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...
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Ridgewood Estate Planning Blog
Music icon’s death highlights the importance of estate planning
On Behalf of The Manna Helmy Law Group | May 16, 2016 | Estate Planning
The unexpected death of musician Prince stunned people across the United States and the world. Having sold more than one hundred million albums over his career and having completed many successful concert tours, Prince amassed a fortune estimated at many hundreds of...
Is relocation the answer to avoiding New Jersey estate and inheritance taxes?
On Behalf of The Manna Helmy Law Group | Mar 22, 2016 | Inheritance And Estate Tax
New Jersey is one of the only states to have both an estate tax and inheritance tax. Currently, New Jersey has an estate tax rate of up to 16% on assets more than $675,000. Furthermore, New Jersey has an inheritance tax of 16% that applies to people other than...
Is a Qualified Income Trust (QIT) right for you?
On Behalf of The Manna Helmy Law Group | Feb 12, 2016 | Medicaid Planning / Nursing Home Planning
One of the biggest concerns many people have about growing older is spending the assets they earned over a lifetime to pay for nursing home care. The cost of nursing home care is astronomical. According to the New Jersey Department of Human Services, the average daily...
Pets may be a concern of New Jersey owners during estate planning
On Behalf of The Manna Helmy Law Group | Jan 8, 2016 | Estate Planning
Many New Jersey residents often consider their pets as part of the family. Therefore, they may be concerned about the welfare of those pets in the event that the owners suffer from a situation in which they are not able to properly care for their pets. In some cases,...
Estate planning can put New Jersey families at ease
On Behalf of The Manna Helmy Law Group | Jan 6, 2016 | Estate Planning
For New Jersey residents who want to ensure that their families understand their end-of-life wishes, estate planning is an action to consider. By creating an estate plan, individuals can detail what actions should take place in the event of their incapacitation, who...
An unusual approach to estate tax planning
On Behalf of The Manna Helmy Law Group | Jan 3, 2016 | Inheritance And Estate Tax
Many New Jersey families are interested in ways to reduce their estate tax obligation. While there are a number of ways to reach that goal, some are more creative than others and can benefit multiple members of the same extended family. An example lies in a practice...
How to select beneficiaries while estate planning
On Behalf of The Manna Helmy Law Group | Jan 1, 2016 | Estate Planning
One of the primary purposes of an estate plan is to create a body of documents and vehicles to smoothly transfer wealth from one party to others after death. The concept is a simple one, but the construction of an estate planning package can be complex. One of the...
Including dementia risk within estate planning
On Behalf of The Manna Helmy Law Group | Dec 26, 2015 | Estate Planning
For many older people, concern over the possibility of dementia is a serious matter. Anyone who has cared for a loved one who suffers from dementia understands the difficulties involved. When a fully capable adult begins to lose his or her ability to function...
An estate planning gift that truly keep giving
On Behalf of The Manna Helmy Law Group | Dec 24, 2015 | Estate Planning
As the holidays come to a close, many New Jersey families are wondering if they gave their loved ones the best possible gifts, and if those gifts will be put to use in the coming year. One present that many may not have considered is the gift of estate planning...