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ADDING VALUE TO YOUR CLIENT’S ESTATE PLAN PART 1

by Thomas D. Begley, Jr., CELA This is the first of a two-part series on adding value to your client’s estate plan. (Click here for Part 2) Lawyers assisting clients with their Estate Planning should consider providing services beyond the drafting of a Will, Advance Directive and Power of Attorney (POA). These additional services make the client’s…

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Financing Long-Term Care In New Jersey 2019

Statistics show that approximately 70% of the population age 65 or over will require some form of long-term care.  Some will be there for relatively short periods of time.  These are usually stroke or accident victims or surgery patients who are doing rehabilitation.  A significant percentage will remain in a nursing home for an extended…

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Understanding Estate Planning

By Thomas D. Begley, Jr. What Is Estate Planning? Estate planning is the process by which an individual defines his or her goals for passing assets to beneficiaries and chooses appropriate tools and strategies for achieving those goals.  The process begins with a careful analysis of one’s situation, objectives, and potential tax liability. Only after…

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Vacation Area Homes: Tax and Management Issues

By: Thomas D. Begley, Jr., Esquire, CELA CASE STUDY 1: VACATION HOME—NO ESTATE PLAN  Harry and Sally own a vacation home on a barrier island. They purchased the home many years ago for $50,000, and it is now worth $1 million. Harry and Sally have two children and five grandchildren. The children visit the vacation…

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