2 Years Private Pay and Then Medicaid? Not so fast
In this week’s post I will tell you about a call we received recently, similar to ones we have had many times over the years - although not in some time. Son called stating that Mom was close to completing a 2 year private pay requirement at a local assisted living
The Medicaid Spend Down Scramble – Part 2
The Medicaid Spend Down Scramble - Part 2 In my blog post last week, I wrote about the rushed process of spending down assets to achieve Medicaid eligibility for one spouse without severely impoverishing the other non-Medicaid “community spouse”. While maximizing what that spouse can keep - what is known as exempt
The Medicaid Spend Down Scramble – Part 3
The Medicaid Spend Down Scramble - Part 3 In my blog post for this week, I finish the topic of the spend down process before Medicaid and why it is so important to the financial well being of the healthy non-Medicaid spouse. As I explained last week, maximizing what that spouse, known
The Medicaid Spend Down Scramble – Part 1
I have written in past blog posts about Medicaid’s 5 year look back and the need to be familiar with the transactions that Medicaid will be reviewing. We still, however, receive many calls where a quick spend down to Medicaid is necessary. In the case of a married couple where only one
The Types of Long Term Care Facilities and Why It Matters – Part 3
In this third post of three, I continue to discuss why understanding the type of facility you are considering is so important. Last week I talked about long term care insurance policies that may apply differently to nursing home care vs. assisted living care or home care. The type of facility also
The Home and Not Much Else (Part 3)
In this week’s post, I continue to discuss a common fact pattern we see in our office. The case involves someone who needs long term care, doesn’t have enough to pay for it but does have a house. As I explained last week, the available government benefit programs don’t always cover the
The Home and Not Much Else (Part 2)
In last week’s post I laid out a common fact pattern we see in our office. In short, it’s a case where long term care is needed and there is not much in the way of liquid assets to pay for it but there is a house which the senior owns
The Home and Not Much Else (Part 1)
In this week’s post, I address a common problem we see often in our office. An elderly client owns a home but very few other liquid assets. Income from Social Security and pensions is enough to meet monthly expenses - but then things change. Long term care becomes necessary. That’s when the status quo
How Not to Lose Medicaid (Part 5)
In last week’s post I explained that when the non-Medicaid spouse dies, the Medicaid spouse must receive at least a minimum amount of assets from the deceased spouse. This is known as the elective share and in New Jersey is determined to be 1/3 of the deceased spouse’s estate less what
Happily Married or Something Else? Part 1
Through the years we have had many clients who have been happily married for the second or third time. When it comes time to address a long term care crisis, however, navigating the long term care system and determining how to get the best care for the ill spouse while not