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

When an aging adult is no longer capable of making important decisions for him or herself, they will often rely on someone else to make those decisions for them. The person who makes those decisions is known as the guardian of the aging adult. The guardian has the responsibility of acting in the best interest of the aging adult by making appropriate decisions that will benefit that  individual. It is necessary for the right person to be selected to take on the role of the guardian in situations where an elderly adult needs the extra assistance.                                                                               Handling the Finances The guardian is responsible for handling the finances of the aging adult. Handling the finances means paying attention to bank accounts for a...

When you have worked hard to have assets, you want to have a way to protect those assets later in life. You have likely saved money over the past few decades and will continue to do so for several more decades. When you have carefully planned things out because you want to have a financially secure future when you become a senior, you need to know the options that are available to you for protecting your assets later in life . You should have an asset protection plan in place.                                          Have a Trust and Trustee One way to protect your assets later in life is to have a trust created and to appoint a trustee to that trust. The reason you should have a trust is to have someone who can manage your assets for you when you are older and are unable to do so by yourself. The trustee that you select should be someone in whom you can put your trust, ...

Divorces are often a challenge for all couples, but things can get even trickier for high net worth couples . The reason these cases are often tricky is that one or both individuals that were married are bringing in large sums of money. There may be special considerations that would need to be reviewed, including any prenuptial agreements that were created and signed before both parties exchanged vows and got married. Reviewing the Prenuptial Agreement Most people with a high net worth will have a prenuptial agreement drawn up before they get married. The purpose of the agreement is to protect their finances and assets in the event of a divorce. Before figuring out who gets what after the divorce, the prenuptial agreement must be carefully examined by the attorneys for both parties. Certain things may have been agreed upon in advance, including alimony support payments that one person will receive from the other person after the divorce. The ownership of different assets may ...

Do you want to make sure your will does not go through  probate  in the aftermath of your death? When a will goes through probate, the court must decide who gets what. Although this may not sound ideal, there are ways to avoid probate altogether. You must take certain steps while you are still living to ensure that you have properly handled your estate and have made important decisions on who you would like to have as beneficiaries. Add a Joint Owner to Everything You Own If you know, love, and trust someone important in your life, such as your partner or adult child, you can add that person as a joint owner to everything you own. For example, you would add this person’s name to your bank account while making him or her co-owner of anything you own, such as your home, rental properties that are in your name, and any vehicles that belong to you. When you have a joint owner and you pass away, probate is avoided because the joint owner will get to keep your belongings....

A special needs trust is an important legal item that parents of special needs children should look into with the help of a family law attorney in New Jersey. At the same time, if you have an adult child or an elderly parent who has special needs, you should also look into the benefits of this type of trust. A special needs trust can help provide for your loved one without removing his or her eligibility for government benefits. How? The trust owns the assets, not the person for whom it was created. This means that the beneficiary of the trust is still eligible for Medicaid and Supplemental Security Income (SSI).                                                                            Provide Assets for a Family Member Upon Your Death One of the most important reasons why you should cr...

Living as a co-parent in a child custody arrangement is not easy for everyone. Even if you are able to communicate well with the other parent, the situation can still be challenging to navigate. As a co-parent, the most difficult time of the year is often when school resumes. Why? Having a child go back to school is not only stressful on you, but on the child, as well. Below, you will find some tips for preparing for the new school year as a co-parent so it goes off without a hitch. Get Everyone on the Same Page The most important thing you can do in preparing for a new school year is to get everyone on the same page, including the other parent. Everyone should have the schedule from the school for the year so that there are no questions about the first day or when the child has days off from school. Arguments are more likely to occur when the parents are not on the same page. It does not mean that the two of you need to be cordial or have a good relationship. You must simpl...

Veteran Aid is provided by the United States Department of Veterans Affairs and is offered to service members. Many of these service members spent decades fighting for the country. All veterans have earned the right to the aid that is offered to them, but many are not aware of the types of benefits they can receive and are entitled to. Unfortunately, because there is a lack of understanding about these benefits that are available, there are many veterans who are not collecting these benefits and reaping the advantages that are associated with them. An estate attorney can help a veteran with applying for and eventually receiving Veteran Aid. Assisting with the Application Process Some veterans have a difficult time with the application process. They might not know what types of information is needed to help them receive the benefits they have earned because of their willingness to fight for the country. Applying for the aid that is available is something that vete...