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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

            Last week I was explaining the problem with IRAs and long term care.  If you need care at $125,000 per year or more but want to protect your IRA, what are your options?  It’s always easiest to illustrate by way of an example.             Bill has an IRA worth $1.2

            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

                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,

                About a month ago, my parents’ health took a sudden turn and it led me down the path that many of our clients and their families face, tackling long term care.   In our case, it was an accident outside their home.  My mom broke her leg.  My dad suffered