Areas Of Practice

ELDER LAW IN RED BANK, NEW JERSEY

PATRICIA A. BENNETT, ESQ. of Red Bank, New Jersey, offers personalized advice that ensures your wishes will be met. We help you take control of your legal matters. Contact us now at (732) 747-8646 to discuss your particular legal needs

ESTATE PLANNING

Estate planning is all about protecting your loved ones, which means in part giving them protection from the Internal Revenue Service (IRS). Essential to estate planning is transferring assets to heirs with an eye toward creating the smallest possible tax burden for them.

WILLS

A Will is a legal document which allows you to dispose of your property after death. If you do not make a Will, the State of New Jersey does it for you. In a Will, you can also name the person(s) you want to administer your estate and avoid a bonding fee. In preparing a Will it is necessary to determine who will receive your property after death and in what proportion, e.g., a specific bequest of an amount of money or a particular item to a person/persons or institution and designation of the distribution of the residue of your estate to a person/ persons or charity, usually identified by percentages to allow for fluctuations in the value and amount of property after death. In addition, you should know who you wish to administer your estate after death, i.e., the Personal Representa-tive or Executor, and usually allow for alternates in the event the individual or individuals named are not available or able to serve in such capacity. It is especially important for parents and grand-parents of minor children to provide for a trust to hold assets after death with an individual or individuals named as a Trustee(s). Also, it is imperative for parents to name a Guardian for children should they die before the children reach the age of eighteen (18). Again, there should always be primary individual(s) named and alternate(s) in the event he/she/they cannot or will not serve.

POWER OF ATTORNEY

A Power of Attorney is a legal document that allows you to name a person or persons to take care of your person and/or property while you are alive but unable to take care of those matters yourself because of physical or mental disability. It is only effective while the person is alive. In preparing a Power of Attorney it is necessary for you to provide the name and addresses of the persons you wish to name as your agent(s) or attorney(s)-in-fact and always provide an alternate or alternates to serve in such capacity should the individuals named be unable or unwilling to act on your behalf.

GERIATIC CARE MANAGER

Ms. Bennett also acts as the Attorney-in-Fact of many of her clients and as Personal Representative of their estates. In the capacity as Attorney-in-Fact. She handles personal and financial matters of elderly and disabled clients. She coordinates the personal care of her client's with doctors, nursing homes and caregivers to insure they are receiving the best care possible. She pays their bills and manages finances. When someone has no one else who can or will take on this responsibility, Ms. Bennett is willing to assume this responsibility.

LIVING WILL (ADVANCE DIRECTIVE)

This document allows a person "in advance" and before he or she is in a terminally ill condition, which necessitates the use of some type of life-support or artificial means, "to direct" that he/she does not want to be kept alive by such means. In preparing a living will (advance directive) it is necessary to provide the name, address and telephone number of the individual you wish to name as your Health Care Representative. This document can only designate one individual at a time to act on your behalf; however, you should provide names, addresses and telephone numbers of any alternate(s) who may act if the primary Health Care Representative is unable or unwilling to do so.

TRUST

This legal entity allows a person to set up a device whereby he or she can transfer his or her property into a form of holding company for a specific purpose. Most people use trusts to avoid probate after death. Trusts can be “living” which means they are made and operative while an individual is alive or “testamentary” which means they are included in a will to be operative after a person dies. In preparing a trust it is necessary to provide the name(s) and address(es) of the individual(s) you wish to act as the Trustee in charge of administering the provisions of the Trust. Again, you should always name alternate(s) in the event the first person(s) designated cannot or will not serve in that capacity. Living trusts are either revocable (meaning it can be changed at any time during a person's lifetime) or irrevocable (meaning it cannot be changed once it has been executed). Revocable trusts are used to hold real property and funds when an individual wants to remove them from his or her name, but still have control over the asset(s), and irrevocable trusts are used when an individual wants to remove the real property and funds completely from his or her name and control. Irrevocable trusts are used for Medicaid planning purposes. 

“Special Needs Trusts” are either living or testamentary trusts which provide for an individual who is receiving government assistance and cannot own assets over a particular amount to enjoy the benefits of his/her loved one's bounty without jeopardizing or losing that assistance. This type of trust allows for a loved one to provide money to be held by a Trustee and used for the “special needs” of the recipient during his/her lifetime and then passed on to other beneficiaries. It is an excellent way to protect and provide for a disabled loved one.

MEDICAID

At the law offices of Patricia A. Bennett, Esq., we also assist with Medicaid planning and Medicaid applications. We help from initial application to approval. We also handle all problems that might arise during the application process. Several documents must be provided to Social Services in order to qualify for Medicaid benefits, including but not limited to birth certificates, marriage certificates, death certificates, Medicare and insurance cards and documentation as to premium amounts paid, life insurance documentation should there be cash surrender values, deeds to real estate, titles to vehicles and documentation as to assets owned by the applicant and/or his/her spouse for sixty (60) months prior. As an attorney acting on behalf of an individual, the fees paid for this application are deductible from the funds allowable to be spent down in order for an individual to qualify for Medicaid; however, if a loved one performs this functions, he or she cannot charge such fees. Therefore, it is more economical and time-effective for an attorney to perform this function than for a relative or friend to use up so much of his/her time in such endeavor.
Contact our Elder Law Attorneys today to make sure you prevent someone else from making financial decisions for you and your loved ones.
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