New Jersey Releases the 2020 ANCHOR Tax Program
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The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program is a property tax relief program for New Jersey residents who owned or rented real property in New Jersey as a principal residence (main home) on October 1, 2020. One requirement is that property taxes were paid on that home at that time. Applicants must meet certain gross income limits. The benefit amount will range between $1,000 to $1,750 depending on age and income.
If you receive an ANCHOR Benefit Confirmation Letter from the State notifying you that you qualify for this benefit, you do not need to do anything else. A new feature of the program is that the State will file the application for you, in this instance, and pay the benefit as per that letter. Most applicants can expect to receive their ANCHOR benefit payment approximately 90 days after the application is filed, unless the State receives additional information to process the claim or there are other issues.
If you do not receive a letter from the State or you need to make changes to your application, you have until September 30, 2023 to file an application on your own. Most applications can be filed online here. However, some applicants will be required to file the paper form, FORM ANCHOR-H. Examples of when a paper form is required is: if they shared ownership with a non-spouse; the property has multi-units; you are widowed and the Deed lists both your name and your deceased spouse’s name; you are an Executor filing on behalf of a deceased homeowner; the property is held in a Trust or life estate; and other scenarios.
For more information, please visit the State’s website. Our office can assist you with the application process and any questions or issues you may have.
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Governor Expands Involuntary Commitment
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On August 16, 2023, Governor Phil Murphy signed a new law that will double the time that hospitals can hold people in psychiatric crisis against their will, despite advocates’ concerns that the measure could make racial disparities worse and harm civil rights protections.
Even though critics had urged the Governor to veto the bill, Murphy issued a statement after signing the bill that defends his action, calling the state’s shortage of psychiatric beds “an emergent crisis" that prevents health care providers from treating people with mental illness in the most suitable, least restrictive environment.
“These capacity issues are particularly troubling in cases where an individual’s condition is so severe that they are in need of involuntary commitment, yet the path to timely intervention is unclear,” said Murphy. The new law, he said, “provides interim solutions to these problems and takes important steps to increase bed capacity, which is the appropriate and sustainable long-term solution.”
Previously, hospitals had been allowed to hold committed people for 72 hours involuntarily, as they worked to place them in psychiatric hospitals or other facilities. Hospital administrators have said that they often cannot secure placements within the prescribed three days, forcing them to discharge untreated patients – even though they were seen as a threat to themselves and others. Under the new law, hospitals can hold patients up to an additional 72 hours longer, with court approval. Hospitals will also be allowed to apply for temporary approval from the state’s Department of Health to add psychiatric beds for involuntarily committed patients (such applications were previously reviewed only twice a year).
Clients with mental health issues should speak with our Wills, Trusts and Estates practice group about an Advance Directive for Mental Health Care. Please feel free to contact us at (973) 729-1880 or via email:
- Renata A. Mizak, Esq., Practice Leader (RMizak@lcrlaw.com)
- Shan H. Kadkoy, Esq. (SKadkoy@lcrlaw.com)
- Richard T. Sweeney, Esq. (RSweeney@lcrlaw.com)
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LADDEY, CLARK & RYAN, LLP
60 Blue Heron Road | Sparta, NJ 07871 | 973-729-1880
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Inherited Retirement Accounts: Minimizing Tax Consequences
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The SECURE Act changed how beneficiaries of inherited retirement accounts must withdraw these funds. Its passage made it more difficult for individuals to pass their retirement savings on to their heirs without tax liability. |
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Mitigating the Impacts: Sunsetting the Tax Cuts and Jobs Act
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The Tax Cuts and Jobs Act (TCJA) took effect on Jan. 1, 2018, and impacted personal income taxes, estate tax rules, capital gains rules, and much more. The TCJA is scheduled to sunset at the end of 2025. This will lead to significant changes for taxpayers. |
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What Is a Gun Trust?: Estate Planning Q&A
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If you own a firearm of monetary or sentimental value, you may wonder how to transfer ownership to your loved ones after you die. In addition to creating a will, you may want to make special arrangements for your weapon.
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Ashes to Ashes, or Ashes to Soil? Is Human Composting Real?
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As more people look to adopt environmentally sustainable practices not only in life, but now also in death, 'green' alternatives may become more of a norm in the future. |
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What Is a Medicare Flex Card?
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As part of their benefits, some Medicare Advantage beneficiaries receive Medicare flex cards. These are pre-paid debit cards for qualifying expenses.
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Why Hire an Elder Law Attorney?
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Elder law attorneys, with expertise in estate planning, incapacity planning, and end-of-life care for seniors, are essential in working to protect a vulnerable population.
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