Selling Real Estate of a Deceased Owner (Part 1)
I have written several blog posts about problems that arise when selling the real estate of a deceased owner. Here is another one that came to our office. An unmarried couple purchased a home together, which they held as tenants in common. While they referred to each other as fiancées, they never did
Estate Administration – Do It Yourself or Not (Part 2)
In my blog post last week, I began a discussion about what role an attorney can play in the estate administration process. More specifically, how much involvement we have in any case depends on the complexity of the matter and how much our clients want to take on themselves. As I
Estate Administration – Do It Yourself or Not?
A common question I am asked when talking to someone about hiring us to help with estate administration after a loved one dies is whether they need the assistance of an attorney or not. My general answer is that it depends on the specifics of the particular matter as well as
2025 Estate Tax Changes
In my last blog post of 2024, I discuss changes to estate and gift taxes for 2025. As with Social Security and the Medicaid and VA programs which I have already detailed here in past weeks, inflation adjustments have changed some numbers applicable to estate and gift taxes. Estate tax is due
2025 VA Aid and Attendance Numbers
In this week’s post I will review the updated numbers for 2025 for the VA program that provides a benefit to wartime veterans and their spouses. Known as the VA Aid and Attendance program, this benefit provides a special pension to eligible applicants who need long term care. The maximum pension amount
2025 Medicaid Numbers
In a blog post in October, I updated you on some of the new Social Security and Medicare numbers for 2025. The recently announced cost of living adjustment (COLA) of 2.5% follows a 2024 increase of 3.2%. Many other federal programs are tied to the Social Security COLA. These include Medicaid and the
Real Estate and Medicaid (Part 3)
In this third post of three, I discuss the impediment to qualifying for Medicaid when an applicant owns two homes. To review, only the primary residence is an exempt asset as long as the applicant or spouse is living in it. The second home is countable towards Medicaid’s asset limit. Selling the home
Real Estate and Medicaid (Part 2)
In my blog post last week, I addressed a common question about Medicaid when someone owns two homes. “Knowing that there is an asset limit in order to qualify for Medicaid but there are also certain exempt assets, can I exempt both homes and still qualify for benefits?” The answer is no,
Real Estate and Medicaid – Part 1
As I have written about many times on this blog, Medicaid is a needs based benefit. Assets must be spent down below $2000. Not every asset, however, is countable. There are exempt or non countable assets. These are assets that do not count against the $2000 limit. Additionally, in the case of married couple the
What is the Meaning of Per Stirpes? Part 2
In last week’s blog post, I explained the term “per stirpes”, which is typically found in a last will and testament. It is meant to cover the possibility that the person who I name in my will to receive a bequest has died before me. As I explained last week, the term