Last week, New Jersey Medicaid announced a simplified process for applying for Medicaid for people with income below the federal poverty level who haven’t made gifts. We wrote about that in a blog post last week. This simplified process for some applicants is a welcome development. Unfortunately, however, as is often the case with Medicaid, it’s not […]
Today, New Jersey Medicaid issued a MedComm (Medicaid Communication) saying that applicants with incomes under the federal poverty level (currently $983 / month) can use an affidavit in lieu of the lookback review. When applying for long term care Medicaid benefits, the Medicaid agency usually requires you to submit five years’ worth of statements for all […]
The idea is being floated that New Jersey create a mechanism for “pre-mortem probate” – a court approving your will before you die. When an individual dies, their will must be probated, or approved by a court, before the assets under their will can be distributed. Usually probate is a smooth and easy process, but […]
The New Jersey ABLE Act became law today. Under the ABLE program, persons who became disabled before age 26 can open an ABLE account, and become the beneficiary of that account. The beneficiary and their family or friends can contribute up to the amount of the annual gift tax exclusion to an ABLE account (currently […]
Happy New Year! Welcome to 2016. It’s the season for new year resolutions, and in addition to losing weight and quitting smoking, we have a suggestion: getting your legal affairs in order. That could mean creating an estate plan for the first time. Having a quality will, power of attorney and healthcare directive is important, […]
