Lost Assets and Medicaid
What happens if you need to apply for Medicaid and you know there are assets but you can’t locate them? We were working with George to prepare his mother for Medicaid. He was spending down her remaining assets when he discovered some papers that suggested she might own some stock
An Update on Family Responsibility Laws
Two years ago I wrote about family or “filial” responsibility laws. What does the law say about a child’s responsibility to pay for a parent’s care? The population is continuing to age and the problem of long term care isn’t going away so what, if anything, has changed in the
How Mom’s Estate Plan Did More Harm than Good (Part 2)
Last week we were discussing Sue’s call to our office. Her brother, John, is 65 and disabled, living in senior housing. He now needs aides to assist him and she told me his income is $1900. But, then she told me about the trust that Mom had set up for
How Mom’s Estate Plan Did More Harm than Good
Sue called concerning her brother, John, who is 65 and disabled. “He has cerebral palsy”, she told me, “and he is wheelchair bound. He lives in senior housing and needs aides to assist him. Someone told me he is eligible for Medicaid because he has nothing other than his Social
Is Hiding Assets in Mom’s Name a Good Idea? (Part 2)
Last week we talking about Jennifer’s problem, which she didn’t realize was a problem until she spoke with us. She had been hiding her assets in her mother’s name to keep them out of the reach of her husband, who she was thinking she might divorce. I told her that
Is Hiding Assets in Mom’s Name a Good Idea?
Jennifer told me that her mom’s health had been deteriorating over the past few years and that she would probably need home care soon, with nursing home level care a definite possibility in a few years, if not earlier. She then told me that her marriage was “on the rocks”
How is Co-Ownership Treated by Medicaid?
Joe was confused. He told me his mom had added his name as co-owner on her bank account more than 5 years ago, after he spoke with his friend, John who explained that by adding his name to the deed to his mother’s home, he had protected the home when
Changes in Hospitals’ Treatment of Medicare Patients (Part 2)
Last week we were talking about Medicare’s Affordable Care Act and how the government is trying to reduce Medicare costs by targeting the problem of readmissions. Beginning last October, Medicare began penalizing hospitals for having too many readmissions. So, what has the impact been in New Jersey over the past
Changes in Hospitals’ Treatment of Medicare Patients
For years hospitals have struggled with the readmission rates of their elderly and disabled patients, those on Medicare. Government spending on Medicare reached nearly $600 billion last year with a quarter of that cost attributed to hospital inpatient services. That number is projected to grow 4% a year. Last year, under
A Power of Attorney Gone Wrong (Part 2)
Last week we were discussing John Potter’s plight. He executed a power of attorney in favor of his daughter and she transferred the home to herself, without his knowledge, even though the document didn’t give her the power to do so. Then, why didn’t he get his house back? The news