When Mitt Romney turned 65 on March 12, 2012, he joined nearly all Americans in becoming eligible for Medicare, but Romney declined to enroll. Was this a smart move aside from any political advantage? You can apply for Medicare three months before turning age 65. If you receive Social Security, you should automatically be enrolled […]
EDITOR’S NOTE- This article is by guest blogger Stephanie Lopez of HomeInsurance.org, and FriedmanLaw thanks Stephanie for taking the time to address this important topic. If you have a special needs child, you should take the time to prepare a letter of intent for your child. This will help any caregivers your child may have […]
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 exempts from federal estate tax the first $5 million of a decedent’s taxable estate. In 2012, inflation adjustments increased the exemption to $5,120,000. However, the exemption is scheduled to drop to $1 million after 2012 unless Congress intervenes. Because each decedent has his/her […]
There is no easy answer to this deceptively simple question. Like other insurance, long term care insurance (“LTCI”) comes with many options and can prove surprisingly complex. For instance, many consumers are uncertain what their LTCI does and doesn’t cover. First, it’s important to understand that medical insurance rarely covers long term care, and LTCI […]
When a Medicaid recipient passes away, the state can recover Medicaid expenditures from the individual’s probate estate and perhaps from other assets in which the individual once had an interest. As explained in greater detail throughout SpecialNeedsNJ.com, individuals may employ various planning techniques to preserve savings and qualify for Medicid to fund long term care. […]