Seniors today are remaining spry, exceedingly physically fit, and overtly healthier than our predecessors of decades and centuries past. Although extended life expectancies
mean more time to make memories with family members and loved ones, they can also mean that your finances have the potential to expire before you do.
While you may have created an estate plan in your 30s or 40s, it is important to reevaluate the details and all components of that plan if/when you live so long that parts of your plan become null, void, irrelevant or outdated.
At Veitengruber Law, we can provide you with long-term planning guidance
for all stages of your life. Even if your current estate plan (Last Will and Testament) was drafted by someone other than our firm, we are more than happy to help you protect your assets.
Medicaid rules are numerous and complex. As you approach age 65 (or if you are currently receiving SSDI and are younger than age 65), we will make sure that you understand all of the rules and eligibility requirements.
Medicaid is associated with something called the "five-year look back period," which can often be confusing and problematic without the help of an experienced New Jersey asset protection attorney. Although we cannot predict the future (yet!), we do have extensive experience in all of the necessary legal areas that relate to the five-year look back period. These areas include: real estate law, foreclosure law, estate planning and credit repair.
You have undoubtedly worked for many years to support your family and to develop a savings/retirement plan that is very important to you. Whether or not your finances will be enough to support you with an extended life expectancy is something we can help you plan for.
As you age, you may need to address potential for long-term care. While this certainly isn't something that anyone wishes to contemplate, the necessity for nursing home care is a reality as you age. This need may double if your spouse is also still living. We will help you estimate your potential longevity based on your family history and your individual health history in order to come up with the best plan to protect your assets in the event that long-term care is in your future.
If your original estate plan was completed several decades ago, you may need to revisit the designee for executor of your estate
. It is possible that your original designee is no longer living, is in poor health, or is no longer part of your life due to divorce, relocation, death, or other circumstances.
In addition to reviewing your estate executor, we will help you to re-evaluate the beneficiaries named in your will. We will also help you assess all components of your estate plan (and determine if they need to be updated based on your current health and that of your spouse) including: your living will, advanced medical directive, power of attorney, your will and any trusts that you have set up.
To find out how we can protect your property and other assets from potential future events, sit down with our professional asset protection team
today for a free consultation.
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