Medicaid and the Best Way to Title the Home
“Should I put the kids’ names on the deed?” “Should I take my wife’s name off the deed?” “Should I just sell the house now?” These and similar questions are some of the most important that clients ask...
View ArticleLife Estates in Medicaid Planning
Often an elder law attorney will suggest that clients transfer their home to their children, retaining a “life estate.” What does that mean, and what are the consequences of such an arrangement? When...
View ArticleMedicaid and Failure to Elect Against the Will of a Spouse
In a recent case in New Jersey a man died survived by his wife, who was then living in a nursing home. Under NJ law (as in most states) one spouse cannot disinherit the other spouse, no matter what the...
View ArticleMy Neighbor Told Me About His Medicaid Planning – Can’t I Do the Same Thing?
Clients sometimes come to me having already done some home-brew Medicaid planning, probably because they got some tips from their neighbor or simply were afraid of the perceived high cost of lawyers....
View ArticleReverse Mortgages and Medicaid
Many seniors are pitched the benefits of a “reverse mortgage” as a way to “unlock” the equity in their homes and pay for a better lifestyle. Does this make any sense? In what circumstances? What if one...
View ArticleLife Insurance and Medicaid Eligibility
In order to qualify for Medicaid coverage of your nursing home stay, your assets cannot exceed $2,000 if you are single, or $115,920 if you are married. However, not all of your assets are “countable”...
View ArticleMedicaid Estate Recovery: Exceptions
It’s not enough to qualify for Medicaid unless you also plan for the possibility of “estate recovery.” That’s when the state presents a bill to the estate of the person who had been receiving Medicaid,...
View ArticleMedicaid Estate Recovery: What to Do?
Merely qualifying for Medicaid is not enough if upon your death your family will have to pay back the state every dime of benefits it paid out on your behalf during your lifetime. There must be some...
View ArticleMedicaid Estate Recovery
You’ve met with your elder law attorney, you’ve come up with a plan of action, time has gone by, and your parent has entered the nursing home, with Medicaid paying the full cost. Your family members...
View ArticleVeterans and Medicaid
Under federal law, many veterans are entitled to a “pension” based on their active duty service during certain periods of war. This can amount to thousands of dollars a year, but they must apply for...
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