I had a meeting recently with a client whose spouse had set up an irrevocable life insurance trust (ILIT).  The client is the beneficiary of the Trust. The Trust owned a substantial life insurance policy on the spouse. The spouse died 15 years ago, and the insurance policy was promptly paid to the Trust. The client is the Trustee, and established a brokerage account with the funds. The client receives the annual income, but wants to get more assets from the Trust. What’s the problem? The client can’t find any copy of the Trust document! We don’t know the terms of the Trust. We don’t know ..read more

In 2020 according to one set of data, there were about 550,000 2- and 3-family rental properties in New Jersey. Many seniors own such buildings and live in one of the units. At a certain point in later life, they may be depending on their children (or others) as Power of Attorney or court-appointed Guardian to manage their finances and property.  An important deadline is fast approaching that will affect many people who own rental properties. New Jersey’s Lead Paint abatement laws were updated in 2022. No later than July 22, 2024, Municipalities must inspect rental properties  for le ..read more

Home health care is a huge industry in the USA with over 3 million workers in 2022. The US Bureau of Labor Statistics estimates that jobs will grow by 22% over the next 8 years. New Jersey has thousands of in-home caregiver employees. Many seniors are trying to “age-in-place” and they hire caregivers to help them with their functional tasks of daily living. On January 12, 2024, New Jersey’s Governor Murphy signed into law S-723/A-822, dubbed the Domestic Worker Bill of Rights Act.  The law will take effect in July, 2024. Here are some highlights. A “hiring entity” is an “employer” and inc ..read more

At Fink Rosner Ershow-Levenberg Marinaro, LLC, we understand the complexities and emotional challenges involved in planning long-term nursing care. As elder care law lawyers, we’re here to guide you through the Medicaid planning and application process, ensuring you always receive the support you need. Understanding Medicaid Long-Term Services & Supports (MLTSS) Medicaid is an essential program that provides funding for nursing home care, assisted living, and other long-term care services. It’s designed as a safety net for those whose resources fall below a specific threshold — typically ..read more

The Medicaid program which pays for nursing home costs and for care in the community is called MLTSS – Medicaid Long Term Services and Supports. An applicant has to meet the specific financial requirements for income and assets (resources). These financial limits get updated every year. Some numbers go up in January, and others in July.  This post reviews the numbers that are changing January 1, 2024, and why that matters to you.. “The Income Cap.”  The income cap is 3 times the federal SSI benefit rate. SSI is going up to $943/month on January 1. The income “cap” will be $2,829. Why ..read more

A court-appointed Guardian has the authority and responsibility to protect the legal rights of the incapacitated person. This post discusses some of those rights. Medicaid planning and guardianship Medicaid is a government-funded healthcare program that provides essential coverage to low-asset individuals, including nursing home residents. Medicaid planning involves strategies to legally protect assets and ensure that individuals can qualify for Medicaid benefits while preserving their financial security. Guardianship plays a significant role in Medicaid planning, especially for nursing home r ..read more

On this Veterans Day we want to express our appreciation for the selfless military service to our country that’s been provided by our  clients, their family members, their friends and acquaintances, as well as those veterans we don’t know personally. Every era in American history has had its unique and awful challenges. Our veterans took on burdens and responsibilities for the benefit of us all. We have many aged clients who served in the Korean Conflict, the Vietnam War and in World War II. Very often their spouses are struggling to care for them at home, with inadequate support services ..read more

Securing the future for children with special needs requires careful legal planning and foresight. As disability law attorneys based in New Jersey, we are wholly dedicated to representing clients who are caring for people with special needs. With this responsibility in mind, we believe it’s important to share these 10 legal tips for securing the future of children with special needs.   1. Understand the legal landscape Every child with special needs presents their own unique challenges, and the laws surrounding their care can be complex. Legal issues include your own estate plan, decision ..read more

The hot news recently, is that after a lengthy, expensive legal battle, a Michigan jury concluded that superstar music icon Aretha Franklin’s 2014 handwritten four pages of instructions were a valid “Will” and that it superseded her 2010 handwritten Will. Despite all her wealth and having four children, the “Queen of Soul” evidently didn’t bother to engage an attorney to prepare a formal Last Will and Testament for her. Instead, she opted to write it all out herself.     Can a handwritten document (called a “holographic will”) be valid in New Jersey?   Yes, as lon ..read more

Although it can be a sad thing to think about, it’s important to think about protecting your assets for when you pass away, or in the event you become incapacitated. Enlisting an attorney to help you plan for later life and prepare the necessary legal documents ensures that your family is protected when the time does come. We’ve put together some of the five essential steps you should take to put that protection in place. 1. Making your will Starting with the basics, preparing a will is essential to legally express what you want to happen with your assets when you pass away. This doesn’t only ..read more