Is Hiding Assets in Mom’s Name a Good Idea? (Part 2)
Last week we talking about Jennifer’s problem, which she didn’t realize was a problem until she spoke with us. She had been hiding her assets in her mother’s name to keep them out of the reach of her husband, who she was thinking she might divorce. I told her that
Is Hiding Assets in Mom’s Name a Good Idea?
Jennifer told me that her mom’s health had been deteriorating over the past few years and that she would probably need home care soon, with nursing home level care a definite possibility in a few years, if not earlier. She then told me that her marriage was “on the rocks”
How is Co-Ownership Treated by Medicaid?
Joe was confused. He told me his mom had added his name as co-owner on her bank account more than 5 years ago, after he spoke with his friend, John who explained that by adding his name to the deed to his mother’s home, he had protected the home when
Changes in Hospitals’ Treatment of Medicare Patients (Part 2)
Last week we were talking about Medicare’s Affordable Care Act and how the government is trying to reduce Medicare costs by targeting the problem of readmissions. Beginning last October, Medicare began penalizing hospitals for having too many readmissions. So, what has the impact been in New Jersey over the past
Changes in Hospitals’ Treatment of Medicare Patients
For years hospitals have struggled with the readmission rates of their elderly and disabled patients, those on Medicare. Government spending on Medicare reached nearly $600 billion last year with a quarter of that cost attributed to hospital inpatient services. That number is projected to grow 4% a year. Last year, under
A Power of Attorney Gone Wrong (Part 2)
Last week we were discussing John Potter’s plight. He executed a power of attorney in favor of his daughter and she transferred the home to herself, without his knowledge, even though the document didn’t give her the power to do so. Then, why didn’t he get his house back? The news
A Power of Attorny Gone Wrong
A power of attorney is such an important document, often central to guiding our aging clients and their families through the maze of laws, benefits and issues they face as our population continues to age and lifespans are increased by advances in medical science. However, this document must be carefully
New Trend in Medical Care – Geriatric ER?
As I have written often, we will see many changes in the types of services and the ways they will be offered as the population continues to age, with 77 million baby boomers approaching senior status. One interesting change, in which New Jersey is in the forefront, is the appearance
Medicaid’s Spend Down – Don’t Get Caught Short (Part 2)
Last week we were discussing Jeff’s difficulties spending down his mom’s remaining assets, not getting caught with too much at the end of the month to qualify for Medicaid, but not enough to cover the private pay rate. So how does one avoid this Medicaid “trap”? As we approached the final
Medicaid’s Spend Down – Don’t Get Caught Short
We had been working with Jeff to prepare for an eventual Medicaid application to be filed on his mother’s behalf. Much of that work involved reviewing the 5 years of records, Medicaid’s look back period. But we also needed to coordinate the spend down as we were nearing the target