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Estate Planning Archives

Special needs trusts serve a special purpose

When you are creating an estate plan, there are sometimes some special considerations that you must take into account. One of these special considerations occurs when you have a dependent who is mentally ill or disabled. Often, a special needs trust is used to ensure that the person with special needs is properly cared for after you pass away.

What are some types of trusts I should consider for my estate?

When you are creating an estate plan, there are numerous options that you have to convey your wishes. Generally, people will choose to use a will and trusts to get their assets distributed in accordance with their wishes. Understanding trusts can be complicated, but there are some basic points to consider.

A will isn't the place to leave some items to beneficiaries

When you are creating a will, you likely want the will to be as comprehensive as possible. That is a good idea, but you should know that there are some items that aren't appropriate to include in a will. Understanding this before you write out your will can help you to avoid wasting time and effort.

Privacy laws: Health care representatives might be affected

We have often discussed making plans for your medical care, such as appointing a health care power of attorney. It might shock some of our readers to know that there is some concern about how Healthcare Insurance Portability and Accountability Act of 1996 affects the information that people who are listed on the health care power of attorney can receive.

Millennials: Find out now if your family has long-term care plans

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.

Could the health care privacy law block your living will?

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.

With all the news about estate tax changes, should I be worried?

Estate and inheritance taxes have been in the news lately, both in New Jersey and nationwide. In a recent, highly partisan vote, the U.S. House of Representatives recently called for the complete repeal of the federal estate trinax. Here, estate and inheritance taxes were a hot topic dug budget negotiations. Some lawmakers would consider expanding the tax to fill up the neglected Transportation Trust Fund. Others argue for limiting their application to fewer people.

Putting the family home into trust as part of an estate plan

Many New Jersey residents use trusts as part of their estate planning. The family home is usually the largest asset many people own, and is often the first item to go into the trust. This and other assets need to be properly placed into the trust in order to be sure that an individual's estate plan is carried out in accordance with his or her wishes.

Law Offices of Nancy M. Rice
Representing clients in Ocean City and communities throughout New Jersey.

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Rice & Quattrone, PC
1236 Brace Road, Suite F
CHERRY HILL, NJ 08034

Phone: 856-673-0048
Fax: 856-673-0052
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Rice & Quattrone, PC
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
Map & Directions

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