Blog

Don’t Become Liable for Your Parent’s Long Term Care Costs


Nursing homes may not require a child to guaranty a parent’s bill although some courts  may enforce a so-called “voluntary” guaranty.  Of course, in the stress filled admission of a parent to a care facility, a child may not realize that he/she is agreeing to a “voluntary” guaranty.  Care facility contracts frequently have other unfavorable provisions that can be difficult to understand or … Continue reading


How Old is Too Old to Drive?


Of course, it’s a “trick question.”  There is no bright age line between those who should and shouldn’t be driving.  As we all know, many factors beyond age influence whether an individual should drive.  As a car or other motor vehicle is a lethal weapon that can harm both the driver … Continue reading


Is a Reverse Mortgage Right for Most Seniors?


Reverse mortgages often are marketed as a way for seniors to get extra cash.  While they can be a godsend to some, they also come with negatives.  Reverse mortgages are available only to homeowners age 62 or above with significant home equity.   Thus, a senior isn’t likely to qualify for a reverse mortgage if the home … Continue reading


IRS Cracks Down on IRAs


While IRAs can be a great way to build up savings tax deferred, they also are fraught with traps for the unwary.  Penalties apply when an individual contributes to an IRA more than the Internal Revenue Code permits or fails to take the required minimum distribution.  IRS is turning its … Continue reading


Increase in Income Can Lead to Loss of Medicaid


A recent ruling by New Jersey’s Superior Court Appellate Division could cause people who realize increases in income to lose Medicaid unexpectedly.  Because the decision in S.J. v. Div. Medical Assistance (45-2-6607) has been approved for publication, it stands as precedent in New Jersey. In S.J. v. Div. Medical Assistance, adults whose income … Continue reading


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Homepage photo: Cows grazing at Meadowbrook Farm, Bernardsville, NJ by Siddharth Mallya. October 23, 2012. http://en.wikipedia.org/wiki/File:Autumn_Leaves_13.jpg.
Interior photo: Somerset hills pastoral scene by Lawrence Friedman.