Blog Archives - Page 12 of 13

September 1, 2014August 29, 2014

Are you the “Executor” of a Will? Here’s a helpful guide to your duties and responsibilities

Probate law in New Jersey can be complex, especially if you have been named as the executor of a deceased person’s Will. Hiring an attorney who specializes in estate planning will be helpful, but we’ve created a list of duties and responsibilities so that you can familiarize yourself with your new role in the meantime:

Analyze the will and documents

If the deceased had a living trust and all of his or her assets form part of the trust, then you will be able to avoid probate and the funds can be distributed according to the Will without waiting for approval by a court. If the assets weren’t transferred to the trust prior to death, then it will be your responsibility to offer the funds for probate and you will need a judge to approve the dispersal of the funds.

Administrative duties

As the Executor of the will, you will be responsible for closing the deceased’s financial accounts, finalizing the tax processes and cancelling any government benefits that the deceased received prior to his or her death. The funeral home will give you a death certificate (which you will need in order to complete all these administrative tasks) and you will also be responsible for arranging and executing the funeral.

Determine the value of the assets and distribute assets accordingly

The Executor is also responsible for locating all the assets in the Will. These assets typically include real estate, vehicles, artwork, furniture, electronics and so forth. The attorneys who prepared the Will can help you with this, but you aren’t obligated to hire the original attorneys who prepared the Will for the deceased. After locating all the assets and determining their value, you will be responsible for distributing the assets according to the Will.

Let us help guide you through the New Jersey probate process

Make sure you and your loved ones receive the inheritance that was left for you. If you are left with a last will and testament and want an uncomplicated way to understand and execute all your duties, book a consultation with our probate attorneys in New Jersey today.

August 18, 2014November 14, 2014

What to do when a Will’s validity is contested – Advice from Elder Law specialists

While we would all like to hope and believe that our assets and estate would be passed on in accordance with our wishes, the sad truth is that many times this does not happen. Whether through negligence in planning properly before death, poorly drawn up wills and other documentation, or having multiple heirs who are not in agreement about their rights to property of the deceased. These disputes can be ugly, especially if large sums of money are at stake.

There are essentially two scenarios here: Avoiding conflicts over your will after you die, and contesting a will left by someone else.

How to Challenge A Will’s Validity (Contested Will)

If you’ve recently experienced the passing of a loved one and the validity of their Will is being contested, your best bet is to have a lawyer review the current version of their Last Will and Testament. A Last Will and Testament can be a complex document that requires an experienced eye to understand both what is said and what isn’t said and how that may affect your claim to property.

During the probate process, the will and all contested claims will be considered by a court when making a final disposition of the estate. When you hire us represent your claim, our responsibilities will include:

Locating and analyzing the current Will.
Assessing its validity in the face of other documents
Presenting your claim to a probate court.
Negotiation with the executor and other principles of the will on your behalf.

How To Avoid Conflicts Over a Wills Validity After You Die.

On the flip side, if you are concerned that you may be leaving your estate into a potentially divisive situation. Here are a few things to keep in mind.

Involve your heirs in the estate planning process. The more they understand your wishes before you die, the less likely they are to fight over it afterwards.
Draft a comprehensive and an “air-tight” will. This kind of work is not for the do-it-yourselfer, you should be hiring a competent elder law attorney to do this.
Be fair in the distribution of your estate. You know who is likely to challenge your will. Sometimes its better to leave them something than risk that they muddy the waters later.

SCC Legal can Represent Your Interests Through the Probate Process.

During the probate process, the will and all contested claims will be considered by a court when making a final disposition of the estate. Frank Campisano of SCC Legal is highly experienced at providing successful resolutions to these matters as part of his commitment to providing outstanding elder law services in New Jersey. If you would like more information about elder law and all it entails, if you are in need of legal advice, or if you have any questions, please do not hesitate to contact us today.

We look forward to hearing from you.

August 4, 2014August 27, 2014

Healthcare proxy and medical directives are about preserving dignity and comfort

Creating a heathcare proxy in New Jersey is an important task that should not be neglected. A healthcare proxy is a document that appoints someone, chosen by you, to make medical decisions on your behalf in the event you become unable to do so. Many people appoint a relative or a close friend to be their healthcare proxy and it’s important to have a healthcare proxy for you and every member of your family.

A medical directive, which is another name for a healthcare proxy, ensures your wishes are carried out if you can’t make decisions for yourself. If you have any questions about establishing an official medical directive, please give us a call today and let us know how we can help you.

Let Frank Campisano assist you with friendly, expert elder law advice

Elder law requires compassion, expertise, trust and understanding. There is no such thing as a one-size-fits-all solution when it comes to elder law, which is why we create customized plans for each and every client. We take the time to understand your family’s needs, wants and desires and when you trust us you can rest assured you’re in excellent hands. Whether you’re just considering creating a healthcare proxy or you’re ready to create an official document, our team is here to help.

If you would like more information about why a healthcare proxy is important, if you are in need of legal advice, or if you have any questions, please do not hesitate to contact us today. Discover why so many people rely on us to arrange their healthcare proxies in New Jersey. We look forward to hearing from you.

July 28, 2014July 31, 2014

NJ Inheritance and Estate Tax – The Double Whammy

All things considered, there are better places to die than New Jersey.

Currently NJ is one of the few lucky states where the assets of the deceased are subject to both an inheritance tax and an estate tax, in addition to federal estate tax obligations that might apply. What’s more the threshold for estate tax exemption in New Jersey is only $675,000.00, a threshold many families and individuals will exceed, while the federal exemption is a whopping $5.34 million dollars affecting mostly the estates of the rich. While Maryland and New York have both opted to substantially raise their Estate Tax Exemption, there has been no attempt thus far to bring NJ state tax exemptions in line with federal amounts.

However, at the beginning of June NJ state senator Raymond Lesniak announced he plans to introduce legislation to repeal New Jersey’s estate tax and reinstate the so called “millionaires tax”, a non-death related tax on household incomes over $350,000.

One of the main reasons why this is being discussed is to close the $2.7-billion state budget shortfall through June 2015. It is estimated this proposal will bring in $850-million each year, which is required to close the fiscal year’s budget gap.

At least one independent study has indicated that the combination of estate tax, high property taxes and a previous millionaire’s tax drove wealthy residents from the state. Whilst many would like to repeal or raise the exemption for the estate tax, without offsetting revenue it would be politically difficult to move forward. Despite this Senator Lesniak still plans to move the bill forward. “I’m hoping that this estate tax repeal would present an opportunity for both Democrats and Republicans to get something that they want and help us solve the budget crisis.”

Despite its good intentions, it is likely the entire repeal exercise is a non-starter as Governor Chris Christie has promised to veto any attempt to reinstate the millionaire’s tax. Without this, a repeal or raising of the estate tax is unlikely as it would not have any offsetting revenue component and would drive the state further into a budget deficit.

So for the foreseeable future, NJ residents are stuck with both the inheritance and estate tax with its extremely low threshold. If you are concerned about your obligations under these taxes in New Jersey, Frank Campisano can help you design a strategy that gets more of your estate into the hands of your heirs and less into the hands of the government.

To speak to a skilled NJ estate tax planning professional call Frank Campisano and the team at SCC Legal now. We are here to give you the updated, clear-cut estate planning advice you need.

July 21, 2014July 31, 2014

Pass your assets to your loved ones – not the government

Elder law is an umbrella term for a number of legal services that can help you pass your assets to your loved ones instead of the government. If you know you have accumulated enough wealth for your retirement, you need strategies to ensure you can pass the rest of your wealth and assets onto your heirs. The three main options you have are as follows:

Name a younger beneficiary

If you have children and grandchildren, you can use a rollover IRA during your retirement which will pass your wealth on to your younger beneficiaries. If you do not plan for this, your living spouse will get all proceeds of your Will.

Consider a family trust

People incorrectly assume that family trusts are only for wealthy people. A carefully planned trust holds a number of benefits, such as ensuring that ex-partners and spouses do not to get access to funds and assets, as well as making sure your wealth is distributed exactly the way you want. You can also stipulate certain terms of the payments, such as only designating specific amounts to children and grandchildren at certain ages if they are deemed too irresponsible to handle large sums of money at a young age.

Gifting

You can gift certain sums of money to your heirs (up to a certain amount) without it annoyingly being subjected to tax. This ensures your heirs can keep more of the money without having to pay tax to the government.

Friendly, professional advice on NJ inheritance tax

New Jersey is one of only a few states that impose both an inheritance tax and a state estate tax. The NJ inheritance tax applies to anyone who lived or owned property in New Jersey and leaves the property to someone who isn’t a close relative. The tax rates are different in each circumstance because it is influenced by how closely the deceased and the person inheriting the property are related.

Leading law firm, SCC Legal, has an in-house specialist who can help you ensure that more of your estate goes to your heirs instead of the government. Frank R. Campisano is an experienced New Jersey elder law and employment law attorney. Frank is passionate about helping families and the elderly and he specializes in estate planning, will and trust administration and every area of elder law planning and preparation.

July 14, 2014July 31, 2014

Estate planning – Do I really need to Bother?

There’s a common misconception that estate planning is only for wealthy people, but each and every person that wants to leave the greatest amount of wealth possible to their children or loved ones should consider an estate plan and consider it now, not when you are at death’s door. An estate plan can be complicated but with careful and advanced planning with a good estate planning attorney you can insure that your heirs receive as much of your wealth as possible and in the manner that you want.

How Soon Should I Begin My Estate Planning?

Planning for your death isn’t always the easiest thing to do, But the fact is it is never too early to put your plan in place, particularly if you have young children or other dependents that would need care in the event of your untimely demise. The goal of an estate plan is simple enough: it is to ensure that your assets are passed on to who you want, when you want it and the way you want after you die. Your finances are very important and without careful estate planning years in advance, you may find yourself handing much more over to the government than is necessary. A good estate plan can solve both common and uncommon problems in the transfer of assets and in the planning for your care in your old age.

How to qualify for Medicaid financial help with assisted living or in-home care.
How to minimize State and Federal Estate and Inheritance Taxes?
What is a trust and how can it help me protect my assets from taxes?
How are things like stock and real estate passed to heirs?
How can I help prevent disputes between my heirs?
How can I prevent my estate from getting stuck in probate court?
Can I continue to support a Charity after my death?
How do I pass ownership of my business after my death?
Much much more.

There is no question that the larger and more complex your assets, the more you need an estate plan.

Contact us today to find out how Frank Campisano and the team at SCC Legal can help you with all your estate planning needs.

July 7, 2014August 11, 2014

Solving Medicaid and health benefits disputes with the help of an elder law attorney

Elder law attorneys in New Jersey help people with any legal difficulty they may experience as they age. One of the common problems our aging population faces is in getting full benefits from aid programs that are available. After all, the purpose of your Medicaid is to enable you to take care of your health as you age, to cope with existing medical conditions and gain access to the medical professionals and medications you need. Sometimes this becomes hard to sort through especially as one becomes older and in this regard an elder law attorney can provide some assistance that saves money and increases your covered benefits and handles disputes with care providers and Medicaid authorities.

Maximizing your medical coverage

Distinguishing between medical bills and the Explanation of Benefits form (EOB) from your Medicaid can be confusing, but understanding the paperwork and benefits your Medicaid offers is the first step in maximizing your coverage. The medical bill is sent by your medical provider and the EOB (which is sent by your Medicaid or insurance company) explains what you need to pay. These forms are usually sent if the amount your medical provider exceeds the benefits offered in your Medicaid. A good tip is to ask a medical provider or contractor if their rates are the same as the benefits offered in your plan before you book a consultation or ask your Medicaid company to provide you with a list of medical contractors who offer consulting fees that will be covered by your plan.

It is also important to analyze the bills you receive instead of paying in full immediately. Unfortunately, these bills often contain inaccuracies and overcharges, so ask an elder law attorney to review your case and your bills for you. If you don’t have Medicaid, it’s in your best interest to negotiate with the medical provider. Many doctors and medical consultants offer a discounted rate for the elderly and will either be open to a discounted rate or an interest-free payment plan.

Another way to maximize your Medicaid is to make sure you are benefiting from “visitors rights”. If you book a consultation with a doctor (such as eye exams, doctors’ visits and dental visits), the cost you pay out of pocket for the visit is deductible.

Medicaid disputes

The most financial disputes regarding Medicaid and elderly care revolve around discrepancies between treatments received and those billed for. If your Medicaid is refusing to pay for your treatments and medication, speak to an elder law attorney today. Hiring an elderly law attorney is a worthwhile strategy as they can explain all the benefits your Medicaid covers and follow up when the medical treatments you are billed for aren’t covered by your health insurance.

At SCC Legal, caring for the elderly and their families is a sacred trust and one which we take very seriously. We know your Medicaid and health care situation and needs are unique and we are here to make sure you get the care and benefits you deserve.

If you would like us to review your medical costs and deterimine whether you are deriving maximum benefit from aid and assistance programs like Medicaid, call Frank Campisano NJ Elder Law attorney today.

June 30, 2014June 12, 2014

How to Create a Will When the Kids Don’t Get Along

While the last thing we want to think about is our kids fighting over our assets when we die, the truth is this isn’t an uncommon experience. This is a time of highly charged emotions where infighting can happen over even the smallest matters – never mind who inherits what. Here are some guidelines on how to create a will which will stand up to any challenge:

Get professional help: The legal system is built on laws as well as loopholes and it takes a lot of work and experience to develop a will that is airtight. For a document as important as this one, no amount of DIY will stand up to a considered legal challenge, so if you want your wishes to be heard, make sure you speak to an attorney with considerable estate planning knowledge and an eye for detail. They will ensure your wishes are executed as you have requested and that your will is able to stand up to any challenges.
Stay up-to-date: Your finances and assets will change as your life changes – so don’t let anything slip by the wayside. You don’t have to revise your will every week, but you should certainly do it every three to five years. If your life undergoes a significant change however, from having a new child to winning the lottery, simply book an appointment as soon as you can.
Appoint a strong executor: Your executor will be responsible for dealing with your estate’s paperwork, gathering assets, ensuring debts are paid and distributing the remainder. If there is likely to be any challenges to your will, you want to have an executor who is confident, strong and able to handle this infighting effectively. If you would like them to have additional help, your attorney can draft a third party – for example, a bank trust department – to assist them with administering your will.
Tell your beneficiaries: Unlike in the movies, it’s best not to leave the announcement of who gets what until after your funeral. If you think your children or beneficiaries are going to fight, it’s best to let them know what your wishes are well in advance. This is best done in a calm, unemotional way where you can explain how you got to your decision. If there are certain things very important to family members that you were unaware of, this also gives you a chance to privately consider any changes.

Find an Estate Planning Attorney You Can Trust

In situations where you need to make difficult decisions about the distribution of your assets and the drafting of an ironclad will, it’s important your attorney is more than a legal representative – they need to be a trusted advisor. Frank Campisano is a dedicated and experienced estate planning specialist, with extensive legal expertise, on hand to assist you. By taking a personal, considered approach to all his clients, Frank is able to deliver the highest quality service while putting clients at ease. For more information on creating and managing your Last Will and Testament, please contact us today.

June 16, 2014June 12, 2014

Veterans Benefits for Assisted Living

Did you know VA benefits can be used to offset the cost of living in an Assisted Living Facility or Nursing Home in New Jersey, even if it’s not a VA facility? This little-known fact is one which can help many veterans cope with the recent dramatic rise in cost of living and medical care – and is one an experienced elder care attorney can assist you in achieving.

One such benefit is the “Aid and Attendance” pension benefit. Here, veterans and their spouses receive financial assistance in order to pay for support which assists in daily activities – from taking medication to dressing, eating and more. There are also increased benefits available to veterans who are blind, bedridden or are physically or mentally incapacitated.

Qualifications and Applying for Assisted Living Benefits

There are several criteria for qualifying for these benefits, most notably that veterans need to be honorably discharged having served 90 days or more in active duty, with at least one day during a period of war. Veterans must also have an accountable income below the maximum annual pension rate, be 65 or older and meet net worth limitations of having under $80,000 in assets.

Let Us Assess Your VA Benefits (H2)

At Sedita, Campisano and Campisano, we offer free assessments for veterans to ensure you are receiving all the benefits you are entitled to and are fully informed on all their applications. After meeting with Frank Campisano, we can provide the following services:

Determination of your full eligibility for Veteran’s assistance benefits.
Review/update current estate administration documents (Wills, Trusts, Healthcare Directives and Powers of Attorney).
Full review of your current financial position, assets and records.
Development and implementation of an Asset Protection Plan for yourself and your spouse, if applicable.

Frank Campisano, with years of experience in elder care, will be able to walk you through this complex legal field with compassion, patience and specialist knowledge. He knows how important it is to not only have a legal professional to guide you and go the extra mile, but to also have a trusted advisor who deals with you on a personal level. Contact us today and speak to an elder law specialist about VA assisted living benefits – because you deserve the highest quality legal care.

May 26, 2014June 12, 2014

Advance directives in New Jersey

What will become of you if you end up too ill or injured to communicate your wishes when it comes to prolonged life medical care if you don’t have advance directive measures in place? How will your family cope with having to make the difficult decisions on their own?

You can help by ensuring your family and health care providers are aware of your medical care wishes. Advance directive is the best way to ensure your decisions regarding your health care at potential end-of-life are made known to the medical professionals and your family.

What exactly is advance directive?

Advance directives are legal documents which detail and stipulate the type of care you are willing to receive, and the type of care or procedures you refuse. In these documents you will include how you feel about the use of breathing machines and dialysis. Also, it will cover whether you are willing to accept or refuse resuscitation if your heart or breathing stops. Tube feeding and organ donating are also areas that are covered.

What is the role of your attorney?

When it comes to drawing up legal and professional advance directives in New Jersey, Frank Campisano and his legal team is just the place to turn to. He will ensure your documents are drawn up and that the correct individuals are advised should anything happen to you and you are unable to communicate your own wishes. With his empathetic and compassionate approach you can expect for the otherwise stressful ordeal to be handled for your loved ones.

Part of the process is the appointment of a medical power of attorney, who is the individual responsible for making decisions in the event of you not being able to make them yourself. This particular person will need to see that the wishes of your advance directive are carried out to the letter. You can appoint a spouse, family member, child or even an attorney to be your medical power of attorney.

We encourage you to be in touch with us at SCC Legal – your first consultation is always free.