WEST ORANGE, NJ — More than 20 people from various industries including insurance, health-care and life coaching, many of whom were businesses owners, recently attended a West Orange Chamber of Commerce (WOCC) business luncheon at the Kessler Institute for Rehabilitation to discuss estate and long-term care planning.
Laurie Hauptman, a partner at Hauptman & Hauptman P.C. shared information about how important it is for business owners to plan for the future by creating succession plans for their business. The firm specializes in elder, estate and special needs law.
“If you die without a plan, you leave your heirs without a plan,” Hauptman said during the hour-long presentation. “A will takes care of ‘what happens when I die,’ but a power of attorney helps take care of ‘what if I am sick and I am still alive but am unable to take care of my business.’”
Hauptman’s presentation covered information about the costs of in-home health care as well as residential treatment centers and how thoughtfully planning for these events now can help in the future. The costs easily skyrocket and can leave a surviving spouse in poverty if plans are not carefully made, Hauptman said. She also shared information about the benefits available to certain veterans to help alleviate some of those costs.
“Sharing the veterans benefits, that was what was helpful for me,” said Willa Edgerton-Chisler, a professional coach and owner of Symphony Strategies. “They always talk about veterans benefits about disabilities, but knowing what they are also eligible for is helpful.”
Lunch was provided to the attendees by the Right At Home - Essex County, a franchise that specializes in in-home care and assistance.
“The chamber is proud to provide this series and share valuable information with business owners and the community,” said Jessica Marrone-Parkes, WOCC executive director. “The Biz 2.0 series has been successful in helping our members and guests in many areas. We thank Kessler for hosting the event and Right at Home for sponsoring the event.”
The WOCC hosts a learning series for growing businesses every other month. To learn more about upcoming events, visit www.WestOrangeChamber.com.