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
Medicaid’s Spend Down – Don’t Get Caught Short (Part 2)
Last week we were discussing Jeff’s difficulties spending down his mom’s remaining assets, not getting caught with too much at the end of the month to qualify for Medicaid, but not enough to cover the private pay rate. So how does one avoid this Medicaid “trap”? As we approached the final
Medicaid’s Spend Down – Don’t Get Caught Short
We had been working with Jeff to prepare for an eventual Medicaid application to be filed on his mother’s behalf. Much of that work involved reviewing the 5 years of records, Medicaid’s look back period. But we also needed to coordinate the spend down as we were nearing the target
Long Term Care Planning – Should I Wait and See? Part 2
Kelly had originally called us 7 years ago. Her dad had recently fallen in his home and Kelly recognized the need for someone to come into his home to help him. At that time she felt that only a few hours a day was all that was necessary and once
Long Term Care Planning – Should I Wait and See?
I consistently emphasize that we can achieve the most favorable results for our clients with the benefit of time, meaning we want to work with clients as far as possible before they reach crisis mode. I know, however, that there is a general resistance to taking action. Long term care
What Happens When the Healthy Spouse Dies Before the Medicaid Spouse? Part 2
Last week we were discussing Judy’s problem with Medicaid. Her dad, Joe, was about to lose his Medicaid status unless he complied with New Jersey’s elective share law, something Judy had never heard of. I explained to Judy that many states have such a law. It is designed to protect an unsuspecting