Considerations When Leaving an Estate to Non-U.S. Beneficiaries – Part 1
In some respects, naming a non-U.S. citizen as a beneficiary of your estate is no different than naming a U.S. citizen (with the exception of a spouse). For example, while the amount that can be passed free of federal estate tax (there currently is no New Jersey estate tax) is currently
Am I Too Young for an Estate Plan or a Long Term Care Plan? Part 4
In this 4th post of 4, I continue to discuss the topic of a catastrophic illness or injury hitting a younger family. We discussed the issues of long term care which may be needed for extended periods of time or for life. Advances in medical science can save lives but a lot
Am I Too Young for an Estate Plan or Long Term Care Plan? (Part 3)
In this 3rd post, I continue to discuss the topics of sudden catastrophic illness or injury at a younger age than one might ordinarily expect - such as someone in their 30’s, 40’s or 50’s. Advances in medical science have saved many people who 20, 30, or 40 years ago probably
Am I Too Young for an Estate Plan or Long Term Care Plan? Part 2
In my blog post last week I talked about a scenario we are seeing with increasing frequency. We have had a number of what we call crisis calls relating to a family member who has experienced a sudden onset of injury or illness causing the need for long term care -
Am I Too Young for an Estate or Long Term Care Plan? Part 1
Most of the crisis long term care stories I tell here in this blog are of people in their 60’s, 70’s, 80’s and older. They have not planned for the cost of long term care and are then beset with sudden illness or injury. The reality, however, is that there is no
2 Years Private Pay and Then Medicaid – Part 2
In my post last week, I told you about a son who called. His mom had been paying for care for almost 2 years at an assisted living facility (ALF). Thinking he was ready to apply for Medicaid benefits, he called our office for help. His mom, however, still owned real estate worth
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