Sobering Story About Lack of POA
      June is a month for celebrations. Whether it’s friends or family it seems there is always a prom, high school or college graduation or wedding to celebrate every year. It’s the good stuff in life. While I certainly don’t want to ruin the party, this week I do want
Anatomy of a Scam
               As far as scams go, it is not one that will cause anyone to lose their life savings. Maybe calling it a scam is not entirely accurate. At the very least the letter Joan received was misleading and confusing. As part of an asset protection plan we placed Joan’s
Dad Gets Knocked Off of Medicaid (Part 2)
               Last week I was telling you about John’s dad who was about to be knocked off of Medicaid. His mom had recently died. Her will stated that should Dad survive Mom her estate would pass to him. Included in the estate was the marital home which she was able
Dad Gets Knocked Off Medicaid
               John called because his dad, who had been receiving Medicaid in a nursing home for several years, had just received a notice that his benefits were being terminated at the end of the month. He told me he had hired one of the companies that does Medicaid applications because
New Jersey Issues Updated Medicaid Penalty Divisor
               The last time New Jersey updated it’s Medicaid penalty divisor was two years ago. The divisor is the State’s determination of what the average daily cost of nursing home care is across the State of New Jersey.  Although it is supposed to be updated annually the last adjustment occurred
A Word About Family Caregiver Contracts (Part 2)
               Last week I was telling you about Mary’s question to me. Her mom is in a Florida nursing home but she wants to bring her up north closer to Mary. Mom had given Mary $100,000 under a personal services contract which was drafted by a Florida attorney. Her question
A Word About Caregiver Contracts
               Mary called because her mom is currently in a nursing facility in Florida. She wants to bring her up north to be closer to Mary. She then told me that a Florida attorney prepared a personal services contract in which Mom paid Mary a sum of $100,000 to provide
An Update on an Important Medicare Decision
               In 2013 I wrote on this blog about an important court decision that impacted many seniors discharged from hospitals to subacute facilities for rehabilitation. (See my posts on March 25 and April 1, 2013.) Up to 100 days of rehabilitative services are covered by Medicare but many seniors receive
Irrevocable vs. Revocable Trusts – Is One Better than the Other? (Part 2)
               Last week I explained that the initial reaction to irrevocable trusts vs. revocable ones is generally negative. People perceive there to be a loss of control or really a loss of the use of the funds transferred to irrevocable trusts. But, is that really true?                No, it isn’t because
Irrevocable vs. Revocable Trusts – Is One Better than the Other? (Part 1)
               When I talk about trusts – and specifically irrevocable ones – many people quickly reply that they don’t like irrevocable trusts because they don’t like the idea that they are losing control of their assets. They much prefer a revocable trust. Each type of trust has its uses but