You are making the ideal connection if you would like to work with an Essex County, New Jersey estate planning lawyer to put a plan in place. We are locals helping our neighbors prepare for difficult times, and we take our responsibility to the community seriously.
Like a lot of places in the original 13 states, the county is named after a county in England, and it has a rich historical background that dates back to 1683.
The largest city in Essex County is Newark, which is one of the most important cities on the East Coast. It is a major transportation hub, and several large corporations are headquartered in this vibrant city, which is just 13 miles from midtown Manhattan.
There are five colleges and universities in Newark, including Seton Hall University Law School and the New Jersey Institute of Technology. It is the beating heart of Essex County, and we have been assisting local families for over three decades and counting.
Probate in Essex County, NJ
The Surrogate’s Court presides over probate matters in New Jersey, and there are surrogates for each county. If you use a will to express your final wishes, you name an executor to act as the administrator. After your passing, they would admit the will to probate.
There are administrative steps that must be taken when an estate is subject to probate, and it can be a bit overwhelming for a layperson. This is fully understandable, but the matter can be easily simplified if you engage a Power Law Firm Essex County probate lawyer.
If you would like to get in touch with the Essex County Surrogate’s Court, this is the contact information:
Essex County Surrogate’s Court
495 Dr. Martin Luther King, Jr. Boulevard
Newark, NJ 07102
In addition to estate planning, we also focus on the challenges that can confront senior citizens, and incapacity is one of them. Once you reach the age of 67, your life expectancy is into your mid-80s and over 30 percent of the oldest-old contract Alzheimer’s disease.
Alzheimer-induced dementia can take away your ability to make sound decisions on your own, and this is not the only cause of incapacity. If you do nothing to prepare for this eventuality, the court can be petitioned to appoint a guardian to act as your representative.
You can take the matter into your own hands if you take the right steps in advance. If you use a living trust as your asset transfer vehicle, you would be the trustee while you are living. The successor trustee that you name in the document would assume the role after your passing.
To account for possible incapacity, you can empower the successor trustee to administer the trust if you become incapacitated. The eventual distribution to the heirs will not be subject to probate, and this is a positive because the administrative hurdles are avoided.
Essex County Elder Care Planning
The 2020 census found that 13.9 percent of the people that live in Essex County are senior citizens. This is a significant population, and since the baby boomers are entering their senior years, the figure is likely to rise as time goes on.
There are many programs for seniors offered by the Essex County Division of Senior Services, which is part of the Department of Citizen Services. These would include caregiver services, home-delivered meals, care management, and health insurance counseling, just to name a handful.
Our firm is another source of guidance if you are concerned about elder care planning. Thirty-five percent of seniors will eventually reside in nursing homes, and Medicare does not pay for the custodial care that they provide.
Medicaid is a need-based program that will cover long-term care. Even though there is a low asset limit, you can utilize a Medicaid trust to gain eligibility. However, advance planning is key because of the five-year look back period for funding the trust.
We have a thorough understanding of nursing home asset protection strategies, so we are well-positioned to help you preserve your legacy for the benefit of your loved ones.
Schedule an Essex County, NJ Estate Planning Consultation!
If you are ready to work with an attorney from our firm to put a plan in place, you can schedule a consultation if you call us at 800-281-1515. There is also a contact form on this site you can use if you would prefer to send us a message.