Is A Life Estate Right for You?
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
10M ago
Jack and Jill are healthy and in their sixties. Jill’s friend’s husband has Alzheimer’s Disease and dementia. Jill spent hundreds of thousands of dollars in long-term care costs at the private pay rate, before qualifying her husband for Medicaid. Jill’s friend had a life estate, and now Jill and Jack are convinced that they need one, too. Giving Away a Remainder Interest is Like Having Major Surgery or Getting a Tatoo. Personally, I have nothing against medically necessary surgeries and high-quality body art. However, just because your friend has one, doesn’t mean that you need a life estate ..read more
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A Will Protects Your Family and Heirs.
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
10M ago
What happens when someone dies without a Will in New Jersey? Unless the individual signs a Will, he or she will have an intestate estate. That is, the individual’s future estate will not be governed by a Will. For the reasons discussed below, an intestacy (or an estate estate) often means confusion and problems. A Will can actually save you money. “When I pass away, I want my heirs to fight with each other and the tax authorities about my estate.” Said no one caring, ever. An intestate estate can be fraught with hidden risks. Here’s why that is, and what you can do to avoid leaving your heirs ..read more
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Yes, Virginia, You DO need a Will!
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
Many assume that if they pass away leaving family behind, their family will take care of their affairs and they don’t need a Last Will and Testament. Generally speaking, failing to plan means planning to fail. While every case is unique, most people DO need a will. Here are some important considerations. A Will establishes who will be responsible for your affairs and/or your funeral. If you don’t have a Will, there may be confusion about who will do this and how your estate will be distributed. A Will can also you to prevent your personal representative from have to post a bond to probate y ..read more
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Gun Ownership & Safety Tips for Seniors
Elder & Disability Law Blog
by cratul
1y ago
Advice For Caregivers The Pew Research Center reports that just over 40% of adults report there is a gun in their household. While the majority of gun owners are white men, the typical demographics of gun owners are changing. For example, when it comes to gun ownership for seniors, owning a firearm is becoming even more common than it was decades ago. Current estimates report that more than 17 million Americans over the age of 65 own a fiream. Read full article The post Gun Ownership & Safety Tips for Seniors appeared first on Elder & Disability Law Blog ..read more
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Estate Planning for Gen Z’s and College Students
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
Photo by RODNAE Productions on Pexels.com Going away to school is exciting. But before taking Junior to college or to his first apartment, don’t forget legal matters. There are key financial and legal documents you need in place. These documents are a general durable power of attorney, health care proxy and living will for Junior. Once Junior attains the age of majority, his doctor, nurse, academic registrar, landlord or bank needs these documents to speak with you. Having the documents in place can bring peace of mind. Busy Gen Z’s need time to learn how to “adult.” They feel overwhelmed by t ..read more
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Selling the Home of A Person With Dementia
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
Sometimes, a home must be sold, but the homeowner is no longer able to sign a listing or sale agreement due to cognitive impairment, confusion, advanced dementia or addiction.  These conditions can prevent an adult from being able to make important financial, medical or legal decisions.  Adults who can no longer make decisions may be incapacitated. These adults cannot legally enter into a binding contract, such as an agreement to list or sell the home. When this happens, one option may be to use a general durable power of attorney or a real estate power of attorney to sell the home ..read more
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Seniors, Mental Health and Firearms: A safety plan.
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
As of July 16, 2022, the suicide prevention and crisis hotline can be reached by dialing 988 in New Jersey (and nationwide.) There is also a chat feature. The 1-800-273-8255 hotline will continue in effect.   You can find additional details online at Department of Human Services | 988 Suicide & Crisis Lifeline (nj.gov). Sadly, suicide affects people of all ages. It is a leading cause of death among white males over the age of 65.  Approximately 15 individuals pass away from this daily. The use of firearms is a leading contributing factor.  See James H. Price, Jagdish Khubcha ..read more
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New Elder Justice Resources
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
Photo by Nicola Barts on Pexes.com Elder financial abuse involves the misuse of an elderly persons’s money, credit or property. Unfortunately, this is a growing and often unreported problem. Fortunately, there are resources available to fight elder abuse. One is the statewide criminal referral hotline, found on the elder justice website of the New Jersey courts. Additional information and resources are available online at https://www.njcourts.gov/public/elder-justice.html. Financial professionals, in particular, should remain alert for behavioral red flags of elder financial abuse. These can i ..read more
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A Path to Financial Freedom
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
What if there was a simple way to finance your future long-term care? How can you age in place at home without spending a fortune? Does that sound too good to be true? It’s not. If you are still insurable, advance planning with long-term care insurance can keep your options open. Most of us will need a skilled nursing level of care, some for months or years. Medicare, Medigap and other health insurance plans do not pay for custodial care. These policies will only pay for limited sub-acute and skilled care for limited periods. Disability insurance is intended to replace your earned income from ..read more
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Smooth Sailing In Your Golden Years
Elder & Disability Law Blog
by Jane Fearn-Zimmer, Esq.
1y ago
Life is smooth sailing, until it’s not. Don’t jeopardize your independence and quality of life, or your loved ones’ freedom, by waiting for a crisis to plan your elder care and your estate. The COVID-19 pandemic showed us the importance of being prepared. Failing to plan for death, taxes, long-term care and disability can create hardship and stress. Medicare only pays for a limited amount of long-term care under limited circumstances. Private pay long-term care can cost you and your spouse more than $13,000 per month at the private pay rate in New Jersey. At that rate, your life savings can ..read more
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