A Self-Settled Special Needs Trust is a vehicle authorized by Congress under OBRA ’93. By utilizing this type of trust, a beneficiary can maintain eligibility for important public benefits, such as SSI and Medicaid, and enjoy the benefit of the personal injury settlement. In authorizing Self-Settled Special Needs Trusts, Congress imposed six conditions: • Assets of Individual. The trust must be funded with assets of the individual. The individual is the beneficiary of the trust. The personal injury settlement belongs to the individual and satisfies this requirement. • Under 65 Years of Age. The beneficiary must be under age 65. […]
On Thursday, June 23, 2011, Governor Chris Christie signed the bill to Establish a New Jersey Alzheimer’s Disease Study Commission (S125/A322). Initially introduced in June 2009, the bill creates a fifteen person commission that will review all aspects of the Alzheimer crisis and make recommendations to the Governor and Legislature on how to develop integrated and responsive community-based services, and ease the burden of the disease on persons with Alzheimer’s disease and their family members and caregivers through expanded support. This legislation is the first step in creating a comprehensive state plan to address the burgeoning numbers of those affected by […]
Upon a decedent’s passing, it is necessary for the executor named therein to analyze the amount and value as well as the types of assets making up the estate to determine if it shall be necessary to “probate” the decedent’s last will and testament. Probating such a document, and the corresponding qualification of the executor with the surrogate of the county in which the decedent resided or owned property at the time of death, authorizes the appointed individual to transfer assets as directed in the will to the beneficiaries included therein. However, for purposes of such an assessment of the […]
Filed under News.
Tags: elder law new jersey, new jersey elder law, new jersey elder law attorney, new jersey estate planning, new jersey estate planning attorney, new jersey estate planning lawyer, nj elder, nj estate planning, nj estate planning attorney
No Comments »