Gift or Theft ? (Part 2)

       In last week’s post I told you about John’s call about Medicaid for his sister, Mary. During our review of her 5 years of financial records we discovered transfers of funds while their brother, Jerry was handling her finances. Jerry admitted that he took the money without Mary’s knowledge so we have […]

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Gift or Theft (Part 1)

                The call from John involved another crisis planning case.  His sister, Mary was already in a nursing home and had a minimal amount of assets remaining to be spent down.  Before entering the facility she had lived for many years with her other brother, Jerry. Although she was able to attend to her activities […]

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An RMD and Tax Waiver Problem (Part 2)

                In my blog post last week I laid out Mary’s problem trying to draw out the required minimum distribution for 2018 from her deceased aunt’s IRA.  June died in November and had not yet taken the minimum necessary (RMD) to avoid a 50% penalty.  The bank holding the IRA, however, has refused to allow […]

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An RMD and Tax Waiver Problem -Part 1

       Although New Jersey no longer has an estate tax we still have an inheritance tax and with it a tax waiver. Last week we received a call from Mary who had been appointed executrix of her Aunt June’s estate. June had not taken her required minimum distribution (RMD) amount for 2018 from […]

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Possible Long Term Care Insurance Legislation on the Horizon? (Part 2)

                In my post last week, I talked about new legislation that is still in the drafting phase but that may be the next government attempt to provide a long term care benefit to Americans.  The last attempt, known as the CLASS Act, was a voluntary program.  This new program looks like it would be […]

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Possible Long Term Care Legislation on the Horizon?

       Just the other day I had someone ask me about the possibility of the government extending the Medicaid lookback from 5 years to 10 years. Since the last change in 2005 when the lookback went from 3 to 5 years (which change became effective in February, 2006) I have heard this rumor […]

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More Numbers of 2019

       In my blog post last week, I disclosed some of the important numbers that change year to year with respect to the Medicaid and VA Aid and Attendance programs that we work to obtain for many of our clients. Here are the rest of the important numbers as well as 2019 Medicare […]

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New Medicaid and VA Figures for 2019

       The cost of living adjustment for 2019 for many of the government programs that affect our clients’ lives has been announced so here they are.        For 2019, the Social Security Administration announced that Social Security recipients will receive an increase of 2.8%, which is greater than the 2.0% increase […]

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Raising a Grandchild (Part 2)

       In last week’s post I focused on an increasingly common family arrangement in which -for several different reasons – grandparents who expected to retire and live a more leisurely lifestyle instead find themselves caring for their grandchildren.        This often starts as a temporary solution but over time becomes a […]

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Raising a Grandchild (Part 1)

       It is estimated that 2.7 million grandparents are raising their minor grandchildren in their homes.  The reasons for this are varied.  The birth parents may be unable to care for their children because of physical or mental illness, substance abuse, incarceration, homelessness, poverty, or unemployment.  In many cases the grandparents didn’t expect […]

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