For estate planning in Hudson County, NJ, Power Law Firm is the right choice. We have been building relationships in this area for over 30 years and counting, and we keep a finger on the pulse of the ever-changing estate planning landscape.
Hudson County is the smallest county in New Jersey in terms of land mass, but it is the most densely populated. There is a lot going on at all times, and the Big Apple is just a few minutes away, so it is an exciting place to call home.
Jersey City is the hub of Essex County with over 292,000 residents according to the 2020 census. Other municipalities of note include Bayonne, Hoboken, Union City, Kearny, North Bergen Township, West New York, and Secaucus.
Hudson County Probate Court
In the state of New Jersey, the Surrogate’s Court is in charge of probate matters. When a will is used to direct asset transfers, the executor will admit the document probate, and the court will provide supervision. This court will also handle intestate estate cases.
Another function of the court is related to incapacity among adults. As an estate planning and elder law firm, we address the eventualities of aging, and incapacitation is definitely one of them.
This court can be petitioned to appoint a guardian for an incapacitated adult, and this is a necessary safeguard. However, there are steps you can take to empower your own representatives in advance, and we can help you put an incapacity plan in place.
The Hudson County Surrogate’s Court is located in Jersey City, and there are answers to frequently asked questions on the site, so it is a great source of information. This is the location and contact information if you want to communicate with the Surrogate’s Court:
Hudson County Surrogate’s Court
Hudson County Administration Building
4th Floor, Room 407
Jersey City, NJ 07306
Elder Resources in Hudson County
The Hudson County Division on Aging Services advocates for seniors and their caretakers, and it has been serving area senior citizens for over 40 years. You can visit this page to obtain detailed information about the services that are available: Hudson County Senior Resources.
Hudson County, NJ Elder Care Planning
Just over 12 percent of the population of Hudson County is over 65 years of age, and inevitably, the golden years will fade into the twilight stage. The United States Department of Health and Human Services tells us that 35 percent of seniors will require nursing home care at some point.
You can expect to pay over $150,000 a year for nursing home care in Hudson County, and more than half of people that require paid long-term care incur the expenses for over one year. This is attention-getting for a single person, and the expenses can be doubled for married couples.
Medicare does not pay for a stay in a nursing home, and it does not cover in-home care that is provided by a professional health aide. Fortunately, there is a solution in the form of Medicaid coverage.
It is a need-based program, so you cannot qualify if you have more than $2000 in countable assets. You can give gifts to your loved ones to gain eligibility, but you have to complete all divestitures at least five years before you apply for Medicaid.
Many people rely on income that is generated by their savings, so they cannot give their nest eggs away and maintain their lifestyles. This is understandable, and a Medicaid trust can cover both of your bases.
If you establish and fund the trust, you would be able to accept income that is generated by the appreciable assets. The principal would be out of your reach, but it would not count if and when you apply for Medicaid coverage.
Take Action Today!
We are here to help if you are ready to work with a Hudson County, NJ estate planning lawyer to develop a plan for aging that culminates in the passing of your legacy. You can send us a message to request a consultation appointment, and we can be reached by phone at 800-281-1515.