Last week, in the case entitled J.G. v. Division of Medical Assistance and Health Services and the Morris County Board of Social Services, the Appellate Division of the Superior Court ruled that monthly payments from an annuity are considered solely as income for purposes of determining the rights of a Community Spouse to receive a […]
Part 2: Consequences of Gifts Throughout our lives, many of us desire to divest part of our estate to others. There are a variety of reasons for doing so, including tax avoidance, protection against long term care costs, charitable inclination, and the mere desire to make family members and friends happy. However, there are often […]
Part 1: Types of Gifts Throughout our lives, many of us desire to divest part of our estate to others. There are variety of reasons for doing so including tax avoidance, protection against long term care costs, charitable inclination, and the mere desire to make family members and friends happy. However, there are often certain […]
In two recent cases, courts in Alabama and New York have deemed that the assets in Special Needs Trust which they have reviewed are available resources and must be spent down entirely prior to the beneficiaries of same receiving Medicaid or other needs based government benefits. In Alabama Medicaid Agency v. Hardy (Ala. Civ. App., No. […]
Jean M. O’Mealia died on April 21, 2014. She was predeceased by her husband, William Francis Xavier O’Mealia (“Francis”), who died on July 13, 2001. The couple had been married for thirty (30) years. It was the second marriage for both. They had no children together. Each had children from a prior marriage. Upon her […]
By Brittany A. Verga, Esq. The child caregiver exemption is an important exception to the five year lookback rule in Medicaid planning. For many years, it has allowed children to retain the homes of parents for whom they have provided long-term care. However, the ability to qualify for this exemption is being severely limited. The […]
All of us want to make sure we keep important original documents. Problems certainly can arise if one loses bonds, stock certificates or their Will. However, one document which can be lost without any negative repercussion is a Deed. When an individual takes title to a home, his or her deed is recorded in the […]
Pre-nuptial agreements have been around for many years. Historically, they have rightly been viewed as a creation to provide assurance to individuals about to enter marriage that their assets would be protected in a manner they deemed fit in the event of a divorce. To some extent, there has often been attention provided to the […]
Years ago, there were a series of commercials in which ordinary folks would go into operating rooms to perform surgeries, fly helicopters and ride bulls. Of course, they would have no training or qualifications. Yet when asked if they were a doctor or a pilot, etc, they would also respond, “No, but I did spend […]
Any adult should have three core estate planning documents: (a) a will, (b) an advance directive (commonly known as a living will and/or health care power of attorney) and (c) a general durable power of attorney. To the extent, personal and financial factors warrant it, one or more trusts may be advisable. After they are […]
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