Publications and Articles Archive » Estate Planning

the cost of long-term care insurance will increase and the approval processes will become more difficult as more major insurance companies cease offering these policies. Medicaid will pay for long-term care; however, eligibility for Medicaid is limited to people with limited assets. Therefore, most people will either pay for nursing home care themselves, divest themselves of assets in order to achieve eligibility for Medicaid before the need for nursing home care arises, or purchase long-term care insurance.

Occasionally a client will ask us to review a special needs trust prepared by another law firm. Unfortunately, many of these documents either fail to conform to the legal requirements for a special needs trust or fail to anticipate future changes in benefit delivery systems and therefore limit the trustee’s ability to meet the changing needs of the disabled individual.

Use these tips and suggestions to determine if your Estate Plan or Will need updating.

Hinkle, Fingles & Prior presented with The Family Support Center of New Jersey’s Community Partner Award.

By S. Paul Prior, Esq. A Special Needs Trust (SNT) is a critical part of an estate plan for families of an individual with a disability. If created properly, a SNT will preserve eligibility for various government programs for individuals with disabilities. A SNT will operate for the life of the disabled beneficiary. In some […]

This article provides a thumbnail sketch of standard elder law basics with additional points that apply to parents of a person with a significant disability

A Credit Shelter Trust (CST) is one tool that allows a married person to shelter assets from estate tax. Upon the death of the person, assets are transferred to the beneficiaries named in the trust – free of estate tax.

By S. Paul Prior, Esq. It has been said that there are only two things you can count on: death and taxes. In this case – there is some good news. In the final days of 2010, Congress enacted the Tax Relief Act, bringing changes – and some relief – to taxpayers who plan carefully. […]

Regardless of whether the 2011 federal estate tax deduction is $1 million as scheduled, or $3.5 million as some hope, an irrevocable life insurance trust (“ILIT”) makes sense for many people, especially those who are residents of New Jersey at the time of death.

By: Herbert D. Hinkle, Esq. Although the federal estate tax law expired in 2010, Congress is likely to renew it. However, even if Congress does nothing, the tax will return automatically in 2011 to the same level that existed in 2001 – meaning that a tax that can exceed 50% will be imposed on estates […]

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