If you're a young professional of the millennial generation, you've probably got a lot on your plate. High unemployment during the Great Recession, an average of $30,000 in student loans -- you've even redefined the American Dream as a life lived without debt.
The Health Insurance Portability and Accountability Act, or HIPAA, was passed in part to protect patient privacy. Entities covered by HIPAA, such as healthcare providers and insurance companies, are generally prohibited from releasing personally identifiable health information to anyone unless the disclosure is necessary for treatment, to protect public health, or for certain other purposes considered critical.
When it comes to planning one's estate, the process can seem overwhelming. There are a multitude of issues to address, and it can be difficult to know which items take priority over others. One aspect of estate planning that is often overlooked by New Jersey residents is the need to assign multiple powers of attorney (POA.) Making the necessary decisions and getting those documents in place now can save a great deal of turmoil and frustration for loved ones later.
Recent and upcoming legislation will make changes to estate taxes. The proposed changes will impact taxes connected with individual estates. However, those changes don't alter the fact that there are millions of people who die each year without having the basic documents in place to protect their families. It is so important for New Jersey residents, regardless of age, to consider even the basics of estate planning by having a will in place.