New Jersey Courts Decide Case Involving Estate Recovery and Elective Share (Part 2)
Last week I told you about a case that was just decided by a New Jersey court in which a family tried to avoid the impact of New Jersey’s elective share as it relates to Medicaid. (See 1/30/17 post for an explanation of the elective share and Medicaid estate
New Jersey Courts Decide Case Involving Estate Recovery and Elective Share #EstateRecovery
Estate recovery is something I am asked about frequently when it comes to Medicaid, although families rarely pose it in those terms. The question, or some variation of it, goes as follows: “Will Medicaid put a lien on my home?” What we are talking about is the State of
New Medicaid and VA Figures for 2017 #2017Medicaidnumbers
It’s time to update the numbers for many of the government programs that affect our clients’ lives and that we work with so often. I am talking about cost of living adjustments for the new year. For 2017, the Social Security Administration announced that Social Security recipients will receive a
How Medicaid Treats Life Insurance (Part 1)
Medicaid requires the applicant to spend down all assets to under $2000 before approving an application for benefits. The question comes up frequently about life insurance. Is it an asset and if so, what is the value? In order to answer that question, we must examine what kind of
When to Sell the Home (Part 2)
Last week I told you that Dave called because his dad needs to go to a nursing home and he is now in “spend down mode”. He plans to sell the home, spend down the proceeds from the sale and then apply for Medicaid. A straight forward, sound approach?
When To Sell The Home
Dave called me because his dad had just recently suffered a stroke and was in the hospital but ready to be discharged. Dave told me, “Dad can’t go home. We’ve been able to keep a promise we made to keep him home but at this point the family recognizes
Home Based Medicaid – A Deceiving Benefit – Part 2 #HomeBasedMedicaid
I told you last week that Jim’s dad was running out of money. Living at home with aides providing him with round the clock care, Jim was thinking that once the cash runs out he can apply for Medicaid under New Jersey’s home based Medicaid program #NewJerseyMedicaid. Jim’s plan
Home Based Medicaid – A Deceiving Benefit #HomeBasedMedicaid
Jim called because his dad was running out of money. Dad is living at home with two aides that provide him with round the clock care. He owns the home he lives in but only has approximately $30,000 of liquid assets left. Jim figured home based Medicaid would be
College and Long Term Care – ??? (Part 3) #LongTermCare
The last two weeks I have been telling you about an increasing trend that we are seeing in cases that come through our office- grandparents who are paying for college, daycare, camp expenses etc. for their grandchildren. While a big help to the children of our clients who can’t
Medicaid Estate Recovery – The Facts (Part 2) #MedicaidEstateRecovery
Last week I was telling you about a common topic of confusion when it comes to Medicaid – the potential for estate recovery – that process by which the State attempts to recoup money from the estates of Medicaid recipients to offset the amount of Medicaid benefits it paid