Will/Trust Inheritance Contests-New articles, ABA newsletters and Community events

Will/Trust Inheritance Contests

Will/Trust Inheritance Contests If you have evidence a Will was not prepared properly, the signer was incompetent, there was undue influence, you may be able to prevent the filing of the Will in probate if you immediately hire an attorney to file a Caveat to the Will. A. Caveat Is a formal notice by someone to prevent the proving of a Will or the grant of administration of an Estate. The following is one of the NJ Court Rules dealing with a Caveat to Will RULE 4:82. MATTERS IN WHICH THE SURROGATES COURT MAY NOT ACT Unless specifically authorized by order or judgment of the Superior Court, and then only in accordance with such order or judgment, the Surrogates Court shall not act in any matter in which (1) a caveat has been filed with it before the entry of its judgment; (2) a doubt arises on the face of a will or a will has been lost or destroyed; (3) the application is to admit to probate a writing intended as a will as defined by N.J.S.A. 3B:3-2(b) or N.J.S.A. 3B:3-3; (4) the application is to appoint an administrator pendente lite or other limited administrator; (5) a dispute arises before the Surrogates Court as to any matter; or (6) the Surrogate certifies the case to be of doubt or difficulty. If there is no dispute on the validity of the Will, sometimes the Executor does not do their job and you want to have the Executor removed and replaced. Under New Jersey Law, the person selected as an executor of a Will have numerous legal responsibilities following the death of the person who signed the Will. Primarily, they have a duty to probate the Will, liquidate assets, pay bills and taxes, file all necessary court and tax returns, and then distribute the assets to beneficiaries Unfortunately, the Executor occasionally fails to timely carry out their duties. They may fail to timely file tax returns, fail to keep records, misappropriate assets or ignore instructions under the Will. In this case the Executor Mary Kampa has failed to comply with the Duties of Executor in Probate & Estate Administration to: 1. Conduct a thorough search of the decedents personal papers and effects for any evidence which might point them in the direction of a potential asset, namely mineral rights; 2. Keep records of expenses 3. Timely Sell real estate 4 Timely File required inheritance tax returns and provide a copy to Kim Rennie Under United States Supreme Court Case, Tulsa Professional Collection Services, Inc., v. Joanne Pope, Executrix of the Estate of H. Everett Pope, Jr., Deceased, the Personal Representative in every estate is personally responsible to provide actual notice to all known or "readily ascertainable" creditors of the decedent. It is unclear if the executor has fulfilled the responsibility to diligently search for any "readily ascertainable" creditors. It is unclear if the executor timely preformed the below duties: Apply to Federal Tax ID # Set up Estate Account at bank (pay all bills from estate account) Pay Bills Notice of Probate to Beneficiaries File notice of Probate with Surrogate File first Federal and State Income Tax Prepare Inheritance Tax Return and obtain Tax Waivers File waivers within 8 months upon receipt Prepares a accurate Informal Accounting In General. The executors job is to (1) administer the estate--i.e., collect and manage assets, file tax returns and pay taxes and debts--and (2) distribute any assets or make any distributions of bequests, whether personal or charitable in nature, as the deceased directed (under the provisions of the Will Do you think youre entitled to money or might be entitled to money from an estate or trust? Do you believe that someone is unfairly claiming money or property that is rightfully yours? If so, and you are a prospective plaintiff or defendant, then you may need an attorney to protect your rights. These areas are extremely complex, and you should not attempt to reach a decision on whether or not to take action (and, if so what action to take) without the assistance of counsel.

Estate Planning Interview Form-New articles, ABA newsletters and Community events

Estate Planning Interview Form

Please fill out completely and fax or mail back. This form is extremely important. Your accuracy and completeness in responding will help me best represent you. ALL THE PAGES AND SECTIONS OF THIS FORM MUST BE COMPLETED PRIOR TO SEEING THE ATTORNEY. WRITE YOUR SPECIFIC QUESTIONS AT THE END OF THE LAST PAGE. PLEASE HELP YOURSELF TO THE FREE INFORMATION BROCHURES IN THE RECEPTION AREA. PLEASE PRINT CLEARLY Your Full Name: [Person Filling out Form] ______________________________________________________ First Last Street Address: ________________________________________ City ____________________ State ____ Zip Code _____________ Telephone Numbers: Cell: __________________________________ Day: ____________________ /Night: ________________________ E-mail address: __________________________________________ Referred By: ___________________________________________ Todays Date ___________________________________________ 1. Name of person planning for if other than person filling out this interview sheet: ____________________________________________________________ 2. Current address and phone for person whom Estate Planning is sought: ____________________________________________________________ ____________________________________________________________ 3. Relationship of person filling out this interview sheet: ____________________________________________________________ 4. Special medical or financial needs of person, spouse and dependents: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ASSETS 5. Stocks, bonds and other securities. How Registered. Approximate Amount of Each. (Joint - Survivorship - P.O.D. - Trust - Custodial) ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 6. Real Estate: Location and General Description - Record Owners - How and When Acquired Estimated Value - Mortgages, Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 7. Insurance policies, pensions, retirement and death benefits: (Identification and beneficiary) COMPANY AMOUNT OF POLICY BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 8. Bank and Savings & Loan Association Accounts: Savings - Time Cert. - Checking - other. How registered (Joint, Survivorship, Trust, Custodial) BANK APPROXIMATE AMOUNT BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 9. Major Personal Effects: Including Furs, Jewelry, Art, Cash on Hand and other items of Substantial Value and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 10. Other Investments: Nature and in What Names(s) Held and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 11. Safe Deposit Box: Location and How Registered: ____________________________________________________________ ___________________________________________________________ 12. Liabilities More Than $2,000.00: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 13. Estimated Gross Estate: $_________________________________________________________ 14. A. Is there a Will? _____ Did you bring a photocopy? ____ B. Is there a Power of Attorney? _____ Did you bring a copy? ____ C. Do You Have a Copy of the Deed? ________ D. Did You have/ bring a List of Assets. 15. PLEASE USE THIS PAGE TO WRITE YOUR SPECIFIC QUESTIONS FOR THE ATTORNEY: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ESTATE PLANNING The estate may be subject to Federal Estate Taxation if the total of assets exceeds $200,000. If the assets exceed $2,000,000 and you desire estate planning to avoid or reduce your estate tax or require a Trust to protect a spouse, please advise Mr. Vercammen. A Standard Will is not designed to address estate tax issues. We do not do Tax Planning or Medicaid Planning.

Estate Planning Ideas for Single, Unmarried Parents-New articles, ABA newsletters and Community events

Estate Planning Ideas for Single, Unmarried Parents

by Kenneth A. Vercammen, Esq. There may come a time when a parent is unable, due to physical or mental incapacity, to take care of his/her minor children. If a parent dies, the minor children will need a guardian. In these circumstances, those caring for the children, as well as the courts will need direction. By writing and executing a Will, which includes instructions on guardianship one may select someone, either individually or jointly, with the legal authority to act for minor children and assume control over the assets of the children. Estate planning, which includes the execution of a Will, is just as important for young families with minor children as they are for senior citizens. As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all our resources and the assets we earn during our lifetime, the vast majority of Americans do not take the time to create the legal instructions to guide the court or a guardian upon their death. National statistics indicate that more than 50% of Americans die without leaving a will. In the absence of a will or other legal arrangement to distribute property at death, the State must step in to administer the estate and decide who gets custody of your children and handles your money. This process is called the law of intestacy. The result can be lengthy delays in the distribution of your estate, court battles between relatives and your children being raised by someone you do not favor. Without a Will, your family will have to pay substantial costs for accountants, attorneys, bonding companies and probate fees. In planning, make sure your assets go to your loved ones or favorite charity, not an ex. Therefore, you may wish to do the following: 1) Have an Elder Law attorney prepare a Will to distribute your assets to the people you care about the most. If you already have a Will, prepare a new Will and have the old Will revoked. (Your estate planning attorney will explain this to you.) 2) Prepare a power of attorney to select someone to handle your finances if you become disabled. Have your old power of attorney revoked. 3) Select the correct beneficiary on assets you may own, such as stocks, bank accounts, IRA, and other financial assets. 4) Change your beneficiary under your own life insurance, whether whole life insurance or term insurance. 5) Contact your employer's human resources and change the beneficiary on life insurance, pension, stock options or other employee benefits. Note that if you are not yet divorced, your spouse may have to sign a written waiver permitting you to change beneficiaries. 6) If you are not yet divorced, keep your personal papers at a location where an ex-spouse or the child's parent can't destroy them. 7) If you have minor children, nominate someone under a Will to serve as guardian to the children. Although the surviving parent obviously has first right of custody of children, they may not even want custody. 8) Make sure the trustee for any funds designated for your children is the right trustee. 9) Have your attorney prepare a prenuptial agreement, if you decide to get married. 10) In New Jersey, if you are married and living with a spouse, under certain instances the surviving spouse has a right to elect against the will. The disinherited spouse may like to elect against the Will and try to obtain one third of the estate. Your attorney can explain how you can protect yourself and your children. ESTATE PLANNING TO PROTECT YOUR CHILDREN IF YOU HAVE NO WILL (LEGALLY REFERRED TO AS INTESTATE SECESSION): If you leave no Will or your Will is declared invalid, because it was improperly prepared or is not admissible to probate: * State law determines who gets assets, not you * Additional expenses will be incurred by your heirs and extra work will be required by the heirs of their attorney to qualify an administrator * The Judge determines who gets custody of your children * Possible additional State inheritance taxes and Federal estate taxes * If you have no spouse or relatives, the State may take your property * The procedure to distribute assets becomes more complicated, and the law makes no exceptions for persons in unusual need or for your own wishes. * It may also cause fights and lawsuits within your family When loved ones are grieving and dealing with death, they shouldn't be overwhelmed with financial concerns. Careful estate planning helps take care of that. Guardians Most individuals appoint their spouse to act as Guardian of the person and property of their minor children. It is suggested that your Will include a clause which provides that in the event your spouse predeceases you, or is unsuitable or ceases to act as Guardian of the person and property of your minor children, you appoint a trusted family member or close friend to act as successor Guardian of the person and property of your minor children. Trustee Select a trusted person, a close relative or friends, who will invest and hold your children's money. In your Will you can instruct the Trustee to apply amounts of income and principal as they, in their sole discretion, deem proper for the health, maintenance, education, welfare, or support of your children or other minors. Direct that the trustee shall accumulate any income not needed for the above purposes, paying and transferring the portion held in trust to the beneficiary upon his or her attaining the age of majority or whichever age you select. Children born after you sign the Will Many people direct that the provisions of their Will also applies to afterborn children. Accordingly, if you have any additional children subsequent to the execution of this Will, then wherever you have designated only your named children, you intend that all of your children shall share equally in the relevant provisions of your Will. In addition to having a formal Last Will and Testament individuals are encouraged to have a Power of Attorney and also Living Will. Moreover, we also recommend they plan ahead and write messages to their family and anticipated executor detailing their specific desires regarding funeral and burial. Written instructions to your family and executor containing information and guidance will minimize uncertainty, confusion, and possible oversights following your death. Conclusion While the preceding article contains possible items to be discussed with your family, attorney and executor, the article is by no means exhaustive. A number of these items may not be applicable in your situation, and probably there are many others that are applicable. The essential element is to spend some time now considering what you should tell those most closely associated with you to facilitate their handling of your affairs upon your death.

Estate Planning for Parkinson Patients and Guardianship of Disabled Adults-New articles, ABA newsletters and Community events

Estate Planning for Parkinson Patients and Guardianship of Disabled Adults

Compiled by Kenneth Vercammen, Past Vice-Chair, ABA Elder Law Committee, GP Section If a person has been diagnosed with Parkinsons disease, it is important to immediately conduct Estate Planning with the assistance of an attorney. Many Americans are thought to have Parkinsons disease - yet half of them remain undiagnosed. Its all too easy to mistake many early Parkinsons disease symptoms for natural signs of aging. Symptoms can also vary widely among individuals. Recognizing and treating Parkinsons disease early is vital. Early diagnosis of Parkinsons disease is important because that is when the most can be done to slow the progression of symptoms. Early treatment can have a significant effect on maintaining a patients current level of ability. Find help for yourself. Many people concerned about Parkinsons disease discover that they need additional answers. Your doctor is your primary source of information about Parkinsons disease. If a person has been diagnosed with Parkinsons disease, and is still mentally competent, a formal Power of Attorney, Will and Living Will should be prepared immediately. Generally, many attorneys will require: 1. A note from the Doctor indicating the person is competent to sign a Power of Attorney. [and Will if the Will has not yet been prepared] 2. The client to specifically advise the attorney they want to appoint the specific person to handle their financial affairs. [The attorney cannot rely on a family member saying what the client/ patient wants] Prior to an individual being unable to manage his or her life as a result of a mental or physical disability, legal planning should be done. If a legally prepared Power of Attorney was signed, a trusted family member, friend or professional can legally act on that persons affairs. If a Power of Attorney was not signed, an attorney may be retained to file a formal complaint and other legal pleadings in the Superior Court to permit the trusted family member, friend or professional to be able to handle financial affairs. What is a Power of Attorney? A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principals behalf. In general, an attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him/herself. Therefore, the doctor often must determine if the recently diagnosed Parkinson patient is competent to sign a Power of Attorney. The term "durable" in reference to a Power of Attorney means that the power remains in force for the lifetime of the principal, even if he/she becomes mentally incapacitated. A principal may cancel a Power of Attorney at any time for any reason. Powers granted on a Power of Attorney document can be very broad or very narrow in accordance with the needs of the principal. Why is Power of Attorney so important? Every adult has day-to-day affairs to manage, such as paying the bills. Many people are under the impression that, in the event of catastrophic illness or injury, a spouse or child can automatically act for them. Unfortunately, this is often wrong, even when joint ownership situations exist. The lack of properly prepared and executed Power of Attorney can cause extreme difficulties when an individual is stricken with severe illness or injury rendering him/her unable to make decisions or manage financial and medical affairs. New Jersey has legal procedures, guardianships or conservatorships, to provide for appointment of a Guardian. These require formal proceedings and are expensive in court. This means requirement of lawyers to prepare and file the necessary papers and doctors to provide medical certifications or testimony regarding the mental incapacity of the subject of the action. The procedures also require the involvement of a temporary guardian to investigate, even intercede, in surrogate proceedings. This can be slow, costly, and very frustrating. Advance preparation of the Power of Attorney can avoid the inconvenience and expense of legal Guardianship proceedings. This needs to be done while the principal is competent, alert and aware of the consequences of his/her decision. Once a serious problem occurs, it is too late. Powers of Attorney are generally given by one person to another so that if the grantor of the power becomes ill or incapacitated, the Power of Attorney will permit the holder of it to pay the grantors bills and to handle the grantors affairs during the inability of the grantor to do the same. Without a legal Power of Attorney or court ordered guardianship, even a spouse does not have the legal authority to sign their spouses signature. If a valid Power of Attorney is not legally prepared, signed and acknowledged in front of an attorney or notary, it is invalid. Without a Power of Attorney, a Guardianship Order and Judgment must be obtained from the Superior Court to permit complete legal decision making. According to Disability Law, A Legal Primer published by the New Jersey State Bar Association, "A guardian is a person appointed by a court to make financial and personal decisions for a person proven to be a legally incompetent/ incapacitated person." p11 1. When is a guardian needed? A guardian is needed when an individual can not manage his or her life as a result of a mental or physical disability, alcohol or drug addiction. The person for whom a guardian is appointed is called a "ward". Disability Law at p11 Legislation (P.L. 1997, c 379) changed the designation of "mental incompetent" to "incapacitated person" in all laws, rules, regulations and documents. New Jersey Lawyer March 23, 1998 2. What rights does a incompetent/ incapacitated person lose? Unless a Court orders otherwise, a ward/ incompetent/ incapacitated person does not have the right to decide where to live, spend money, use property, appear in Court or undergo medical treatment without the approval of his or her guardian. An unmarried incompetent/ incapacitated person also loses the right to marry. 3. How does somebody become the guardian of another? Guardians are appointed by Courts after the person in need of guardianship is proven incompetent. Guardianship actions can be brought under the general incompetency statute (N.J.S.A. 3B:12-25 et seq.) or under the statute dealing with people who receive services from the State Division of Developmental Disabilities. N.J.S.A.. 30:4-165.4 et seq. Guardians who are married to the incompetent/ incapacitated person or are parents of an unmarried incompetent/ incapacitated person can choose who will become the guardian after the guardians die and include a clause designating their successor in their Wills. Disability Laws p12. Under the general incompetency statute, a Complaint requesting Guardianship must be filed in the Superior Court, plus a detailed Affidavit by the person requesting to be Guardian detailing the assets of the incompetent/ incapacitated person plus reasons why the incompetent/ incapacitated person is no longer able to manage their affairs. Affidavits of two doctors are also needed. The Court will appoint a temporary attorney to interview the incompetent/ incapacitated person and prepare a report to the Court. The court costs and legal fees often exceeds $4,000. 4. Who can be a guardian? Generally, a close relative or a person with a close relationship to the proposed incompetent/ incapacitated person who will act to protect the incompetent/ incapacitated persons best interests can be guardian. When a close friend or relative is not available, the Court may appoint the Public Guardian (for persons over 60) or an Attorney to serve as guardian. 5. What are the rights of the proposed incompetent/ incapacitated person prior to hearing? The proposed incompetent/ incapacitated person is entitled to receive advance notice of the guardianship hearing, to be represented by a lawyer and to present a defense at the hearing. 6. Is court approval required to sell real estate if someone is declared incompetent/ incapacitated? Yes. Your attorney can discuss transferring certain assets to qualify for Medicaid.

Estate Planning for Stroke Victims and Guardianship of Disabled Adults-New articles, ABA newsletters and Community events

Estate Planning for Stroke Victims and Guardianship of Disabled Adults

Compiled by Kenneth Vercammen, Past Vice-Chair, American Bar Association Elder Law Committee, GP Section If someone suffers a stroke, but is competent, it is recommended that a Power of Attorney be prepared by an attorney to permit a family member to help the stroke patient by paying bills and handling finances. Generally, many attorneys will require: 1. A note from the Doctor indicating the person is competent to sign a Power of Attorney [and Will if the Will has not yet been prepared]. 2. The client [stroke victim, not a family member] to specifically advise the attorney the specific person they want to appoint to handle their financial affairs. [The attorney cannot rely on a family member saying what the client/ patient wants.] Prior to an individual being unable to manage his or her life as a result of a mental or physical disability, legal planning should be done. If a legally prepared Power of Attorney was signed, a trusted family member, friend or professional can legally act on that persons affairs. If a Power of Attorney was not signed, we will only prepare a Power of Attorney for a "competent person". If, after a stroke, the person is not competent, an attorney may be retained to file a formal complaint and other legal pleadings in the Superior Court to permit the trusted family member, friend, or professional to handle financial affairs. This is called a Guardianship. ANNOUNCING HOME & HOSPITAL VISITS IN ELDER LAW CASES A new service from our office is the availability of Home and Hospital visits. Timely advice and planning is important. Often people cannot travel to our office to sign Wills, Powers of Attorney, Living Wills, and other legal documents. We can help by traveling to homes, hospitals, senior centers, retirement villages, and nursing homes. For people under doctors care, we require a note from the doctor be obtained indicating that the person is competent to sign these documents, to ensure that the persons wishes are less likely to be contested in the future. The minimum fee for a hospital or home visit is $500 in Middlesex County. What is a Power of Attorney? A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principals behalf. In general, an attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him/herself. Therefore, the doctor often must determine if the stroke patient is competent to sign a Power of Attorney. The term "durable" in reference to a Power of Attorney means that the power remains in force for the lifetime of the principal, even if he/she becomes mentally incapacitated. A principal may cancel a Power of Attorney at any time for any reason. Powers granted on a Power of Attorney document can be very broad or very narrow in accordance with the needs of the principal. Why is Power of Attorney so important? Every adult has day-to-day affairs to manage, such as paying the bills. Many people are under the impression that in the event of catastrophic illness or injury, a spouse or child can automatically act for them. Unfortunately, this is often wrong, even when joint ownership situations exist. The lack of a properly prepared and executed Power of Attorney can cause extreme difficulties when an individual is stricken with severe illness or injury rendering him/her unable to make decisions or manage financial and medical affairs. New Jersey has legal procedures, guardianships, or conservatorships, to provide for appointment of a Guardian. These require formal proceedings and are expensive in court. This means the requirement of lawyers to prepare and file the necessary papers and doctors to provide medical certifications or testimony regarding the mental incapacity of the subject of the action. The procedures also require the involvement of a temporary guardian to investigate, and even intercede, in surrogate proceedings. This can be slow, costly, and very frustrating. Advance preparation of the Power of Attorney can avoid the inconvenience and expense of legal Guardianship proceedings. This needs to be done while the principal is competent, alert, and aware of the consequences of his/her decision. Once a serious problem occurs, it is too late. Powers of Attorney are generally given by one person to another so that if the granter of the power becomes ill or incapacitated, the Power of Attorney will permit the holder to pay the grantors bills and to handle the grantors affairs during the inability of the grantor to do the same. Without a legal Power of Attorney or court ordered guardianship, even a spouse does not have the legal authority to sign their spouses signature. If a valid Power of Attorney is not legally prepared, signed and acknowledged in front of an attorney or notary, it is invalid. Without a Power of Attorney, a Guardianship Order and Judgment must be obtained from the Superior Court to permit complete legal decision making. According to Disability Law, A Legal Primer published by the New Jersey State Bar Association, "A guardian is a person appointed by a court to make financial and personal decisions for a person proven to be a legally incompetent/ incapacitated person." p11 1. When is a guardian needed? A guardian is needed when an individual can not manage his or her life as a result of a mental or physical disability, alcohol or drug addiction. The person for whom a guardian is appointed is called a "ward". Disability Law at p11. Legislation (P.L. 1997, c 379) changed the designation of "mental incompetent" to "incapacitated person" in all laws, rules, regulations and documents. New Jersey Lawyer March 23, 1998 2. What rights does a incompetent/ incapacitated person lose? Unless a Court orders otherwise, a ward/ incompetent/ incapacitated person does not have the right to decide where to live, spend money, use property, appear in Court, or undergo medical treatment without the approval of his or her guardian. An unmarried incompetent/ incapacitated person also loses the right to marry. 3. How does somebody become the guardian of another? Guardians are appointed by Courts after the person in need of guardianship is proven incompetent. Guardianship actions can be brought under the general incompetency statute (N.J.S.A. 3B:12-25 et seq.) or under the statute dealing with people who receive services from the State Division of Developmental Disabilities. N.J.S.A.. 30:4-165.4 et seq. Guardians who are married to the incompetent/incapacitated person or are parents of an unmarried incompetent/incapacitated person can choose who will become the guardian after the guardians die and include a clause designating their successor in their Wills. Disability Laws p12. Under the general incompetency statute, a Complaint requesting Guardianship must be filed in the Superior Court, along with a detailed Affidavit by the person requesting to be Guardian detailing the assets of the incompetent/ incapacitated person, and the reasons why the incompetent/incapacitated person is no longer able to manage their affairs. Affidavits of two doctors are also needed. The Court will appoint a temporary attorney to interview the incompetent/incapacitated person and prepare a report to the Court. The court costs and legal fees often exceeds $4,000. 4. Who can be a guardian? Generally, a close relative or a person with a close relationship to the proposed incompetent/incapacitated person who will act to protect the incompetent/incapacitated persons best interests can be guardian. When a close friend or relative is not available, the Court may appoint the Public Guardian (for persons over 60) or an Attorney to serve as guardian. 5. What are the rights of the proposed incompetent/ incapacitated person prior to hearing? The proposed incompetent/incapacitated person is entitled to receive advance notice of the guardianship hearing, to be represented by a lawyer, and to present a defense at the hearing. 6. Is court approval required to sell real estate if someone is declared incompetent/incapacitated? Yes. Your attorney can discuss transferring certain assets to qualify for Medicaid. Elder law articles are available on the website www.kennethvercammen.com

Estate Planning for Multiple Sclerosis Patients and Guardianship of Disabled Adults-New articles, ABA newsletters and Community events

Estate Planning for Multiple Sclerosis Patients and Guardianship of Disabled Adults

Compiled by Kenneth Vercammen, Past Vice-Chair, ABA Elder Law Committee, GP Section If a person has been diagnosed with Multiple Sclerosis (MS), it is important to immediately conduct Estate Planning with the assistance of an attorney. Many Americans are thought to have Multiple Sclerosis - yet half of them remain undiagnosed. It's all too easy to mistake many early Multiple Sclerosis symptoms for natural signs of aging. Symptoms can also vary widely among individuals. Recognizing and treating Multiple Sclerosis early is vital. Early diagnosis of Multiple Sclerosis is important because that is when the most can be done to slow the progression of symptoms. Early treatment can have a significant effect on maintaining a patient's current level of ability. Find help for yourself. Many people concerned about Multiple Sclerosis discover that they need additional answers. Your doctor is your primary source of information about Multiple Sclerosis. If a person has been diagnosed with Multiple Sclerosis, and is still mentally competent, a formal Power of Attorney, Will and Living Will should be prepared immediately. Generally, many attorneys will require: 1. A note from the Doctor indicating the person is competent to sign a Power of Attorney. [and Will if the Will has not yet been prepared] 2. The client to specifically advise the attorney they want to appoint the specific person to handle their financial affairs. [The attorney cannot rely on a family member saying what the client/ patient wants] Prior to an individual being unable to manage his or her life as a result of a mental or physical disability, legal planning should be done. If a legally prepared Power of Attorney was signed, a trusted family member, friend or professional can legally act on that person's affairs. If a Power of Attorney was not signed, an attorney may be retained to file a formal complaint and other legal pleadings in the Superior Court to permit the trusted family member, friend or professional to be able to handle financial affairs. What is a Power of Attorney? A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principal's behalf. In general, an attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him/herself. Therefore, the doctor often must determine if the recently diagnosed Multiple Sclerosis patient is competent to sign a Power of Attorney. The term "durable" in reference to a Power of Attorney means that the power remains in force for the lifetime of the principal, even if he/she becomes mentally incapacitated. A principal may cancel a Power of Attorney at any time for any reason. Powers granted on a Power of Attorney document can be very broad or very narrow in accordance with the needs of the principal. Why is Power of Attorney so important? Every adult has day-to-day affairs to manage, such as paying the bills. Many people are under the impression that, in the event of catastrophic illness or injury, a spouse or child can automatically act for them. Unfortunately, this is often wrong, even when joint ownership situations exist. The lack of properly prepared and executed Power of Attorney can cause extreme difficulties when an individual is stricken with severe illness or injury rendering him/her unable to make decisions or manage financial and medical affairs. New Jersey has legal procedures, guardianships or conservatorships, to provide for appointment of a Guardian. These require formal proceedings and are expensive in court. This means requirement of lawyers to prepare and file the necessary papers and doctors to provide medical certifications or testimony regarding the mental incapacity of the subject of the action. The procedures also require the involvement of a temporary guardian to investigate, even intercede, in surrogate proceedings. This can be slow, costly, and very frustrating. Advance preparation of the Power of Attorney can avoid the inconvenience and expense of legal Guardianship proceedings. This needs to be done while the principal is competent, alert and aware of the consequences of his/her decision. Once a serious problem occurs, it is too late. Powers of Attorney are generally given by one person to another so that if the grantor of the power becomes ill or incapacitated, the Power of Attorney will permit the holder of it to pay the grantor's bills and to handle the grantor's affairs during the inability of the grantor to do the same. Without a legal Power of Attorney or court ordered guardianship, even a spouse does not have the legal authority to sign their spouse's signature. If a valid Power of Attorney is not legally prepared, signed and acknowledged in front of an attorney or notary, it is invalid. Without a Power of Attorney, a Guardianship Order and Judgment must be obtained from the Superior Court to permit complete legal decision making. According to Disability Law, A Legal Primer published by the New Jersey State Bar Association, "A guardian is a person appointed by a court to make financial and personal decisions for a person proven to be a legally incompetent/ incapacitated person." p11 1. When is a guardian needed? A guardian is needed when an individual can not manage his or her life as a result of a mental or physical disability, alcohol or drug addiction. The person for whom a guardian is appointed is called a "ward". Disability Law at p11 Legislation (P.L. 1997, c 379) changed the designation of "mental incompetent" to "incapacitated person" in all laws, rules, regulations and documents. New Jersey Lawyer March 23, 1998 2. What rights does a incompetent/ incapacitated person lose? Unless a Court orders otherwise, a ward/ incompetent/ incapacitated person does not have the right to decide where to live, spend money, use property, appear in Court or undergo medical treatment without the approval of his or her guardian. An unmarried incompetent/ incapacitated person also loses the right to marry. 3. How does somebody become the guardian of another? Guardians are appointed by Courts after the person in need of guardianship is proven incompetent. Guardianship actions can be brought under the general incompetency statute (N.J.S.A. 3B:12-25 et seq.) or under the statute dealing with people who receive services from the State Division of Developmental Disabilities. N.J.S.A.. 30:4-165.4 et seq. Guardians who are married to the incompetent/ incapacitated person or are parents of an unmarried incompetent/ incapacitated person can choose who will become the guardian after the guardians die and include a clause designating their successor in their Wills. Disability Laws p12. Under the general incompetency statute, a Complaint requesting Guardianship must be filed in the Superior Court, plus a detailed Affidavit by the person requesting to be Guardian detailing the assets of the incompetent/ incapacitated person plus reasons why the incompetent/ incapacitated person is no longer able to manage their affairs. Affidavits of two doctors are also needed. The Court will appoint a temporary attorney to interview the incompetent/ incapacitated person and prepare a report to the Court. The court costs and legal fees often exceeds $4,000. 4. Who can be a guardian? Generally, a close relative or a person with a close relationship to the proposed incompetent/ incapacitated person who will act to protect the incompetent/ incapacitated person's best interests can be guardian. When a close friend or relative is not available, the Court may appoint the Public Guardian (for persons over 60) or an Attorney to serve as guardian. 5. What are the rights of the proposed incompetent/ incapacitated person prior to hearing? The proposed incompetent/ incapacitated person is entitled to receive advance notice of the guardianship hearing, to be represented by a lawyer and to present a defense at the hearing. 6. Is court approval required to sell real estate if someone is declared incompetent/ incapacitated? Yes. Your attorney can discuss transferring certain assets to qualify for Medicaid.

Estate Planning for Gay and Lesbian Couples Who Have Not Registered as Domestic Partners - New articles, ABA newsletters and Community events

Estate Planning for Gay and Lesbian Couples Who Have Not Registered as Domestic Partners - Save Money and Provide for Your Loved Ones

By Kenneth A. Vercammen (c) 2005 As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all the resources and assets we earn, the vast majority of us do not take the time to create a Will. National statistics indicate that 80% of Americans die without leaving a will. There are several reasons for this: fear of death; procrastination; and misinformation (people presume that only the rich or married with children need to have wills). Whatever the excuse, it is clear that people would benefit from having a Will. In the absence of a Will or other legal arrangement to distribute property at death, your partner cannot receive any assets and cannot administer your estate. The result can be lengthy delays and other problems. Individuals in gay or lesbian relationships need properly drafted Wills and estate planning documents more than straight persons. The probate laws generally provide if a person dies without a Will, their property goes to family, rather than a partner they had a relationship with for years or decades. IF YOU HAVE NO WILL: If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probate: * State law determines who gets assets, not you * Additional expenses will be incurred and extra work will be required to qualify an administrator * Possible additional State inheritance taxes and Federal estate taxes * If you have no spouse or close relatives the State may take your property * The procedure to distribute assets becomes more complicated-and the law makes no exceptions for persons in unusual need or for your own wishes. * It may also cause fights and lawsuits between your partner and your family When your loved ones are grieving and dealing with death, they shouldn¹t be overwhelmed with disputes over property and Financial concerns. Careful estate planning helps take care of that. THE FOLLOWING IS A SAMPLE OF A VARIETY OF CLAUSES AND ITEMS WHICH SHOULD BE INCLUDED IN A WILL FOR UNMARRIED PERSON: 1ST: DEBTS AND TAXES 2ND: SPECIFIC BEQUESTS TO PARTNER, CHARITY, ETC 3RD: DISPOSITION TO PARTNER 4TH: DISPOSITION OF REMAINDER OF ESTATE IF PARTNER IS PREDECEASED 5TH: CREATION OF TRUSTS FOR PARTNER 6TH: DISTRIBUTION TO CHILDREN OR TRUST FOR CHILDREN 7TH: OTHER BENEFICIARIES UNDER 21 8TH: EXECUTORS 9TH: TRUSTEES 10TH: GUARDIANS OF CHILDREN 11TH: NO SURETY OR BOND REQUIRED 12TH: POWERS 13TH: SELF PROVING WILL 14TH: PRINCIPAL AND INCOME 15TH: NO ASSIGNMENT OF BEQUESTS 16TH: GENDER 17TH: CONSTRUCTION OF WILL 18TH: NO CONTEST CLAUSE A Will must not only be prepared within the legal requirements of the New Jersey Statutes but should also be prepared so it leaves no questions regarding your intentions. WHY PERIODIC REVIEW IS ESSENTIAL Even if you have an existing Will, there are many events that occur which may necessitate changes in your Will. Some of these are: * Domestic Partnership, Marriage, death, birth, divorce or separation affecting people named in your Will *Significant changes in the value of your total assets or in any particular assets which you own * Changes in your relationships * A change in your State domicile * Death or incapacity of a beneficiary, or death, incapacity or change in residence of a named executor, or of one of the witnesses to the execution of the Will if the Will is not self- proving *Annual changes in tax law MAY I CHANGE MY WILL? Yes. A Will may be modified, added to, or entirely changed at any time before your death provided you are mentally and physically competent and desire to change your Will. You should consider revising your Will whenever there are changes in the size of your estate. Beware, if you draw lines through items, erase or write over, or add notations to the original Will, it can be destroyed as a legal document. Either a new Will should be legally prepared or a codicil signed to legally change portions of the Will. SAVE MONEY Probate in New Jersey is not difficult. Your estate will be subject to probate whether or not you have a Will and in most cases, a Will reduces the cost by eliminating the requirements of a bond. When you meet with your attorney to draft a Will, you may also learn ideas to reduce death taxes and other expenses. Dont pinch pennies now to the detriment of your Partner and beneficiaries. We have attempted to briefly explain in this article some of the issues, techniques, and decisions involved in Wills, Estate Planning, and Administration of an Estate. Because the matters covered are complicated and the Federal and New Jersey laws frequently change, this article can only outline some of the many legal issues you should consider. The cost of a Will depends on the size and the complexity of the estate and the plans of the person who makes the Will. A properly drawn Simple Will without Trust costs approximately $200.00 to $500.00. It is one of the most important documents you will ever sign, and may be one of the best bargains you will ever have. Also, ascertain if your Will is self-proving, which would dispense with having to find the Wills witnesses after death. WHAT IS A WILL? A Will is a Legal written document which, after your death, directs how your individually owned property will be distributed, who will be in charge of your property until it is distributed. You should remember that the term ³property² under the law includes "real estate as well as other possessions and rights to receive money or items of value.² Everyone who has at least $3,000 in assets should have a Will. You do not have to be wealthy, married, or near death to do some serious thinking about your Will. ADMINISTRATION OF AN ESTATE If you are named the executor or executrix, you must visit the County Surrogate to probate the Will. You will need the following items: 1. The Death Certificate 2. The Original Will 3. Names and Addresses of decedents next of kin and will beneficiaries 4. Minimum of $80.00 for Surrogate fees A state inheritance tax return must be filed and the tax paid on the transfer of real or personal property within eight months after death. OTHER ITEMS OF CONCERN TO BE PREPARED BY YOUR ATTORNEY -Power of Attorney- to allow your partner or another person to administer your assets during your lifetime, either upon disability or now -Living Wills/ Advance Directive- to state your wishes concerning medical care in the event of your serious illness and to allow your partner or another person to make medical decisions. In the absence of a Power of Attorney or other legal arrangement to distribute property if you become disabled, your partner cannot pay your bills or access your assets. The result can be lengthy delays. Reasons to have a Power of Attorney What are these powers of attorney? A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principals behalf. In general, an attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him/herself. You may wish to sign a Power of Attorney giving your partner the power to handle your affairs if you become ill or disabled. The term "durable" in reference to a power of attorney means that the power remains in force for the lifetime of the principal, even if he/she becomes mentally incapacitated. A principal may cancel a power of attorney at any time for any reason. Powers granted on a power of attorney document can be very broad or very narrow in accordance with the needs of the principal. Why is Power of Attorney so important? Every adult has day-to-day affairs to manage, such as paying the bills. Many people are under the impression that, in the event of catastrophic illness or injury, a live-in partner, or child can automatically act for them. Unfortunately, this is often wrong, even when joint ownership situations exist. Even under the "new" NJ Domestic Partner Act, you cannot act on behalf of a partner if they become disabled. A Power of Attorney allows your partner or another person to administer your assets during your lifetime, either upon disability or now. The lack of properly prepared and executed power of attorney can cause extreme difficulties when an individual is stricken with severe illness or injury rendering him/her unable to make decisions or manage financial and medical affairs. New Jersey has a detailed, expensive legal procedures, called Guardianships or conservatorships, to provide for appointment of a Guardian. These normally require lengthy, formal proceedings and are expensive in court. This means involvement of lawyers to prepare and file the necessary papers and doctors to provide medical testimony regarding the mental incapacity of the subject of the action. The procedures also require the involvement of a temporary guardian to investigate, even intercede, in surrogate proceedings. This can be slow, costly, and very frustrating. In addition, the domestic partner can be challenged in a guardianship by the incapacitated persons family members. Advance preparation of the Power of Attorney could avoid the inconvenience and expense of guardianship proceedings. This needs to be done while the principal is competent, alert and aware of the consequences of his / her decision. Once a serious problem occurs, it is usually too late. The Power of Attorney can be effective immediately upon signing or only upon disability. Some examples of legal powers contained in the Power of Attorney are the following: 1. REAL ESTATE: To execute all contracts, deeds, bonds, mortgages, notes, checks, drafts, money orders, and to lease, collect rents, grant, bargain, sell, or borrow and mortgage, and to manage, compromise, settle, and adjust all matters pertaining to real estate. 2. ENDORSEMENT OF NOTES, ETC.: To make, execute, endorse, accept, and deliver any and all bills of exchange, checks, drafts, notes and trade acceptances. 3. PAYMENT OF NOTES, ETC.: To pay all sums of money, at any time, or times, that may hereafter be owing by me upon any bill of exchange, check, draft, note, or trade acceptance, made, executed, endorsed, accepted, and delivered by me, or for me, and in my name, by my Agent. 4. STOCKS, BONDS, AND SECURITIES: To sell any and all shares of stocks, bonds, or other securities now or hereafter, belonging to me, that may be issued by an association, trust, or corporation whether private or public, and to make, execute, and deliver any assignment, or assignments, of any such shares of stock, bonds, or other securities. 5. CONTRACTS, AGREEMENTS, ETC.: To enter into safe deposit boxes, and to make, sign, execute, and deliver, acknowledge, and perform any contract, agreement, writing, or thing that may, in the opinion of my Agent, be necessary or proper to be entered into, made or signed, sealed, executed, delivered, acknowledged or performed. 6. BANK ACCOUNTS, CERTIFICATES OF DEPOSIT, MONEY MARKET ACCOUNTS, ETC.: To add to or withdraw any amounts from any of my bank accounts, Certificates of Deposit, Money Market Accounts, etc. on my behalf or for my benefit. To make, execute, endorse, accept and deliver any and all checks and drafts, deposit and withdraw funds, acquire and redeem certificates of deposit, in banks, savings and loan associations and other institutions, execute or release such deeds of trust or other security agreements as may be necessary or proper in the exercise of the rights and powers herein granted; Without in any way being limited by or limiting the foregoing, to conduct banking transactions. 7. TAX RETURNS, INSURANCE AND OTHER DOCUMENTS: To sign all Federal, State, and municipal tax returns, insurance forms and any other documents and to represent me in all matters concerning the foregoing. You should contact your attorney to have a Power of Attorney Prepared, together with a Will, Living Will and other vital Estate Planning documents. Gay and Lesbians- Living Will/ Advance Directives Planning Ahead For Your Health Care: Compiled by Kenneth Vercammen In the absence of a Living Will or other legal arrangement if you become disabled, your partner generally has no say regarding medical care or life support. Your partner cannot access your assets. Your partner cannot receive information on your medical status or medical care. Advance directives are very personal documents and you should feel free to develop one which best suits your own needs. All States have declared that competent adults have the fundamental right in collaboration with their health care providers, to control decisions about their own health care. States recognize in their law and public policy, the personal right of the individual patient to make voluntary, informed choices to accept, to reject or to choose among alternative courses of medical and surgical treatment. If you have a Living Will, you can designate your partner as a decision maker. WHY LIVING WILLS Modern advances in science and medicine have made possible the prolongation of the lives of many seriously ill individuals, without always offering realistic prospects for improvement or cure. For some individuals the possibility of extended life is experienced as meaningful and of benefit. For others, artificial prolongation of life may seem to provide nothing medically necessary or beneficial, serving only to extend suffering and prolong the dying process. States recognize the inherent dignity and value of human life and within this context recognize the fundamental right of individuals to make health care decisions to have life-prolonging medical or surgical means or procedures provided, withheld, or withdrawn. States recognize the right of competent adults to plan ahead for health care decisions through the execution of advance directives, such as Living Wills and durable powers of attorney, and to have their wishes respected, subject to certain limitations. PURPOSE OF LIVING WILLS In order to assure respect for patients previously expressed wishes when the capacity to participate actively in decision making has been lost or impaired; to facilitate and encourage a sound decision making process in which patients, health care representatives, families, physicians, and other health care professionals are active participants; to properly consider patients interests both in self-determination and in well-being; and to provide necessary and appropriate safeguards concerning the termination of life-sustaining treatment for incompetent patients as the law and public policy of this State, the Legislatures have enacted Living Will/ Advance Directives for Health Care Acts. REQUIREMENTS OF STATUTE The advance directive for health care (Living Will) requires a writing executed in accordance with the requirements of the state law. It must be either signed and dated in front of an attorney at law or other person authorized to administer oaths, or in the presence of two subscribing adult witnesses. If the two adult witnesses are used, they both must attest that the declarant is of sound mind and not under undue influence. A designated health care representative shall not act as a witness to the execution of the advance directive. Since this is a legal document, it must be executed properly to be valid under the statute. HEALTH CARE REPRESENTATIVE The declarant must designate one or more alternative health care representatives. "Health care representative" means the person designated by you under the Living Will for the purpose of making health care decisions on your behalf. WHEN DOES THE ADVANCE DIRECTIVE BECOME OPERATIVE An advance directive becomes operative when (1) it is transmitted to the attending physician or to the health care institution, and (2) it is determined pursuant to the Act that the patient lacks capacity to make a particular health care decision. Treatment decisions pursuant to an advance directive shall not be made and implemented until there has been a reasonable opportunity to establish and where appropriate confirm, a reliable diagnosis for the patient which shall include the attending physicians opinion concerning the nature, cause, extent, and probable duration of the patients incapacity, and shall be made a part of the patients medical records. For additional information or to have a "Living Will" prepared, see your attorney. In addition, be certain your Last Will and testament is up to date. As Americans, we take it for granted that we are entitled to make decisions about our own health care. Most of the time we make these decisions after talking with our own physician about the advantages and disadvantages of various treatment options. The right of a competent individual to accept or refuse medical treatment is a fundamental right now fully protected by law. But what happens if serious illness, injury or permanent loss of mental capacity makes us incapable of talking to a doctor and deciding what medical treatments we do or do not want? These situations pose difficult questions to all of us as patients, family members, friends and health care professionals. Who makes these decisions if we cant make them for ourselves? If we cant make our preferences known how can we make sure that our wishes will be respected? If disagreements arise among those caring for us about different treatment alternatives how will they be resolved? Is there a way to alleviate the burdens shouldered by family members and loved ones when critical medical decisions must be made? Living Will: By using documents known as advance directives for health care, you can answer some of these questions and give yourself the security of knowing that you can continue to have a say in your own treatment. A properly prepared Living Will permits you to plan ahead so you can both make your wishes known, and select someone who will see to it that your wishes are followed. After all, if you are seriously ill or injured and cant make decisions for yourself someone will have to decide about your medical care. Doesnt it make sense to ? Have your partner or another person you trust make decisions for you, ? Provide instructions about the treatment you do and do not want, or ? Both appoint a person to make decisions and provide them with instructions. _____ Rights and Obligations of Domestic Partners Procedural Requirements: Establish Eligibility A domestic partnership shall be established when all of the following requirements are met: 1. Both persons have a common residence within the State of New Jersey, or have a common residence in another jurisdiction and at least one of the persons is a member of a New Jersey State-administered retirement system, and both persons are otherwise jointly responsible for each others common welfare as evidenced by joint financial arrangements or joint ownership of real or personal property, which shall be demonstrated by at least one of the following: a. a joint deed, mortgage agreement or lease; b. a joint bank account; c. designation of one of the persons as a primary beneficiary in the other persons will; d. designation of one of the persons as a primary beneficiary in the other persons life insurance policy or retirement plan; or e. joint ownership of a motor vehicle; 2. Both persons agree to be jointly responsible for each others basic living expenses during the domestic partnership; 3. Neither person is in a marriage recognized by New Jersey law or a member of another domestic partnership; 4. Neither person is related to the other by blood or affinity up to and including the fourth degree of consanguinity; 5. Both persons are of the same sex and therefore unable to enter into a marriage with each other that is recognized by New Jersey law, except that two persons who are each 62 years of age or older and not of the same sex may establish a domestic partnership if they meet the requirements of this section. 6. Both persons have chosen to share each others lives in a committed relationship of mutual caring; 7. Both persons are at least 18 years of age; 8. Both persons file jointly an Affidavit of Domestic Partnership; and Neither person has been a partner in a domestic partnership that was terminated less than 180 days prior to filing of the current Affidavit of Domestic Partnership, except that this prohibition shall not apply if one of the partners died; and, in all cases in which a person registered a prior domestic partnership, the domestic partnership shall have been terminated in accordance with the provisions shown below under terminating a Domestic Partnership.

Estate Planning Interview Form-New Articles, ABA newsletters and Community events

Estate Planning Interview Form

Please fill out completely and fax or mail back. This form is extremely important. Your accuracy and completeness in responding will help me best represent you. ALL THE PAGES AND SECTIONS OF THIS FORM MUST BE COMPLETED PRIOR TO SEEING THE ATTORNEY. WRITE YOUR SPECIFIC QUESTIONS AT THE END OF THE LAST PAGE. PLEASE HELP YOURSELF TO THE FREE INFORMATION BROCHURES IN THE RECEPTION AREA. PLEASE PRINT CLEARLY Your Full Name: [Person Filling out Form] ______________________________________________________ First Last Street Address: ________________________________________ City ____________________ State ____ Zip Code _____________ Telephone Numbers: Cell: __________________________________ Day: ____________________ /Night: ________________________ E-mail address: __________________________________________ Referred By: ___________________________________________ Todays Date ___________________________________________ 1. Name of person planning for if other than person filling out this interview sheet: ____________________________________________________________ 2. Current address and phone for person whom Estate Planning is sought: ____________________________________________________________ ____________________________________________________________ 3. Relationship of person filling out this interview sheet: ____________________________________________________________ 4. Special medical or financial needs of person, spouse and dependents: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ASSETS 5. Stocks, bonds and other securities. How Registered. Approximate Amount of Each. (Joint - Survivorship - P.O.D. - Trust - Custodial) ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 6. Real Estate: Location and General Description - Record Owners - How and When Acquired Estimated Value - Mortgages, Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 7. Insurance policies, pensions, retirement and death benefits: (Identification and beneficiary) COMPANY AMOUNT OF POLICY BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 8. Bank and Savings & Loan Association Accounts: Savings - Time Cert. - Checking - other. How registered (Joint, Survivorship, Trust, Custodial) BANK APPROXIMATE AMOUNT BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 9. Major Personal Effects: Including Furs, Jewelry, Art, Cash on Hand and other items of Substantial Value and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 10. Other Investments: Nature and in What Names(s) Held and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 11. Safe Deposit Box: Location and How Registered: ____________________________________________________________ ___________________________________________________________ 12. Liabilities More Than $2,000.00: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 13. Estimated Gross Estate: $_________________________________________________________ 14. A. Is there a Will? _____ Did you bring a photocopy? ____ B. Is there a Power of Attorney? _____ Did you bring a copy? ____ C. Do You Have a Copy of the Deed? ________ D. Did You have/ bring a List of Assets. 15. PLEASE USE THIS PAGE TO WRITE YOUR SPECIFIC QUESTIONS FOR THE ATTORNEY: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ESTATE PLANNING The estate may be subject to Federal Estate Taxation if the total of assets exceeds $200,000. If the assets exceed $2,000,000 and you desire estate planning to avoid or reduce your estate tax or require a Trust to protect a spouse, please advise Mr. Vercammen. A Standard Will is not designed to address estate tax issues. We do not do Tax Planning or Medicaid Planning.

Wills and Estate Administration - Save Money and Provide for Your Loved Ones-New articles, ABA newsletters and Community events

Wills and Estate Administration - Save Money and Provide for Your Loved Ones

Wills & Estate Administration SAVE MONEY AND PROVIDE FOR YOUR LOVED ONES As average Americans, we work 80,000 hours in a lifetime, or 45 to 55 years. In spite of all the resources and assets we earn, the vast majority of us do not take the time to create a will. National statistics indicate that 80% of Americans die without leaving a will. There are several reasons for this: fear of death; procrastination; and misinformation (people presume that only the rich need to have wills). Whatever the excuse, it is clear that people would benefit from having a will. In the absence of a will or other legal arrangement to distribute property at death, the state must step in to administer the estate. The result can be lengthy delays before the rightful heirs receive their property. And because the state has no instructions from the deceased, no charitable gifts will be made. IF YOU HAVE NO WILL: If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probate: * State law determines who gets assets, not you * Additional expenses will be incurred and extra work will be required to qualify an administrator * Judge determines who gets custody of your children * Possible additional State inheritance taxes and Federal estate taxes * If you have no spouse or close relatives the State may take your property * The procedure to distribute assets becomes more complicated-and the law makes no exceptions for persons in unusual need or for your own wishes. * It may also cause fights and lawsuits within your family When loved ones are grieving and dealing with death, they shouldn’t be overwhelmed with Financial concerns. Careful estate planning helps take care of that. THE FOLLOWING IS A SAMPLE OF A VARIETY OF CLAUSES AND ITEMS WHICH SHOULD BE INCLUDED IN A WILL: 1ST: DEBTS AND TAXES 2ND: SPECIFIC BEQUESTS 3RD: DISPOSITION TO SPOUSE 4TH: DISPOSITION OF REMAINDER OF ESTATE 5TH: CREATION OF TRUSTS FOR SPOUSE 6TH: CREATION OF TRUST FOR CHILDREN 7TH: OTHER BENEFICIARIES UNDER 21 8TH: EXECUTORS 9TH: TRUSTEES 10TH: GUARDIANS 11TH: SURETY OR BOND 12TH: POWERS 13TH: AFTERBORN CHILDREN 14TH: PRINCIPAL AND INCOME 15TH: NO ASSIGNMENT OF BEQUESTS 16TH: GENDER 17TH: CONSTRUCTION OF WILL 18TH: NO CONTEST CLAUSE A will must not only be prepared within the legal requirements of the New Jersey Statutes but should also be prepared so it leaves no questions regarding your intentions. WHY PERIODIC REVIEW IS ESSENTIAL Even if you have an existing Will, there are many events that occur which may necessitate changes in your Will. Some of these are: * Marriage, death, birth, divorce or separation affecting either you or anyone named in your Will *Significant changes in the value of your total assets or in any particular assets which you own * A change in your domicile * Death or incapacity of a beneficiary, or death, incapacity or change in residence of a named executor, trustee or guardian of infants, or of one of the witnesses to the execution of the Will *Annual changes in tax law MAY I CHANGE MY WILL? Yes. A Will may be modified, added to, or entirely changed at any time before your death provided you are mentally and physically competent and desire to change your Will. You should consider revising your Will whenever there are changes in the size of your estate. For example, when your children are young, you may think it best to have a trust for them so they do not come into absolute ownership of property until they are mature. Beware, if you draw lines through items, erase or write over, or add notations to the original Will, it can be destroyed as a legal document. Either a new Will should be legally prepared or a codicil signed to legally change portions of the Will. SAVE MONEY Your estate will be subject to probate whether or not you have a Will and in most cases, a Will reduces the cost by eliminating the requirements of a bond. With a well-drawn Will, you may also reduce death taxes and other expenses. Dont pinch pennies now to the detriment of your beneficiaries. We have attempted to briefly explain in this article some of the issues, techniques, and decisions involved in Wills, Estate Planning, and Administration of an Estate. Because the matters covered are complicated and the Federal and New Jersey laws frequently change, this article can only outline some of the many legal issues you should consider. The proper preparation of a Will should involve a careful analysis of the clients assets, family and his/her desires. Estate Planning is the process of examining what will happen to your property when you die and arranging for its distribution in such a manner as will accomplish your objectives. The cost of a Will depends on the size and the complexity of the estate and the plans of the person who makes the Will. A properly drawn Simple Will without Trust costs approximately $100.00 to $500.00. It is one of the most important documents you will ever sign, and may be one of the best bargains you will ever have. Be sure your Will takes into account the 1997 Federal Tax changes and all New Jersey Inheritance Tax changes. Also, ascertain if your Will is “self-proving”, which would dispense with having to find the Willís witnesses after death. WHAT IS A WILL? “A Will is a Legal written document which, after your death, directs how your individually owned property will be distributed, who will be in charge of your property until it is distributed and who will take care of your minor children if the other parent should die . You should remember that the term “property” under the law includes real estate as well as other possessions and rights to receive money or items of value.” Everyone who has at least $3,000 in assets should have a Will. You do not have to be wealthy, married, or near death to do some serious thinking about your Will. ADMINISTRATION OF AN ESTATE If you are named the executor or executrix, you must visit the County Surrogate to probate the Will. You will need the following items: 1. The Death Certificate 2. The Original Will 3. Names and Addresses of decedents, next of kin and will beneficiaries 4. Minimum of $80.00 for Surrogate fees A state inheritance tax return must be filed and the tax paid on the transfer of real or personal property within eight months after death. OTHER ITEMS OF CONCERN TO BE PREPARED BY YOUR ATTORNEY -Trusts (and Medicare Trusts) -Power of Attorney- to allow a trusted person to administer your assets during your lifetime, either upon disability or now -Living Wills- to state your wishes concerning medical care in the event of your serious illness

Estate Planning -New articles, ABA newsletters and Community events

Estate Planning

Please fill out completely and fax or mail back. This form is extremely important. Your accuracy and completeness in responding will help me best represent you. ALL THE PAGES AND SECTIONS OF THIS FORM MUST BE COMPLETED PRIOR TO SEEING THE ATTORNEY. WRITE YOUR SPECIFIC QUESTIONS AT THE END OF THE LAST PAGE. PLEASE HELP YOURSELF TO THE FREE INFORMATION BROCHURES IN THE RECEPTION AREA. PLEASE PRINT CLEARLY Your Full Name: [Person Filling out Form] ______________________________________________________ First Last Street Address: ________________________________________ City ____________________ State ____ Zip Code _____________ Telephone Numbers: Cell: __________________________________ Day: ____________________ /Night: ________________________ E-mail address: __________________________________________ Referred By: ___________________________________________ Todays Date ___________________________________________ 1. Name of person planning for if other than person filling out this interview sheet: ____________________________________________________________ 2. Current address and phone for person whom Estate Planning is sought: ____________________________________________________________ ____________________________________________________________ 3. Relationship of person filling out this interview sheet: ____________________________________________________________ 4. Special medical or financial needs of person, spouse and dependents: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ASSETS 5. Stocks, bonds and other securities. How Registered. Approximate Amount of Each. (Joint - Survivorship - P.O.D. - Trust - Custodial) ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 6. Real Estate: Location and General Description - Record Owners - How and When Acquired Estimated Value - Mortgages, Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 7. Insurance policies, pensions, retirement and death benefits: (Identification and beneficiary) COMPANY AMOUNT OF POLICY BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 8. Bank and Savings & Loan Association Accounts: Savings - Time Cert. - Checking - other. How registered (Joint, Survivorship, Trust, Custodial) BANK APPROXIMATE AMOUNT BENEFICIARY ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 9. Major Personal Effects: Including Furs, Jewelry, Art, Cash on Hand and other items of Substantial Value and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 10. Other Investments: Nature and in What Names(s) Held and the Approximate Amount of Each: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 11. Safe Deposit Box: Location and How Registered: ____________________________________________________________ ___________________________________________________________ 12. Liabilities More Than $2,000.00: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ 13. Estimated Gross Estate: $_________________________________________________________ 14. A. Is there a Will? _____ Did you bring a photocopy? ____ B. Is there a Power of Attorney? _____ Did you bring a copy? ____ C. Do You Have a Copy of the Deed? ________ D. Did You have/ bring a List of Assets. 15. PLEASE USE THIS PAGE TO WRITE YOUR SPECIFIC QUESTIONS FOR THE ATTORNEY: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ESTATE PLANNING The estate may be subject to Federal Estate Taxation if the total of assets exceeds $200,000. If the assets exceed $2,000,000 and you desire estate planning to avoid or reduce your estate tax or require a Trust to protect a spouse, please advise Mr. Vercammen. A Standard Will is not designed to address estate tax issues. We do not do Tax Planning or Medicaid Planning.