Elder Law, Family Law, and Estate Planning in Hackensack, New Jersey

As we age, one of the most notable changes to our bodies is to brain function. Memory loss is a common symptom of aging. At first, the memory loss is isolated and occurs so infrequently that it can be quickly dismissed as being caused by exhaustion or trying to juggle too many things at once. When age-related cognitive loss begins, the memory loss is gradual. After a while, you begin to notice that you are losing your memory. Next up, your loved ones, immediate family members, and friends notice you are losing your memory. There are gaps that you are unable to fill unless reminded of or prompted by someone else. Some memories return; others are lost forever. Alzheimer’s disease, in its most severe form, results in memory loss so drastic that you may not know your spouse or children and you may demonstrate fear when they talk to you because you experience them as stranger and not loving members of your family. Age-related memory loss may be a particular concern to those who have a...

Many families mistakenly believe that Medicare will cover the cost of nursing home care and expenses when their loved one is ill and in need of long-term health care. In this post we will examine the circumstances in which Medicare will pay for the cost of nursing home care and expenses and how much financial assistance they provide families seeking nursing home care for a loved one. What Nursing Home Care Does Medicare Cover? Generally, there are two types of nursing home care – custodial care and skilled nursing care. Custodial care involves helping individuals with daily living activities such as eating, bathing, dressing, and toileting. Skilled nursing care involves helping individuals who need medical care that can only be provided by a registered nurse or licensed practical or occupational practitioner, like a speech pathologist. Examples of medical care that can only be provided by a registered or specialized nurse are wound care, physical therapy, respiratory th...

In our last post in this series, we shone the spotlight on the Tax Cut and Jobs Act , known as the TCJA, and how it affects estate plans with respect to gift and estate tax exemptions and generation-skipping transfer taxes. This post will examine how the TCJA will impact retirement planning by reviewing the changes to Roth conversions, 529 savings plans, and the elimination of the individual mandate provision of the Affordable Health Care Act .                                                Before we get started on the discussion for today’s topic, a disclaimer. The Giro Law Firm does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors befor...