Monthly Archives: August 2024
How Do You Leave an IRA to Your Heirs in New Jersey
Do you have significant savings in an Individual Retirement Account (IRA)? You may have questions about how you leave these retirement savings to the benefit of a spouse, child, or other loved one. At Poulos LoPiccolo PC, we provide solutions-focused estate planning representation. Within this article, our Monmouth County estate planning lawyer highlights the… Read More »
Will You Have to Pay Taxes If You Inherit a Home from Your Parent in New Jersey?
For many people, real property makes up a significant share of their overall estate. According to data from Zillow, the average home in New Jersey reached a record high $522,643 in early 2024. Many people pass down their homes to their children. This raises an important question: Do you pay taxes on a home… Read More »
What is a Living Will?
A proper estate plan should be truly comprehensive. Indeed, estate planning is about far more than determining who will get to inherit what. It is about ensuring that the proper structure is in place to protect your rights and your interests—no matter what tomorrow might bring. A living will is an important estate planning… Read More »
Estate Planning for Blended Families in New Jersey
The American family is changing. The most recent data from the Pew Research Center shows that around half of U.S. families are “non-traditional” families. If you are part of any type of blended family, it is crucial that you take a proactive approach to estate planning. You need a plan that protects the specific… Read More »
Planning for Long-Term Care in New Jersey: How Does Medicaid’s “Spend Down” Requirement Work?
Long term care costs are almost unfathomably high. According to data from Caring.com, a private room in a nursing home costs an average of more than $11,000 per month in New Jersey. Medicaid is a government program that provides support for long-term care. However, it is a strictly means-tested program. You may be required… Read More »
Estate Planning: What is an Irrevocable Trust?
A trust can be an effective estate planning tool. When set up properly, trusts can offer a number of different benefits—from protecting assets to avoiding probate. An irrevocable trust is one type of trust. At Poulos LoPiccolo PC, we have deep experience with trust planning. Here, our New Jersey & New York estate planning… Read More »
