Transfers during the look-back merely raise presumption of intent to qualify for Medicaid
When a medicaid application is processed, five years’ of transactions are examined, and among other things, they look to see if there were uncompensated transfers or “gifts.” The agency then must presume that the transfers were made for the purpose of expediting eligibility, and can impose a transfer penalty for the gifts. You are entitled to a Fair Hearing at the Office of...
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...
Special Needs Trusts play Vital Role for SSI & Medicaid Recipients
A person with disabilities who is incapable of engaging in substantial gainful activity for self-support in the competititve workplace may be receiving Supplemental Security Income (SSI) and the Medicaid benefits for health care that accompany the SSI. http://www.state.nj.us/humanservices/dmahs/clients/medicaid/abd/index.html The person may reside in the community, in an assisted living...
Caregiver Child Payments under Medicaid and VA Pension
In the realm of elder care, a child who resides in their parent’s home and provides the care, assistance and supervision needed to enable the parent to remain in the community is typically referred to as the “caregiver child.” Sometimes — oftentimes — the child is giving up other jobs or income in order to provide this caregiving. Frequently the parent wishes to...
Trust & Transfer Planning for VA Benefits may not be effective for Medicaid Planning
A Medicaid application for nursing home level services is not filed until your countable, available assets are below a specific limit. Transfers (gifts) and Trusts can be used in certain circumstances. When our attorneys are analyzing the laws and developing your asset protection plan, the two major issues in this regard are (1) whether the funds in the Trust continue to be countable assets,...
Was it a Gift or a Loan? What do your Other Kids Think?
Many times over the years, as we work on their estate planning, my senior clients have told me that they gave a substantial sum to one of their children to help them with a specific need. Perhaps it was to pay off debt, or buy a house, or start a business, or pay for college expenses for their own children. Whatever the reason, an important legal question comes up: “Was this a gift or a...
What is the Face of Medicaid?
Medicaid is considered a poverty program but it actually provides benefits to many middle class families. This is in the form of payment for long-term care in institutional and home-based settings. Medicaid also assists many disabled children, and disabled adults under 65. The “face” of Medicaid is as diverse as New Jersey itself!!
Fink Rosner Ershow-Levenberg LLC can help you navigate the...