ELDER LAW & ESTATE ADMINISTRATION BOOK AND AUDIO FOR SALE This book is from materials from the seminar NUTS AND BOLTS OF ELDER LAW AND ESTATE ADMINISTRATION (2014). Sponsored by the NJ Institute for Continuing Legal Education

ELDER LAW & ESTATE ADMINISTRATION BOOK AND AUDIO FOR SALE

     This book is from materials from the seminar NUTS AND BOLTS OF ELDER LAW AND ESTATE ADMINISTRATION (2014). Sponsored by the NJ Institute for Continuing Legal Education. The audio  CD is also available. 
 

 245 page Book elder law & estate administration including:


• Why Have a Will? 
Gathering information; standard provisions; designation of fiduciaries; protective clauses; sample forms; Ethics - who is the client?


• Powers of Attorney 
Types of POAs; what should be included; why clients need them; POAs and Living Wills; sample forms


• Living Trusts (Revocable/Irrevocable) as an Estate Planning Tool 
Why it should be used; disadvantages; revocable vs. irrevocable; Insurance Trusts; sample forms


• Basic Tax Considerations Jointly-held property; “I love you” Will; no Will at all; insurance owned by client; unlimited marital deduction; estate planning in the testamentary document; 
sample forms/letters


• Estate Administration - New Probate Law in New Jersey Probate process; duties of executor/fiduciary; gathering of assets; tax returns; tax waivers; access to property; sample forms/checklists


• Medicaid Planning in Light of Federal Medicaid Reform Countable assets of Medicaid applicant; income cap/Medical needy standard; look-back period; transfers of property; personal residence; Medicaid estate recovery rules
           …and more

Author/ Speakers:

KENNETH A. VERCAMMEN, ESQ. Chair, ABA Probate & Estate Planning Committee 

Past GP Solo Section Attorney of the Year Edison, NJ      

WILLIAM P. ISELE, ESQ. Past NJ Ombudsman for the Elderly 

MARTIN A. SPIGNER, ESQ. Cranbury, NJ

ADAM DUBECK,ESQ.  Morristown, NJ

Book  $36 NJ Bar Member     $45 Non-Member    Item M57814

Audio CD and book    $152 Member

$190 Non-Member    NJSBA Member   Item CDP57814

       *NJSBA Member Price – To qualify for this reduced price, you must provide your NJSBA Member# at the time you place your order

      Contact: New Jersey Institute for Continuing Legal Education 
  (732)214-8500 

http://www.njicle.com/nuts-and-bolts-of-elder-law-and-estate-administration-2014?pID=2186

Table of Contents

                                                                                                    Page

Articles, Forms, Checklists                                                                      

Kenneth A. Vercammen, Esq.                                                                  1 

         New Client/Schedule Appointment                                                   1

         Confidential Will Questionnaire                                                        3

         Will Bill                                                                                       8

         Will Draft                                                                                   9

         Doctor Certification of Patient Capacity to Sign Legal Documents      11

         Thank You for Referral                                                               12  

Power of Attorney Draft Letter   13               

Will Execution Checklist                                                                              15

         Will Signing Instructions for Wills or Power of Attorney Not Signed

          in Law Office                                                                            17

         Referral Out to Another Attorney                                                 19

         Letter Re:  No Representation                                                      20

         Letter Re:  Recommending Will to Client                                          21

         Post Will Letter                                                                          23

         Client Questionnaire/End of Case                                                  25

         Letter Re:  Power of Attorney Taking Effect                                   27

         Letter Re:  Release and Refunding Bonds from Each Beneficiary          29

         Will/Estate Bill                                                                           30

         Revocation of Durable Power of Attorney                                      31

         “Wills and Estate Planning:  Save Money and Provide for Your

          Loved Ones”                                                                            33

         “Federal HIPAA Law Now Recommends New Power of Attorney –

          Special Report”                                                                        37

         “Living Wills”                                                                              41

         “Gay Lesbians Partners - Problems if No Estate Planning”                  49

         “How to Prepare Letters of Instruction to Family, Employees, and

          Executor Regarding Funeral Arrangements, Business Transfer and

          Post-Death Procedures”                                                             51

         “Removing an Executor from an Estate”                                        55  

“Estate Planning for Alzheimer Patients & Guardianship of Disabled

          Adults”                                                                                   61

         “Answers to Questions About Probate and Administration of an

          Estate”                                                                                   65

         “Ten Estate Planning Ideas for Divorced or Separated Persons”         73

         “Executor of a Will – Duties and Responsibilities – Special Report”       75 

         “Prenuptial Agreements to Protect Your Assets in Case of Divorce

          or Death”                                                                                81

         “Undue Influence to Void a Will or Power of Attorney”                      87

         Attorney-Client Confidential Relationship                                         95

         Agreement to Provide Legal Services – Probate                              97

         Letter Re:  Recommendations to Executor                                    101

         “Trust vs. Wills”                                                                       105

         Caveat to Will                                                                          109

         Agreement to Provide Legal Services – Probate                            111

         Letter Re:  No Charge for Advice                                                115

        

         Guardianship Bill                                                                       117

         Will Signing Instructions for Wills or Power of Attorney Not Signed

          in Law Office                                                                          121

         Letter Re:  Confidentiality of Files                                                123

         Letter Acknowledging Receipt of Documents                                 125

         Central Jersey Elder Law Website/Articles                                    127

         “Dying Without a Will”                                                               133

         Elective Share of Spouse                                                           141 

         Joint Bank Accounts Upon Death                                                149

         What is a Probate Release & Refunding Bond?                              163

         Call Notes of ABA Aging and Law Networking Call                         167          

ABA Estate Planning, Probate & Trust Committee

           Spring 2014 Report                                                               171             Winter 2014 Report       175

           Fall 2013 Report                                                                    179 

         ABA Solo, Small Firm and General Practice Division Council

          Agenda Report Form – Summer Annual 2013                              183 

        

“Ethics Committee Opinion 692 Clarified on Retaining Client Files”               187

Financing Nursing Home Care in New Jersey

PowerPoint Presentation

William P. Isele, Esq.                                                                           189

         Attachments

           Undue Hardship Consideration [N.J.A.C. 10:71-4.10(q)]                199

           Medicaid Communication NO. 14-06 (Increase in the Penalty

            Divisor)                                                                               201

NJ Estate Administration Basics

PowerPoint Presentation

Adam P. Dubeck, Esq.                                                                        203

         Attachments

           Signature Page of Will                                                             211

           Probate Form A:  When There is a Will                                       213

           Probate Form B:  When There is No Will                                      217

           Notice of Probate                                                                  220

           Proof of Mailing                                                                     221

           Caveat                                                                                 222

           Authorization of Release of Financial Records and Information       223

           Form 4506-T:  Request for Transcript of Tax Return                   224

           Inheritance and Estate Tax Brochure (NJ Division of Taxation)       225

           Refunding Bond & Release                                                        227

           Waiver of Formal Accounting, Release & Indemnification                229

Nuts & Bolts of Elder Law and Estate Administration

Martin A. Spigner, Esq.                                                                       231

         Why Do Estate Tax Planning?                                                     231

         The Survivor’s Choice (Disclaimer) Trust or the Unified Credit

          Trust                                                                                    231

         Irrevocable Life Insurance Trust                                                  234

         Gift-Giving                                                                               234

         Intentionally Defective Grantor Trust (“IDGT”)                               235

           How the IDGT Works                                                              235

           Rev. Rul. 2004-64                                                                   237

           IDGTs vs. GRATs                                                                    237

Irrevocable Life Insurance Trusts

Martin A. Spigner, Esq.                                                                       239

         Introduction                                                                            239

         Irrevocability                                                                           239

         Payments of Premium; Crummy Powers                                        240

         Limiting Right of Withdrawal                                                       240

         Trustees                                                                                241

         Administration of the Trust; Taxes; Fees                                      241

         Spendthrift Provisions                                                               242

         Execution of Trust                                                                    242

         Post-Execution                                                                         242

         Attachments

        

About the Panelists…                                                                         245

Confidential Will Questionnaire

Codicil to Will and Changes to Will

NJ Inheritance Tax for Class D Beneficiary

New Jersey has had a Transfer Inheritance Tax for many years. There is no Inheritance Tax if property in going solely to spouse, children, grandchildren. However, an Inheritance Tax Waiver must be obtained on all real estate. Your attorney will prepare the Inheritance Tax Returns or L-9 Resident Decedent Affidavit Requesting Real Property Tax Waiver Form. After the tax waiver is obtained, your attorney needs to file with the County Clerk.
Currently, the law imposes a graduated Transfer Inheritance Tax ranging from 11% to 16% on the transfer of real and personal property with a value of $500.00 or more to certain beneficiaries. There is a NJ Estate Tax on most estates over $675,000.
A Transfer Inheritance Tax Return must be filed and the tax paid on the transfer of real and personal property within eight months after the death of either:
A RESIDENT decedent for the transfer of real or tangible personal property located in New Jersey or intangible personal property wherever situated, or
A NONRESIDENT decedent for the transfer of real or tangible personal property located in New Jersey. No tax is imposed on nonresident decedents for real property located outside of New Jersey and intangible personal property wherever situated.
http://www.njlaws.com/inheritance_tax...

Estate Planning & Probate Seminar North Brunswick Chapter #3885 of AARP March 2, 2015

Press Release: Estate Planning & Probate Seminar

 North Brunswick Chapter #3885 of AARP

March 2, 2015 at 1:15 Monday  

North Brunswick Senior Center, 15 Linwood Place, North Brunswick, NJ 08902    [Materials distributed at 12:15]

SPEAKER: Kenneth Vercammen, Esq. Edison, NJ

                (Author- Answers to Questions About Probate)

     The new NJ Probate Law made a number of substantial changes in Probate and the administration of estates and trusts in New Jersey.

Main Topics:

1.  Estate Planning

2.  Medicaid

3.  Probate and Duties of Executor

      COMPLIMENTARY MATERIAL: Brochures on Wills, "Answers to Questions about Probate" and Administration of an Estate, Power of Attorney, Living Wills, Real Estate Sales for Seniors, and Trusts.

       

Can’t attend?  We can email you materials Send email to VercammenLaw@Njlaws.com

Kenneth A. Vercammen is a trial attorney in Edison, NJ. He is co-chair of the Probate & Estate Planning Law Committee of the American Bar Association Solo Small Firm Division.  He is a speaker for the NJ State Bar Association at the annual Nuts & Bolts of Elder Law & Estate Administration program.

He was Editor of the ABA Estate Planning Probate Committee Newsletter. Mr. Vercammen has published over 150 legal articles in national and New Jersey publications on litigation, elder law, probate and trial topics. He is a highly regarded lecturer on litigation and probate law for the American Bar Association, NJ ICLE, New Jersey State Bar Association and Middlesex County Bar Association. His articles have been published in noted publications included New Jersey Law Journal, ABA Law Practice Management Magazine, and New Jersey Lawyer. He established the NJlaws website www.njlaws.com which includes many articles on Estate Planning, Probate and Wills.

KENNETH  VERCAMMEN & ASSOCIATES, PC

ATTORNEY AT LAW

2053 Woodbridge Ave.

Edison, NJ 08817

(Phone) 732-572-0500

 (Fax)    732-572-0030

www.njlaws.com

www.CentralJerseyElderLaw.com

NJ Estate Tax

NJ Estate Tax for Estates over $675,000
     Recommendation for Tax Planning now if husband and wifes total assets including life insurance exceeds $675,000
    A New Jersey estate tax return must be filed if the decedents gross estate plus adjusted taxable gifts as determined in accordance with the provisions of the Internal Revenue Code in effect on December 31, 2001 exceeds $675,000. It must be filed within nine months of the decedents death (nine months plus 30 days if the Form 706 method is used). Additionally, a copy of any Federal estate tax return filed or required to be filed with the Federal government must be submitted within 30 days of the date it is filed with the Internal Revenue Service and a copy of any communication received from the Federal government must be submitted within 30 days of its receipt from the Internal Revenue Service.

The NJ Estate Tax is in addition to any NJ Inheritance Tax.

Who Must File

A New Jersey estate tax return must be filed if the decedents Gross Estate exceeds $675,000. There is substantial taxes that must be paid after the 2nd spouse dies on amounts over $675,000. You can hire an attorney to set up Trusts to try to reduce taxes due. We charge a minimum fee of $600 for each trust within a Will. A separate stand alone Trust has a minimum fee for $2,000.

Even if your net worth is well below the threshold where the federal estate tax becomes an issue, the New Jersey Estate Tax may still be a problem. The New Jersey Estate Tax affects any person or married couple with net worth over $675,000.There is no exemption for assets you leave to your children; those assets are fully taxed. There is also no exemption for the value of your home and life insurance, so it is easy to hit the $675,000 threshold very quickly. more details at http://www.njlaws.com/NJ-Estate-Tax.html

Executor should have timely listed house for sale IN THE MATTER OF THE ESTATE OF CLARE M. MCCRINK, DECEASED.

Executor should have timely listed house for sale IN THE MATTER OF THE ESTATE OF CLARE M. MCCRINK, DECEASED.

DOCKET NO. A-2977-13T2

SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION

Submitted January 6, 2015
January 12, 2015

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION

Before Judges Yannotti and Fasciale.

On appeal from Superior Court of New Jersey, Chancery Division, Essex County, Docket No. CP-0114-2013.

Keith E. Paterson, attorney for appellant Elaine McCrink.

Respondent Joseph McCrink has not filed a brief.¹

PER CURIAM

        Elaine McCrink, the executrix and one of six surviving children entitled to share in the estate of Elaine's mother, Clare M. McCrink(the "decedent"), appeals from that part of a January 27, 2014 order directing her to sell the decedent's home (the "home") and pay the carrying costs pending the sale. The focus of this appeal is on the executrix's delay in listing the home for sale. We affirm.

Page 2

        The decedent died testate in November 2011. The executrix, who had been living in the home, failed to follow the terms of the will and list the property for sale. At the time of death, the home was appraised at $250,000. In May 2013, a year and a half after the death, two of the children (the "other children")² filed a verified complaint and order to show cause seeking to compel the sale.

        In June 2013, the judge ordered the executrix to list the property for sale within ten days. The executrix listed the home for sale at $330,000. In September 2013, the judge ordered the executrix to reduce the listing price to $300,000 effective September 2013, and $270,000 effective October 2013. The judge then scheduled the matter for a hearing.

        In January 2014, the judge conducted the hearing and took testimony from the executrix and the other children. At this time, two years and two months after decedent had died, the executrix still remained in the home, which had not yet been sold. The judge found that the executrix "took too long to act," stating that

[i]t's not reasonable . . . to do really nothing, particularly when you're in this conflicted situation. . . . [I]t would be different if . . . [the other children were]

Page 3

living there. . . . [Y]ou . . . have an obvious benefit, because the longer you stay [in the home] the longer you don't pay any rent, the longer you don't have this cost of living. . . . [A]s a fiduciary [you] have to . . . do something about it [and] act . . . , when [your] siblings . . . are already pressing and saying what's going on here, let's close out this estate.

The judge then entered the order under review.

        On appeal, the executrix argues that (1) the January 27, 2014 order contradicts the language of the will and N.J.S.A. 3B:14-23e(2); (2) she delayed listing the home for sale relying on advice from her counsel and relators; and (3) she complied with the court orders dated June and September 2013 requiring her to list the home.

        After thoroughly reviewing the record, we conclude that the executrix's arguments are without sufficient merit to warrant discussion in a written opinion, R. 2:11-3(e)(1)(E), and affirm substantially for the thoughtful reasons expressed by the judge. We add the following brief remarks.

        An appellate court must accord deference to a trial court's factual findings when such findings are "supported by adequate, substantial and credible evidence." Rova Farms Resort, Inc. v. Investors Ins. Co., 65 N.J. 474, 484 (1974). Here, there exists sufficient credible evidence in the record to support the

Page 4

judge's findings that the executrix unreasonably delayed her obligation under the will to sell the home.

        Contrary to the executrix's contention, the January 27, 2014 order does not contradict the language of the will. Paragraph four of the will provides:

I hereby give and bequeath the right of first refusal to purchase my [home] unto my children, or child, who shall desire the same, at a price to be determined by a fair market appraisal at the time of my death. If, however, there is a dispute regarding the [home], I direct that the same be sold and the net proceeds therefrom be part of my residuary estate to be distributed [equally].

I further direct that [the executrix] be permitted to reside in the [home] after the date of my death, and until the [home] is sold. I direct that my estate shall be responsible for the payment of real estate taxes, sewer and water expenses, utilities, maintenance, landscaping, and any other related expenses for the upkeep of the [home] until the [sale].

None of the children expressed an interest in purchasing the home. As a result, under the terms of the will and the order, the executrix was obligated to sell the home.

        Here, the will provides that the estate would pay the carrying costs for the property until it was sold. The will did not specify when the sale must occur, therefore, it should be interpreted to require a sale in a reasonable time. See In re Estate of Bayles, 108 N.J. Super. 446, 454 (App. Div. 1970)

Page 5

(holding that an executor "may be held liable for loss if he retains [assets of the estate] beyond a reasonable time for sale"). The judge found that the executrix had not taken steps to sell the property in a reasonable time and properly determined that the executrix should pay the carrying costs for the property, as of January 1, 2013.

        We reject the executrix's contention that the January 27, 2014 order contradicts the language of N.J.S.A. 3B:14-23e(2), which provides:

In the absence of contrary or limiting provisions in the . . . will . . . or in a subsequent court judgment or order, every fiduciary shall, in the exercise of good faith and reasonable discretion, have the power:

. . . .

e. With respect to . . . any real property belonging to the fiduciary's decedent at death[:]

. . . .

(2) To sell the property . . . on terms as in the opinion of the fiduciary shall be most advantageous to those interested therein[.]

[(Emphasis added).]

The language of this statute requires that the executrix exercise reasonable discretion. In issuing the January 2014 order, as well as the June and September 2013 orders, the judge

Page 6

complemented, rather than contradicted, this statutory language because the orders impliedly recognize the statutory obligation to act reasonably.

        We also reject as unpersuasive the executrix's assertions that (1) counsel advised her not to list the home for one year from the date of decedent's death; and (2) she was unable to list the home for sale until after she obtained an appropriate tax waiver.

        The judge did not find that counsel advised the executrix to do nothing for a year. Instead, the judge stated that "maybe [the delay] was with the advice of counsel, and maybe it was for other reasons." The judge provided the "other reasons" by acknowledging that the executrix was conflicted about her obligation to sell the home and her desire to remain living there.

        Although the executrix asserts that she could not have put the property on the market until she obtained a tax waiver, she offered no credible explanation for waiting until February 2013 to file an application for the waiver.

        Affirmed.