Not as Much Time as You Think (Part 1)

                A part of what we do as elder law attorneys involves drafting the essential legal documents that will help clients set forth clearly their wishes and help family members assist them in accomplishing their goals.  This usually includes a power of attorney, health care directive, last will and testament and in some cases trusts. […]

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Required Minimum Distributions – Part 2

                In last week’s blog post I covered the basics of how required minimum distribution (RMD) rules work for IRAs and other tax deferred retirement accounts.  To summarize you must take out a minimum amount from your account each year.  That’s RMD and it starts in the year you turn age 70 and ½.                 […]

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Required Minimum Distributions – Part 1

                This week’s blog post topic is one I touched on briefly at the end of last year, required minimum distribution.  It is something that applies to retirement or nonqualified accounts and comes up frequently with clients who sometimes misunderstand it.  IRAs, 401ks and other retirement accounts are tax deferred accounts.  Under tax laws, the […]

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That Pesky Tax Waiver – Part 3

                This week’s post is the last of 3 on New Jersey’s tax waiver.  Last week I showed you how a small bequest in a will to a non-Class A beneficiary will trigger the need to file an inheritance tax return.  I also said, however, that in some instances a return must be filed even […]

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That Pesky Tax Waiver – Part 2

                In my post last week, I referred to New Jersey’s tax waiver.  It is an often misunderstood process designed to insure that the State receives the appropriate amount of taxes when someone dies.  As I explained, New Jersey’s estate tax was phased out as of 2018 but we still have an inheritance tax.  Very […]

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That Pesky Tax Waiver – Part 1

                As I have written in previous posts, New Jersey did away with its estate tax in 2018.  This was part of a compromise between the state legislature and then Governor Christie who agreed to an increase in New Jersey’s gasoline tax.  I have also pointed out that we still have an inheritance tax in […]

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Is There Any Government Benefit Program I Am Not Aware Of? (Part 2)

                In last week’s post I related a common question about government benefits – “is there something out there in the way of benefits that we could get that we’re just not aware of”?                 Most recently, a son, whose dad is in a nursing home already receiving Medicaid benefits, asked me this question.  His […]

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Is There Any Government Benefits I am Not Aware of? Part 1

                In this week’s post I want to talk about a common question I get about government benefits.  “Is there any benefit my family member can get that I am not aware of?”  In other words, “am I missing anything”?  I can certainly understand the reason for the […]

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Getting and Then Keeping Medicaid- Part 3

       This week’s post is the last of 3 on the danger of losing Medicaid after having been approved. In both of our cases the Qualified Income Trust was the cause and each time it happened during the annual redetermination process.        As I explained last week the QIT rules are […]

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Getting Medicaid and then Keeping it (Part 2)

            In my post last week, I started to tell you about the dangers of losing Medicaid benefits after qualifying for them.  That’s because you cannot put things on “autopilot”.  One reason is that getting a Medicaid approval only lasts for one year.  The State requires recipients to go through an annual redetermination process.             […]

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