Get ready for a wild ride when filing a NJ Medicaid application
Growing old doesn’t mean that people stop taking care of their family members and think only about themselves. Families expand. Children may enter second marriages. The grandchildren get married. A child may run into financial trouble, lose their job or become medically disabled. Loving families support each other and that often means that people will share their home with the next...
Veterans Administration proposes look-back for special pension program
Presently, the VA Special Pension program bases eligibility on a “snapshot” of the income, expenses and very low assets of the applicant as of the time of the application. There is no specific asset limit, no look-back or transfer penalty (unlike Medicaid), and the applicant’s income is offset by qualified recurring medical expenses to see if the remaining income is below the...
Multi-generational Living can be a lifesaver, but keep good records
Recent new reports show an uptick in the construction of “oversized” houses designed to accommodate three generations of a family. The aging or disabled parents may move in with their middle-aged child, and then the working child in their 20’s may move in as well to have a more affordable living arrangement. For the generation who are aging or have disabilities, who may need...