ABLE vs. SNT (Part 1)
I received a call from Joan. She told me that her sister Mary is named as an heir to part of their uncle’s estate. Mary is disabled and living in a group home. Joan was concerned that the inheritance Mary would receive of approximately $200,000 would jeopardize
Found Money (Part 2)
Last week I was explaining what happens to abandoned or unclaimed property. New Jersey has in its possession more than $1 billion of property that people have abandoned, usually because they have forgotten about the accounts. Nationwide, there is well over $50 billion in unclaimed funds. Financial
Found Money (Part 1)
In today’s world, change comes at a pretty rapid rate. That is certainly true when it comes to our assets and financial accounts. Many people move jobs and change financial institutions frequently. It is easy to understand how assets can be overlooked or forgotten. Maybe I never
What Constitutes a Validly Executed Will (Part 2)
Last week I was telling you about an Australian case in which the court held that a deceased man’s unsent text message found on his phone was considered to be a valid will. How might a New Jersey court rule on these facts? New Jersey law generally establishes that
What Constitutes a Validly Executed Will
An interesting case caught my eye on the internet the other day. An Australian court found that an unsent text found in a deceased man’s phone, stating that he wanted his estate to go to his brother and nephew, not his wife and son, composed before he took his
Governor Christie Signs New Law to Cover Digital Assets
On September 13, 2017 Governor Christie signed a new bill into law, the Uniform Fiduciary Access to Digital Assets Act (“UFADAA”). The new law becomes effective 90 days from the date of signing, December 12, 2017. The issue of accessing digital assets has become an increasingly troublesome one over
What Seniors Can Do to Protect Themselves From Identity Theft (Part 2)
Last week I told you about what you can do to monitor your credit report to keep an eye out for identity theft that may have occurred as a result of the recent Equifax data breach. This week we’ll talk about a more proactive approach, trying to stop theft
What Seniors Can Do to Protect Against Identity Theft
You may have heard about the most recent data breach that occurred earlier this month. The credit reporting agency, Equifax announced that their supposedly secure computer system was hacked. As many as 143 million Social Security numbers, names and addresses were accessed.
Preparing for a Natural Disaster
With all the news stories about Hurricanes Harvey and Irma, the destruction caused to Texas, Florida and Caribbean islands, and their aftermath, one story caught my eye. The deaths of 8 nursing home residents in Hollywood, Florida highlights the especially vulnerable position that the elderly face in
Medicaid and Annuities (Part 2)
In last week’s blog, I started to tell you about annuities and how unique they are when we are considering Medicaid. In order to achieve Medicaid eligibility, I must spend down my assets to below $2000 (married couple rules permit assets up to, in some cases, $120,900).