Tag Archives: nj estate planning

Aging NJ Seniors – Home Care Planning

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Expert Home Care delivers home health services to seniors at home. We help seniors live at home safely and independently in New Jersey. Here’s more information on whether you should consider a will or a living trust for your estate planning in NJ. We can be reached at  (800) 848-2336.

NJ Seniors Seek Simple Wills

You probably have read and heard throughout your life that if all you is take care of your legal affairs, you should write a will. That’s great advice. Keep in mind that when you don’t make a will before your death, then state law will determine who gets your property – the bad news it may not be whom you would have chosen!

What might be worse.. is a judge may decide who will raise your children. In your will, you can make these decisions yourself. Forget the fancy trusts you’ve heard about: most people can get by with only a basic will.

Maybe all you need is a basic will, you can confidently use a good self-help book or software to make a legally binding will that:

  • leaves your property to the people and organizations you choose
  • names a guardian to care for your minor children if you can’t
  • names someone to manage property you leave to minor children (yours or someone else’s), and
  • names your executor, the person with authority to make sure that the terms of your will are carried out.

http://www.nolo.com/resource.cfm/catID/FD1795A9-8049-422C-9087838F86A2BC2B/309/

Independent Senior Living – New Jersey Seniors – 24 Hour Care

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Expert Home Care when your aging seniors in New Jersey needs live-in care, elder care, or senior home care in NJ  800-848-2336.

*Better Business Bureau – BBBOnLine Participation Confirmed For Expert Home Care, Inc. meets all BBBOnLine participation and Better Business Bureau membership standards and is authorized to display the BBBOnLine trustmark.

Continued from our posting date August 13th – Estate Planning for New Jersey Seniors

The place seniors should start is with a complete financial inventory. This includes taking not of income, assets, expenses and even liabilities. Talk about what the senior is interested in long term. Is retirement living an option or will the family home be sold. These are important questions that should be worked out early on before a situation arises. Finally, determine what kind of insurance the senior will have as well as how much money for retirement.

Also, discuss a senior life settlement. This is an option for seniors who want to sell their life insurance policy for more than the cash value the life insurance company would give them to cash out. This means seniors can sell life settlements and get money to live their retirement on and the individual who bought the insurance policy will simply cash it out upon death.

Before making any of these serious decisions it is important for seniors to discuss their options with a professional. Lawyers well versed in senior matters or financial planers are two great resources for seniors to have their legal questions answered and to receive the help they need planning their retirement. Most of the time using an expensive attorney will be expensive in the short run but it will result in major savings down the road and is worthwhile.