Blog Archives

The Problem with IRAs

            IRAs, or any retirement accounts really, have always been a problem when it comes to long term care.  They are a great vehicle for accumulating wealth.  You can put away savings in an account which will earn interest on a tax deferred basis.  No income tax is paid on the growth until you start […]

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Dangers of the Due on Transfer Clause (Part 2)

            Last week I was telling you about George’s problem.  He had transferred his home to a trust to protect it but then received a letter from the bank referring to something called the due on transfer clause.             A transfer of title without permission could trigger the bank’s entitlement to be paid back the […]

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Second Marriage – Happily Ever After? (Part 2)

                Last week I was telling you about George and Mary.  Mary has dementia and may soon need nursing home care.   George had gone to an elder law attorney who told him that once Mary spent down her assets she’d qualify for Medicaid.  That advice came at a time when George and Mary were living […]

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Second Marriage – Happily Ever After?

                George called me because his wife, Mary wasn’t doing well.  She has dementia and he is facing the prospect of needing long term care for her, possibly in a nursing home, although he would like to do everything possible to keep her at home.                 As the conversation always does, it quickly focused on […]

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Confusing Medicaid with Other Government Programs (Part 2)

                Last week I was telling you about the call I received from Lou.  His dad had been living in senior housing but now needs nursing home care.  Dad has $80,000 left in assets which he plans to spend down and then apply for Medicaid.                 When I asked Lou about gifts and other transactions […]

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Confusing Medicaid with other Government Programs

                The other day, Lou called me about his dad, who had been living in senior housing for a few years.   His health has deteriorated and he now needs nursing home care.  Lou’s plan is to spend down the $80,000 his dad has left, applying it towards the nursing home bill.   Sounds like a solid […]

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VA Pension not Income for Medicaid Purposes (An Update)

                Last year I wrote about an important court ruling in a case that impacts Medicaid and VA Aid and Attendance benefits.  Several elder law attorneys filed a lawsuit against the State of New Jersey which, despite being in clear violation of federal law, insisted on counting VA Aid and Attendance benefits as income for […]

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Retitling Assets to Healthy Spouse to Qualify for Medicaid

            It’s something I have written about in past blog posts but just last week we received a call from Mary on this exact issue.  Her husband, George, has Alzheimer’s and now needs care at home.  She is concerned that as his condition worsens it won’t be long before he needs nursing home care.  At […]

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The ABLE Act Passes

            Just before the Christmas holiday break, Congress passed, and then President Obama signed into law, the Achieving a Better Life Experience Act (“the ABLE” Act).  The ABLE Act allows people with disabilities to open special accounts, similar to 529 college savings plans.              The interest earned on these accounts […]

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Home for the Holidays

     Once again the holiday season is upon us, a time of joy but also stress.  We often visit family members we haven’t seen in some time and that’s when changes in older loved ones become more noticeable.  Some of the changes that may indicate your loved one needs some extra help: Weight loss […]

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