Augulis Law Firm, LLC– New Jersey Medicaid Guide You may be one of the many people who makes it through their entire working years without ever having a need to qualify for Medicaid benefits, only to find that you need to qualify as a senior. The high cost of long-term care (LTC), coupled with the fact that neither your basic health insurance plan nor Medicare will cover LTC expenses, means that over half of all seniors needing nursing home care must rely on Medicaid to help with the cost of … [Read more...]
New Jersey Medicaid Guide
Augulis Law Firm, LLC – New Jersey Medicaid Guide You may be one of the many people who makes it through their entire working years without ever having a need to qualify for Medicaid benefits, only to find that you need to qualify as a senior. The high cost of long-term care (LTC), coupled with the fact that neither your basic health insurance plan nor Medicare will cover LTC expenses, means that over half of all seniors needing nursing home care must rely on Medicaid to help with the cost of … [Read more...]
Loaning Family Money – What You Need To Know
Loaning Family Money – What You Need To Know Written By: The American Academy of Estate Planning Attorneys People lend money to family members for a variety of reasons. For example, lending your son money to buy his first home, or lending your daughter money to start a new business. At some point, you may find yourself in a similar situation. Therefore, it is important to know how this will impact you from a tax standpoint. Are you charging the borrower interest on the loan? If so, you must pay … [Read more...]
Estate Planning is Essential for Same-Sex Couples
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You might not realize it, but you already have an estate plan. Even if you’ve never created a Will, never set foot inside an estate planning attorney’s office, and never given estate planning a second thought. Here’s why: each state provides every citizen with a default estate plan. This estate plan comes in the form of intestacy law – a set of basic, one-size-fits-all rules for what happens to property … [Read more...]
What to Expect at Your First Estate Planning Consultation
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys www.aaepa.com Your first meeting with an estate planning attorney may seem a little daunting, especially if you’ve never consulted an attorney before. There’s no need to worry, however. This meeting is just a conversation in which your attorney will find out about you, your family, and your goals. After you’ve shared this information, your attorney will be able to recommend a range of estate planning … [Read more...]
Five Things Every Woman Should Know About Estate Planning
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It was assumed that a widow would not have … [Read more...]
Five Non-Tax Reasons You Need an Estate Plan
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys One of the biggest myths about estate planning is that it is something only wealthy people need because the only reason for having an estate plan is to minimize estate taxes. The truth is, estate taxes are only a tiny piece of the estate planning puzzle – and every adult needs an estate plan. Here are just a few non-tax reasons to plan: Put the Appropriate People in Charge. An estate plan allows you to … [Read more...]
Why Everyone Needs an Estate Plan
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Estate Planning. To many people, it sounds complicated and foreign, something only the wealthy or the elderly need to worry about. It is often not at the top of the priority list for single people or for young couples. Even parents with young children, who know they should at least have a Will, tend to think of estate planning as somehow beyond their reach. In truth, regardless of your age, your situation in … [Read more...]
How Low Interest Rates Can Influence Your Estate Plan
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys We all know that low interest rates can create excellent opportunities to buy or refinance real estate. But did you know that a low interest rate environment can have an impact on your estate planning options as well? The four corners of a solid, basic estate plan remain the same no matter the economic climate. Interest rates do not determine the effectiveness of a Living Trust, Pourover Will, General Durable … [Read more...]
Planning for the Worst-Case Scenario
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Estate planning is one of those things that’s easy to put off. We don’t like to think about death – particularly our own – so we put it out of our minds. “What’s the worst that can happen?” we ask ourselves. We’d like to think that the answer to that question is that, even if we didn’t create an estate plan, we’d be off the hook. We’d be gone, so we wouldn’t have to deal with the consequences. This answer is … [Read more...]
