(856) 439-6223New Jersey’s Baby Boomers have become the senior generation in the state. As this population grows, the need for legal guidance does as well. An attorney experienced with elder law often works with individuals who are dealing with legal issues tied to aging, health changes, and long-term planning. If you are older than 60, you may be realizing that you have new legal needs. End-of-life care, inheritances, and other concerns may be becoming more pressing.
Planning earlier rather than later can lower the possibility of confusion and conflict for family members. It can also give older adults more control over decisions that affect their healthcare, finances, and legacy. At Nesevich Law, we help anticipate problems before they arise and create documents that reflect your current wishes and circumstances.
If you are interested in legal assistance for older Americans, a local lawyer who is well-versed in your area of need could be of help. A New Jersey elder law attorney might be able to answer your questions about power of attorney, living wills and trusts, and other late-life legal actions.
Durable Power of Attorney in New Jersey
The durable power of attorney is like a standard power of attorney, in that it grants a trusted person the authority to act on the grantor’s behalf. A durable power of attorney, however, can last through the principal’s years of diminished capacity, rather than only after their death.
This is a critical legal document for many families, especially when an older adult can no longer manage their finances independently. A properly drafted durable power of attorney may help avoid court involvement, including guardianship proceedings, which can prove time-consuming and expensive. We create these documents, and work to ensure that the document complies with state law and reflects the grantor’s intentions.
Per the New Jersey General and Permanent Statutes 46:2B-8.3, acts performed by an attorney-in-fact can have the same effect during the principal’s period of diminished capacity as if the grantor were competent. A New Jersey elder law professional may be able to go over the details of a durable power of attorney and make a plan for the future.
This document allows several powers, such as:
- Managing bank accounts
- Paying ongoing bills
- Handling real estate matters
- Help with government benefit programs
It is important to choose a lawyer who handles elder law matters regularly, so they can explain the risks and protections associated with this option. At Nesevich Law, our attorney is experienced and could help you with your durable power of attorney.
Living Wills and Trusts
New Jersey residents of advanced age may want to ensure that their wishes are fulfilled about their healthcare and maintain control of their funds until they pass away. In these cases, an elder law attorney in New Jersey may recommend a living will or trust.
These tools are used for different purposes, yet they often work together as part of a comprehensive plan. Whether you could benefit from one or both of these legal tools depends on many factors and we can recommend one or both after reviewing your health, assets, and family dynamics.
Living Wills
A living will allows an individual to give advance directives for periods of hospitalization when they may not be able to speak for themselves. Some may indicate whether, or how long, a patient should be kept on life support, for example.
This document may also address pain management, artificial nutrition, and end-of-life measures. When there are no written instructions, family members may disagree about treatment decisions. Many people choose to have a living will so that loved ones are not put in the position of having to make difficult decisions without guidance. It is important that the instructions included are clear and legally valid so there are no disputes later on.
Living Trusts
A living trust might be appropriate for an individual who wants to protect their assets to support their own livelihood before giving them away to loved ones. With a living trust, they may add or remove assets as needed until death, meaning that they can spend all or none of the monies in the trust.
An example of how living trusts are used is to manage property during periods of declining health. They can also help to avoid probate, thus making asset transfer faster and more simple. If the concept of a living trust is new to you, we can explain how trust funding works and which of your assets may or may not belong in the trust.
This type of document may allow flexibility for older individuals who do not yet want to commit to a more lasting measure. It may also allow someone to switch to different estate planning product later if they wish. Having flexibility is often a priority for seniors whose financial needs may change for various reasons, such as healthcare costs or housing decisions.
During the lifetime of the grantor, a living trust may also be revoked, should a person change their mind about the named beneficiaries of the trust. A living trust may only become permanent after they are deceased.
Because revocable trusts can be changed, they are an attractive option for people who anticipate changes in family relationships or financial priorities. Our lawyer can draft these documents, helping to ensure that all amendments are properly executed and enforceable. We can also update or revise trust documents if circumstances change.
Meet with a New Jersey Elder Care Lawyer
If you or someone you love is beginning to prepare for their financial or healthcare future, a New Jersey elder law attorney might be able to help. Older adults often face legal concerns as they age, including plans for long-term care, asset protection, and decisions about healthcare and end of life care. Addressing these matters with a knowledgeable attorney may give you peace of mind about later stages of life and help you maintain control over your decision-making and assets. Contact a local New Jersey lawyer to discuss your estate planning needs. An adept attorney could assist clients with a living will, advanced directives, or other provisions for late-life healthcare.
Nesevich Law provides clients with advice and legal services after listening to your individual goals and needs. We help our clients prepare for aging with dignity and legal protection in place.
