During these unprecedented times, it is more important than ever to do Long-Term Care (Medicaid) Planning. This is especially true if you have health issues or if you have limited assets and worry you may face a long-term care crisis…
The Importance of Medicaid Planning
Author: Eric Goldberg
Medicaid-Complaint Annuities
A Medicaid-Complaint Annuity (“MCA”) is a single premium immediate fixed annuity that allows Medicaid applicants to convert a non-exempt asset into an income stream to provide immediate Medicaid eligibility. The Medicaid Rule: An individual must “spend down” assets to less…
What is a Guardianship and who needs one?
There are few circumstances in life more devastating than seeing a parent lose capacity and require the full care of a child or caregiver. Approximately 60% of people do not have a valid Power of Attorney appointing an agent to…
Loss Of A Loved One
An unfortunate by-product of the ongoing pandemic is that more families are being confronted with the prospect of settling a deceased loved one’s estate. This process, known as estate administration, is further complicated by the fact that many decedents either…
Medicaid Penalty Divisor Increases
The New Jersey Medicaid Penalty Divisor increased from $357.67 to $361.20. Why is this important to families who are applying for Medicaid now or who may apply in the next five years? First, we must answer the question: What is…
Trusted Advisor
As many of you know, NJELC at Goldberg Law Group is a full service elder law firm. But did you also know that we are just as passionate about estate planning for people 18-110? While we talk a lot about…
Tips For Helping Seniors During The Coronavirus
Over the last few weeks, our society has considered more than ever how we interact with our loved ones who are senior citizens. According to the CDC, older adults may be at higher risk for serious complications from COVID-19. While…
2020 New Jersey Medicaid Rates
Medicaid Income and Resource Allowances: The New Jersey Department of Health has issued resource and income allowances for the year 2020. All figures are effective as of January 1, 2020. Income Cap $2,349 Maximum Community Spousal Resoure Allowance (CSRA) $128,640…
Spousal Refusal: New York State Medicaid
Spouses have a legal duty to support each other. However, the astronomical costs of long-term care, such as home care or nursing home care, can bankrupt a “well” (i.e., healthy) community spouse. To protect community spouses from impoverishment themselves, New…
New York Voluntary Administration
Probate and administration proceedings in New York State can be time-consuming and costly, but New York law allows for a simplified proceeding called voluntary administration for small estates with a value below a certain threshold. Recently, the threshold was expanded…
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