Many people in the United States are living longer. For example, half of the infants born in 2007 may live to the ripe old age of 104. However, this extended lifespan does not always translate to the financial means to pay for it, nor does it mean quality of life. It...
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Ridgewood Estate Planning Blog
Tips for gifting strategies for the elderly
On Behalf of The Manna Helmy Law Group | Aug 8, 2017 | Estate Planning
Elderly people need to have a proper estate planning strategy to ensure they leave all their belongings to the right people after death. However, many people fail to do this. A report from the American Association of Retired Persons shows that only four out of every...
How does New Jersey inheritance tax affect your estate?
On Behalf of The Manna Helmy Law Group | Jun 13, 2017 | Inheritance And Estate Tax
Estate planning consists of more than drafting a will, establishing a health-care directive and appointing a durable power of attorney. Unfortunately, it also entails considering how various state taxes will affect your estate, which can determine the plans you decide...
How can I protect my estate from capital gains taxes?
On Behalf of The Manna Helmy Law Group | Apr 18, 2017 | Inheritance And Estate Tax
When it comes to estate planning, the decisions you make can affect the amount of capital gains tax that is assessed to your estate. Capital gains taxes can affect your beneficiaries tax situation and diminish your estate's value. High-value estates are particularly...
What you need to know about protecting your assets as you age
On Behalf of The Manna Helmy Law Group | Feb 22, 2017 | Asset Protection
As more Americans reach retirement age and live further into the years beyond it, the issue of asset protection is becoming more important to a larger cross-section of the population. Once you are no longer working regularly, your savings, investments and other...
Do you need to add a living will to your estate planning?
On Behalf of The Manna Helmy Law Group | Jan 24, 2017 | Estate Planning
Understanding what makes your estate planning complete can be difficult, especially if this is your first time through the process. As you consider your options and put together your choices for wills, trusts, and other pieces of your larger estate planning picture,...
Understanding medical neglect in nursing homes
On Behalf of The Manna Helmy Law Group | Dec 29, 2016 | Medicaid Planning / Nursing Home Planning
If you have a loved one who is in a nursing facility, then you know how complex a life change it can be. What you might not realize is that due to the nature of the nursing care system and the current state of regulatory oversight, neglect can happen in ways that are...
What are the benefits of establishing a trust?
On Behalf of The Manna Helmy Law Group | Nov 3, 2016 | Trusts
For many people, inheritance taxes can impose a substantial burden during a time of grief where there is enough stress and change to navigate already. They can seriously impact one's ability to ensure that one's heirs and beneficiaries are well provided for, and they...
Potential federal rules could have major estate tax implications
On Behalf of The Manna Helmy Law Group | Sep 6, 2016 | Inheritance And Estate Tax
Last month the Treasury Department proposed rules that could dramatically impact estate tax planning. Specifically, the Treasury Department is planning to limit, or even eliminate, the use of "valuation discounts" for closely-held companies, LLCs and other assets. The...
Communication is key between elderly parents and their adult children
On Behalf of The Manna Helmy Law Group | Jul 15, 2016 | Estate Planning
When children are growing up, their parents play a critical role in their development. When parents are growing old, adult children are likely to play a crucial role in caring for their parents. This reversal of roles can be challenging, and will only be successful...