New Tax Law Changes Coming ? – Part 1
We have received many calls about upcoming changes to the federal income, estate and gift tax laws. To be clear, nothing has changed yet. Draft legislation has been proposed by the House of Representative’s Ways and Means Committee but right now it is nothing but a proposal. Things can and often do change
On Credit Cards and Medicaid – Part 2
In last week’s post I told you about two calls I received regarding Medicaid. In each case the caller was concerned about how credit card charges on a Medicaid applicant’s card affects eligibility. A common misconception about Medicaid is that debts affect eligibility. Not true, at least in the sense that the State
On Credit Cards and Medicaid – Part 1
In this week’s post I want to tell you about two recent calls we received that highlight the same issue. Each caller reached out to us concerned about a family member who soon will run out of money to pay for long term care. Recognizing the need for Medicaid benefits, the callers
The Unknown (Half) Sibling – Part 3
In this third post of three I have been discussing Mary’s call to our office. She had taken care of her cousin, Sam in his home until his death following a long struggle with Alzheimer’s Disease. Sam had promised he would leave Mary his home but he never put that in writing
The Unknown (Half) Sibling – Part 2
In last week’s post I was telling you about Mary’s problem. She had moved in with and taken care of her cousin, Sam after his diagnosis of Alzheimer’s Disease. She had given up the lease on her apartment when she agreed to the arrangement and Sam promised in return to leave her
The Unknown (Half) Sibling
I have written in this blog previously about the outcome of estate distribution when the decedent (person who died) did not execute a will. New Jersey intestacy laws predetermine what happens to your assets and it may not be what you want. Mary called because her cousin, Sam had recently died. Mary had
Recent Trends with Medicaid Applications – Part 2
In my post last week I told you why I think Medicaid applications have become more difficult to get approved. This week I will talk about the ways the State has made it more challenging. One way, which I have written about several times over the past few months is the QIT
Recent Trends with Medicaid Applications – Part 1
I have been saying for some time that Medicaid benefits are much more difficult to obtain now than at any time I can recall in the last 25 years I have been filing applications on behalf of clients. There are a number of reasons for this and a number of ways
Another Word About QITs – Part 5
In my last post on this topic (4/4/21) I told you about a case involving a qualified income trust (QIT) that was not used correctly causing the denial of a Medicaid application which we had filed. I appealed and the judge reversed the denial excusing the technical mistakes made by the
Estates Left Unattended – Part 3
This 3rd post of 3 is about estate administration which was begun but not finished by an executor who died. As I explained last week, I first had to petition the court to be appointed administrator. The estate consisted of a house and investment accounts. There were several issues that needed immediate attention. Because