An executor, trustee, financial agent, or health care representative who was a good choice years ago may no longer be the best person to serve. A named individual may have died, moved away, developed health problems, or simply be less available. Review primary and successor fiduciaries and make sure current contact information is available.
This is especially important for incapacity planning. A properly drafted power of attorney can authorize a trusted person to handle financial or other matters if you cannot act for yourself. Keeping the document and the named agents current may reduce the risk that a court-supervised guardianship becomes necessary.
Retirement accounts, life insurance policies, transfer-on-death accounts, and other beneficiary-designated assets may pass outside a will. After retirement, marriage, divorce, a spouse’s death, or the birth of grandchildren, review those designations with the will and any trusts so the documents don’t point in different directions.
Asset ownership also matters. A new home, inherited property, an investment account, a business interest, or an account titled jointly with another person can change how property passes at death and how the overall plan works.
New Jersey no longer imposes a state estate tax on estates of people who die on or after January 1, 2018, but the state still has an inheritance tax for certain beneficiaries. The rate depends on the beneficiary’s relationship to the deceased and the amount transferred. Review current New Jersey inheritance tax rates before using gifts or beneficiary changes as a tax-planning strategy.
For example, Class C beneficiaries such as siblings generally receive an exemption on the first $25,000, after which progressive inheritance-tax rates can apply. Lifetime gifts are not automatically outside the tax rules: certain transfers made within three years of death may be presumed to have been made in contemplation of death, depending on the circumstances. Federal gift-tax rules may also need to be considered.
After age 65, an estate-plan review should also consider how future long-term-care costs could affect the plan. Medicaid eligibility has separate income, resource, transfer, and estate-recovery rules, and some planning choices can affect both eligibility and what eventually passes to beneficiaries. The firm’s Medicaid eligibility and planning practice addresses these issues for New Jersey families.
This does not mean every senior needs a Medicaid trust or should transfer assets. It means long-term-care planning should be coordinated with the estate plan before making major gifts, retitling decisions, or trust changes.
Email, cloud storage, cryptocurrency, social media, and other digital property may require specific planning. New Jersey has adopted the Uniform Fiduciary Access to Digital Assets Act, which addresses when fiduciaries may obtain access to digital assets. Account-level tools, terms of service, and the language in estate-planning documents can all affect access.
Keep an inventory of important accounts and make sure the estate plan gives the appropriate fiduciary enough authority to manage digital property without placing passwords directly in a public will.
A review after age 65 is especially useful after the death or incapacity of a spouse or named fiduciary, a marriage or divorce, a move to another state, a major change in assets, a new diagnosis, or a change in long-term-care expectations. The goal is not to rewrite every document every year. It is to make sure the existing plan still reflects the people, property, and decisions that matter now.
Rice & Quattrone, PC, helps New Jersey families coordinate estate planning, elder law, long-term-care planning, and related tax considerations. Call the Cherry Hill office at 856-673-0048 or the Linwood office at 609-398-3447, or contact the firm online to review whether your current plan still fits your needs.
]]>New Jersey updates Medicaid financial standards regularly. For 2026, the state lists a $2,000 resource limit for an individual in the relevant long-term-care Medicaid category and a monthly income cap of $2,982. The 2026 community spouse resource allowance ranges from $32,532 to $162,660. Confirm these figures again before filing an application, as they can change.
The state also increased the base community spouse maintenance allowance to $2,705 effective July 1, 2026. See New Jersey’s 2026 Medicaid income and resource standards and the 2026 community spouse maintenance update for the current published amounts.
For certain long-term-care applicants whose income exceeds the applicable cap, a Qualified Income Trust may be part of the eligibility process. A QIT does not remove the separate resource limits or other Medicaid requirements.
New Jersey reviews transfers made during the 60 months before a long-term-care Medicaid application. Gifts and other transfers for less than fair market value can create a period of ineligibility unless an exception applies. The amount transferred and the applicable Medicaid penalty divisor affect the length of a penalty period.
The timing matters because a transfer penalty generally does not simply run from the date of the gift. A family that waits until long-term care is imminent may have fewer planning choices than a family that reviews these issues years earlier. That does not mean late planning is pointless; it means the available strategies may be different.
Payments to a child or another family member for caregiving can raise Medicaid transfer questions if the arrangement is informal or poorly documented. A written caregiver agreement, reasonable compensation, records of services provided, and appropriate tax reporting can help show that payments were for actual care rather than gifts. Review the details before making substantial payments.
Medicaid eligibility planning should also account for what may happen after a recipient dies. New Jersey Medicaid can seek recovery from certain assets of a deceased beneficiary who received covered services on or after age 55, subject to statutory protections and exceptions. The state uses a broad estate-recovery definition that can include interests in jointly held property, survivorship arrangements, life estates, and living trusts. New Jersey provides additional Medicaid estate recovery guidance for beneficiaries and families.
Because estate recovery and eligibility rules are separate, changing title to an asset or adding another owner should not be treated as a simple Medicaid solution without first reviewing the consequences.
No single age applies to every New Jersey resident when to begin Medicaid planning. A useful time to review the issue is when long-term care costs become a realistic concern, when health changes, when a spouse begins needing more care, or before making large gifts or transfers that could fall within a future five-year look-back period.
Early planning may provide more flexibility, but families already facing a care crisis should still seek advice. Medicaid eligibility can involve income rules, resource rules, transfer penalties, spousal protections, trusts, and estate-recovery considerations that vary by situation.
Rice & Quattrone, PC, has focused on elder law and related planning for decades. If you are considering long-term care for yourself, a spouse, or a parent, call the Cherry Hill office at 856-673-0048 or the Linwood office at 609-398-3447, or contact the firm online to discuss the timing of your Medicaid planning.
]]>Estate planning addresses how the individual wants their financial legacy, or estate, to pass to their loved ones, which is generally through wills and trusts. It also deals with advance healthcare directives as well as financial and medical powers of attorney.
The more carefully you address your estate planning needs, the more smoothly you can expect things to proceed when the time arrives. Having a skilled elder law attorney backing you up also comes with the peace of mind that comes from knowing your wishes will be upheld.
If you ultimately require long-term care, the immense expense can quickly eat through your assets. There are important elder law strategies that can help you protect your assets in the process. A primary concern to keep in mind is that Medicaid implements a five-year look-back period, which makes addressing long-term care planning well before you need it the best approach.
Adult guardianship is a complex legal process that is handled by New Jersey courts. When an individual is incapacitated and has not implemented a Power of Attorney before the onset of incapacity, the court can appoint a surrogate to make decisions on their behalf.
Guardianship can take two different forms. One is guardianship of the person, which gives the guardian the authority necessary to make primary decisions over the person’s health care, overall welfare, and living arrangements. The other is guardianship of the estate, which gives the guardian the authority to manage the person’s finances, including paying their bills and protecting their assets.
Probate and estate administration refer to the legal process of settling a decedent’s final affairs. This includes all the following:
Address your related needs with a knowledgeable elder law attorney today.
Our capable New Jersey elder law attorneys at Rice & Quattrone, PC are Certified by the National Elder Law Foundation. Our knowledge and experience allow us to help our clients put solid plans and financial tools into effect, and we’re here for you, too. To learn more about everything we can do to help, please don’t put off reaching out by contacting us online or giving our firm a call at 856-673-0048 today.
]]>It’s important to keep key considerations in mind when taking steps to protect your assets in the context of long-term healthcare needs.
In New Jersey, Medicaid employs a strict 5-year, or 60-month, look-back period. This means the state will carefully review all your financial transactions, including gifts and the transfer of property, during the five years prior to your application date. Any improper activity within this time frame can trigger ineligibility or a financial penalty.
If you haven’t implemented any plans in relation to long-term care in advance, there may still be opportunities for crisis planning. While you’re likely to have fewer options, a trusted elder law lawyer can help.
There are several primary asset protection strategies that help many people protect their assets in the event they require long-term care in the future.
A Medicaid Asset Protection Trust (MAPT) allows you to transfer your home or savings into an irrevocable trust. This means the assets in question will no longer be included in your personal estate. For a MAPT to protect the assets included, it must be set up and funded before the five-year look-back period begins.
If you’re married, you have the option of converting a sum of cash into a Medicaid-compliant annuity (MCA) that can serve as an income stream for your spouse who doesn’t currently require long-term care. When structured correctly, this form of annuity can safeguard your assets while allowing you to meet Medicaid eligibility requirements. And this applies even if the MCA was created during the look-back period.
The law allows you to spend assets that generally wouldn’t be exempt in terms of Medicaid eligibility on specific items that will not count against your limit. These include:
You may also be able to pay a family member to provide you with caregiving services if formal procedures are followed before payment is made for the caregiving services. In this way, you legally transfer funds to your loved one in the form of purchasing services rather than giving them the money as a gift. However, the payments will be income taxable to the care provider.
Our dedicated New Jersey elder law attorneys at Rice & Quattrone, PC, dedicate our impressive practice to helping our valued clients protect their assets, including in relation to the need for long-term care. For more information about what we can do to help you, please don’t delay [contacting us online or giving our firm a call at 856-673-0048 today.
]]>At Rice & Quattrone, our New Jersey estate planning attorneys are dedicated to helping clients execute powers of attorney documents rather than leaving these decisions in the courts’ hands. We offer a customized approach to ensure your wishes are carried out.
A power of attorney is an estate planning document that appoints someone to act on your behalf if you become incapacitated. New Jersey has two distinct documents, including a medical power of attorney and a financial power of attorney. A power of attorney comes with several features, including:
While you have mental capacity, you have complete discretion to appoint an agent (person acting in a fiduciary role) and define what powers they have.
Individuals who do not want to give over control immediately may choose to execute a springing POA. A springing POA will only take effect when a specified event occurs, not before. Without the springing clause, the POA takes effect upon signing.
Executing a POA is a relatively simple process that can be done in your attorney’s office, not a courtroom. For a financial POA, New Jersey law generally requires your signature to be notarized and witnessed. At the same time, a medical POA (also known as a health care proxy) must be signed in the presence of two adult witnesses or a notary.
If you are creating a POA for long-term planning, ensure it has a “durable designation.” A durable POA survives incapacity. According to the Revised Durable Power of Attorney Act, a POA is not automatically durable under New Jersey law but must contain the verbiage “this power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time.” However, a POA must be executed before you lose capacity.
As long as you remain competent, you can revoke it at any time.
The scope can be broad or narrow, covering either a medical POA or a financial POA. A prime example of a limited POA is executed for a real estate transaction, allowing an agent to buy, sell, or refinance on your behalf.
Unlike a power of attorney, a guardianship is a court-involved process that names an agent to make decisions on a person’s behalf after that person has lost capacity. A guardianship occurs when there is either no valid POA or the existing arrangement doesn’t suffice.
A guardianship differs from a power of attorney in the following ways:
A guardian is appointed for a person who is already incapacitated, not someone who still has capacity. The court will make the final decision on who is best suited to serve.
New Jersey requires that a petition be filed with the court and accompanied by certifications from at least 2 physicians or psychologists. The physicians or psychologists must have examined the person within 30 days of filing the application for guardianship.
New Jersey courts recognize three types of guardianship:
Guardianship is not a one-time court order, but an ongoing legal relationship between the guardian and the court. Guardians are subject to annual reporting requirements, well-being reports, and other documentation depending on the type of guardianship. This supervision is designed to protect the individual under the court’s continuing oversight.
Although you may still be healthy, it is important to execute a durable POA now to prevent court involvement in the event you become ill. Early planning can avoid the expense of a guardianship and keep your affairs private. Deciding who should serve in this fiduciary capacity can be overwhelming, but it doesn’t have to be. At Rice & Quattrone, our team of attorneys seeks to reduce the stress that comes with estate planning. By assessing your healthcare needs and financial situation, we develop a comprehensive estate plan that meets your wishes.
To schedule your consultation with one of our New Jersey estate planning attorneys, contact our office online or by calling (856) 673-0048 today.
]]>At Rice & Quattrone, PC, our New Jersey estate planning lawyers are here to help you develop an estate plan that aligns with your wishes while understanding the legal implications of each decision.
The most common reason that a decedent names multiple beneficiaries in an estate plan is peace of mind. You want to ensure the individuals’ needs are met and that the distributions show how much you value each relationship. You may choose to allot different percentages to each beneficiary or equal shares.
A well-drafted estate plan can make your intentions clear when they might otherwise be unclear. Stating which beneficiaries receive which assets will reduce the risk of conflict among family members.
Naming beneficiaries on life insurance policies, retirement plans, or payable-on-death (POD) or transfer-on-death (TOD) accounts allows these assets to bypass probate entirely (although that is not always prudent). Alternatively, if these accounts have no beneficiary, they will have to go through New Jersey’s Surrogate’s Court (contested matters, on the other hand, will be handled in the Superior Court, Chancery Division, Probate Part).
New Jersey inheritance tax varies by the relationship of the beneficiary to the deceased, with more distant relatives paying higher taxes on their share. So, if you name multiple co-beneficiaries, including close relatives and more distant ones (nieces, nephews, friends), the more distant beneficiaries will face a greater tax exposure.
If multiple beneficiaries share an asset (such as your home, brokerage account, or business), they may disagree about how to manage the jointly held property. Ultimately, the personal representative (PR) has the authority to decide what happens to disputed assets (while still bound by the terms stipulated in the will). In cases where beneficiaries believe that a PR is not acting in the estate’s best interest, the probate court may need to step in.
When multiple beneficiaries are named to certain assets, additional paperwork must be filed with the court. Tax waivers or affidavits must be filed to release certain assets. For non-real estate investments, beneficiaries must file Form L-8; for real estate investments, they must file Form L-9.
However, both Form L-8 and Form L-9 apply to Class A-only estates or to estates where each beneficiary is a Class A beneficiary. Class A beneficiaries include spouses, domestic partners, children (through blood or adoption), parents, grandparents, and other lineal descendants. Descendant’s stepchildren are also included (but not step-grandchildren). The more beneficiaries named to an estate, the more paperwork is required, potentially slowing property distribution.
When multiple beneficiaries are being named on an estate, it may be a good idea to consider creating a trust. A trust can allow you to maintain control over how and when assets are distributed. This can be especially helpful when naming minor beneficiaries, who need extra structure. An irrevocable trust could help with other issues, such as long-term care planning and Inheritance Tax avoidance.
As always, at Rice & Quattrone, PC, we listen to your wishes to construct an estate plan that best meets your needs.
If you have questions regarding beneficiary planning, our New Jersey estate planning lawyers are here to assist you. For over 30 years, Rice & Quattrone, PC, has assisted individuals in developing estate plans tailored to their needs. Whether you are interested in updating an existing plan or starting from scratch, our legal team is here to help. To arrange your consultation with one of our attorneys, contact us online or by calling (856) 673-0048 today.
]]>Before exploring specific protection strategies, it’s important to understand that many applicants can plan to qualify for Medicaid without spending everything they have worked their lives to save. At Rice & Quattrone, PC, our New Jersey long-term care planning lawyers know how to utilize strategic planning to both protect your assets and meet your care needs. If you are considering long-term care options, feel free to reach out to our legal team.
Medicaid eligibility hinges on an individual not exceeding the income and asset thresholds. In New Jersey, an individual applying for Medicaid is not allowed to have more than $2,000 in countable assets ($3,000 if a married couple is both applying for Medicaid). To circumvent the asset requirement, you may be able to place your assets in a Medicaid Asset Protection Trust (MAPT). Funds in MAPT will not count against your Medicaid eligibility, making it a great resource for individuals who exceed the asset limit. Nonetheless, you must retitle assets at least five years before applying for Medicaid (or risk being denied services for a period of time).
Strategic planning can protect your assets if you later require nursing home care. However, Medicaid requires that most gifts or transfers be made at least 5 years prior to applying for Medicaid. Most transfers or gifts made after this time will be counted against you when you apply for long-term care services.
Gifting assets or selling property at a price below fair market value, or within the five-year period, will trigger a Medicaid transfer penalty. As of April 1st, 2026, the daily penalty advisor is now $420.67. Medicaid calculates the penalty period by dividing the resource/asset gifted by the penalty divisor, then rounding down. The penalty clock starts when the individual applies for Medicaid, even if they would otherwise be eligible for benefits.
If your spouse needs nursing home care, rest assured that New Jersey recognizes the importance of protecting the healthy spouse. The rules allow the community spouse to keep a portion of your assets and income, known as the community spouse resource allowance, ranging from $31,725 to $162,660. These protections are in place to give your family stability during this time.
However, the institutionalized spouse may have only $2,000 in countable assets. Of the countable combined assets, the community spouse is permitted to retain 50% of the total assets, subject to the minimum and maximum amounts above. Exempt assets include your primary residence, one vehicle, personal belongings, and certain funeral and burial accounts.
In addition to asset protection, a portion of the community spouse’s income will be protected. In New Jersey, the minimum monthly maintenance needs allowance (MMMNA) establishes a monthly allowance for the community spouse to live on. This adjusts yearly, with the new base to the community spouse allowance increasing to $2,705.00 as of July 1st, 2026. Unlike gifting to your children or other family members, the five-year lookback rule does not apply to spousal transfers.
Ready to protect your assets and plan for long-term care? Contact Rice & Quattrone, PC online or call (856) 673-0048 today.
]]>At Rice & Quattrone, PC, our New Jersey elder law attorneys will advise you on what issues are the most pressing based on your current needs. With our legal team in your corner, you can feel at ease knowing that your interests remain our top priority.
About 70% of people aged 65 and older will need long-term care. As people live longer and end-of-life care costs rise, planning for long-term care is essential. Our attorneys can help create a financial plan for your medical expenses and guide you in choosing the right assisted living or nursing facility.
If you wish to remain in your home, you may be eligible for a home health aide through the Home and Community-Based Services (HCBS) program. HCBS offers much more than personal care assistance; it also provides medically tailored nutrition, transportation, medication management, and home modifications. To qualify for HCBS, you must meet additional criteria. No single path is right for everyone, which is why our legal team is eager to help you find solutions that minimize stress.
Government assistance, such as Medicaid, requires that you meet certain income and asset limits. Currently, the income eligibility threshold for NJ Medicaid long-term care is $2,982 per month, and the countable asset limit is $2,000 for a single applicant. Even if you are above these thresholds, there are still ways that you may be able to qualify for Medicaid.
New Jersey Medicaid has a five-year lookback rule, so you want to be sure that any gifts you have made are done at least five years before you require nursing home care. Gifting to children or grandchildren, to a Trust, and even adding your child to the deed to your home all count as transfers. If you transfer assets within the five-year period, a transfer penalty will apply. This means that you will be ineligible for benefits during the applicable penalty period. If you have any questions about asset transfers, speak with our experienced elder law lawyers.
If you have a sibling, child, or grandchild with intellectual or physical disabilities, it is important that you make legal arrangements for them once you are gone. A special needs trust, or a supplemental needs trust, can do just that by providing financial assistance to disabled individuals who receive, or may receive, governmental assistance in the future.
Both Medical Assistance (MA) and Supplemental Security Income (SSI) require a disabled individual to have no more than $2,000 in assets. However, a special needs trust will allow a disabled person to qualify for MA and SSI by removing assets from their name. The individual is named as the beneficiary of the trust, while still meeting the asset requirement for government assistance programs.
If you have a special needs child or other family member, our New Jersey elder law attorneys are happy to advise you on which trust will benefit your family member most.
Although many retired individuals will eventually require nursing home or assisted living care, the costs remain astronomical. Effective long-term care planning can help you find a nursing facility that meets your physical needs without depleting your bank account.
At Rice & Quattrone, PC, we know these decisions are never simple. Contact our New Jersey elder law attorneys to schedule an appointment. Reach us online or call (856) 673-0048 today to get started on securing your future.
]]>Turn to our experienced New Jersey estate planning attorneys at Rice & Quattrone, PC, for the help you need.
In the event you are ever temporarily incapacitated or experience a long-term incapacitation, having the necessary powers of attorney in place helps bypass the state’s intervention. In the process, you limit your own and your family’s exposure to complex and costly legalities.
Without a well-considered POA, there is an absence of authority in the event you ever become incapacitated. At that point, your authority to assign an agent passes to the court. By assigning someone whom you trust to make critical decisions for you, you set the stage for your wishes to be upheld and for the decision-making process to be more streamlined.
Authority granted by a POA can either be “immediate” or “springing,” meaning authority under the POA does not “spring” into effect until your incapacity. One of our Certified Elder Law Attorneys at Rice & Quattrone, PC, can help you decide which is more appropriate for you. In either instance, if you can’t make key decisions for yourself, whether the issue is temporary or long-term, the person named in your POA can take over.
Powers of attorney generally break down into the categories of financial POA and healthcare POA.
A financial POA can apply to a specific financial matter, can apply to your entire estate, or can land anywhere in between. It’s generally advisable, however, to consider financial authority in relation to supporting your ongoing care, in the context of your wishes. This includes all the following that apply:
Doctors are seriously limited by HIPAA (Health Insurance Portability and Accountability Act), which makes having a medical POA in place a critical concern. Your healthcare POA should also directly address the matter of your long-term medical needs. This helps to ensure that your wishes will be upheld and can bolster your agent’s confidence in the decisions they make on your behalf.
Our capable Certified Elder Law Attorneys at Rice & Quattrone, PC, are committed to helping you establish powers of attorney that bolster your confidence in the future, which is a primary function of estate planning. For more information, please don’t wait to reach out by contacting us online or giving our firm a call at 856-673-0048 today.
]]>There are several key qualities you should be looking for when it comes to filling these roles.
To begin, access is very important in relation to decision-making authority. While living nearby isn’t a legal requirement for assignment of these roles, it can afford you considerable peace of mind. It also means that the person filling the role is far more likely to be available to make well-considered decisions when they need to be made.
While proximity is an important administrative detail, integrity is paramount. The person or people you choose to take on these two key roles should be someone whom you and your parents trust implicitly.
When it comes to the attorney in fact, you want someone who exhibits unimpeachable financial responsibility. Their financial focus should also align with your parents’ financial sensibilities.
Your parents’ healthcare representative needs excellent communication skills, and they must be prepared to and capable of making difficult decisions in emergency situations. Finally, they must understand, appreciate, and be willing to follow your parents’ healthcare and end-of-life wishes.
By the time the attorney-of-fact or healthcare representative you’ve elected is called upon to make decisions, one of your parents may be nearing an end-of-life stage. In other words, it’s a challenging emotional time for any family, and the situation can become very complicated very quickly. This makes it very important to have a representative who can remain cool under pressure and who has the finesse to gracefully handle any family conflict or drama that may arise.
Many families prefer to choose one person to fill both roles. If you have someone in mind who has all the qualities you’re looking for in both an attorney-in-fact and a healthcare representative, they may be the right person to wear both hats. This helps streamline the process and can help minimize conflict during difficult times. A seasoned New Jersey elder law lawyer can help you make the right choices for your family.
Our dedicated Certified Elder Law Attorneys at Rice & Quattrone, PC, have the compassion and legal skill to help you effectively assign the important roles of attorney-in-fact and healthcare representative on behalf of your aging parents. To learn more, please don’t delay contacting us online or giving our firm a call at 856-673-0048 today.
]]>