a good idea to do Estate Planning before surgery? What documents do you suggest I have done?”
Posted on Tue Nov 29, 2016, on LGBT Estate Planning
Our “Ask a Question” mailbag addresses Estate Planning for LGBT Married Couples.
“Right after the legalization of gay marriage my husband and I married in Pennsylvania. Since then, we have not updated any documents. Given the outcome of the Presidential election, we feel like we need to get things done. What is Estate Planning for LGBT Married Couples?”
Posted on Sat Nov 12, 2016, on LGBT Estate Planning
Our “Ask a Question” mailbag addresses LGBT Estate Planning for Married Couples after President Trump’s election.
My wife and I are a same-sex married couple. We married in New Jersey and now live in Pennsylvania. Trump’s election makes us nervous, we are afraid that he may strip away some of our married couple rights. What estate planning documents should we sign to make sure that we have the right to make medical decisions for each other should one of us get sick?”
Posted on Wed Nov 9, 2016, on Intestacy, Dying Without a Will
Our “Ask a Question” mailbag addresses what happens when a sibling dies without a Will in New Jersey.
“My sister died in New Jersey without a will. Our parents are dead, and she never married or had children. Our dad had a daughter out of wedlock when he was very young. It was something that the family didn’t speak of, and we only saw her once in our lives. If a sibling dies without a Will in New Jersey, does a half-sibling receive a share?”
Posted on Sun Nov 6, 2016, on Life Insurance
Our “Ask a Question” mailbag addresses the question, how much life insurance should I have?
“I recently had a baby, and it is time to buy some life insurance. But, I feel like I am being sold rather than advised. How much life insurance should I have? Lastly, is there a general rule about how much life insurance I should have as part of my estate plan?”
Posted on Thu Nov 3, 2016, on Revocable Trusts and Living Trusts
From Our “Ask a Question” mailbag: “After being diagnosed with early-stage Alzheimer’s, I have been thinking about forming a Revocable Trust. Who pays the income tax on a Revocable Trust?”
A Revocable Living Trust can be a reliable tool in helping you manage your assets while suffering from Alzheimer’s. But, you should plan carefully and implement checks and balances.
Posted on Mon Oct 10, 2016, on Probate and Estate Administration
From Our “Ask a Question” mailbag: “I have a contract to purchase my neighbor’s land. Before I could complete the process, he died. Now the family refuses to open the estate and sign the deed over to me. Is there a method for enforcing a land contract against a deceased owner?
Posted on Mon Oct 10, 2016, on Estate Planning
New Jersey Democrats and Republicans arrived at a deal this last week. Though not everyone is happy, making deals is what gets legislation done and an increase is such deals would be appreciated.
