Individuals preparing for retirement usually need to think carefully about their comfort as they age, and also the legacy that they’ll leave after they die. The plans they establish early in retirement can help protect them and the people they love. Many people...
Medicaid Planning And Asset Protection
Medicaid planning if you own a vacation home
Medicaid planning is a subject that is seldom discussed in society. As a result, many people are unaware that they need to take certain steps if they eventually need to qualify for benefits. In New Jersey, Medicaid eligibility involves strict asset limits, which can...
Aging in place may require Medicaid coverage
Some New Jersey residents recognize when planning for retirement that they may require Medicaid. A family history of Alzheimer's disease or serious age-related decline might inspire someone to plan for nursing home care. They may have already experienced medical...
Medicaid’s five-year look-back program
Medicaid is a program designed to assist elderly individuals with low incomes in paying for medical expenses. When a senior applies for the program, Medicaid conducts a five-year look-back or analysis. Applicants must meet strict eligibility criteria, which will be...
Important information about a Medicaid spend down
Qualifying for Medicaid coverage requires you to meet several requirements. One of these is to have an income or assets that are under a set threshold. For those who do not meet this threshold, it is possible to “spend down” or reduce their income and assets to...
Common mistakes to avoid when planning for Medicaid
Medicaid is a health insurance scheme that is designed to provide health coverage as well as other related services to America’s most economically vulnerable citizens, including low-income seniors as well as low-income individuals with disabilities. Jointly funded by...
How much can Medicaid take from someone’s estate?
People don't like to think about needing Medicaid benefits as they get older. Many individuals associate Medicaid with poverty and with a loss of control over their assets. However, the truth is that Medicaid benefits are necessary for many older adults as their...
Why have an attorney help with your Medicaid application?
While lots of people submit Medicaid applications independently, having an attorney to advise you and process these forms on your behalf is highly beneficial. Especially if the government denies your application, an experienced legal professional can help explain the...
My long-term Medicaid claim has been denied. What do I do?
The process of applying for long-term care through Medicaid can be overwhelming. And if your claim is denied, the experience can become even more stressful and devastating. Fortunately, a denied Medicaid is never the end of the road for you. You can appeal a denied...
Financial power of attorney and nursing home care
One important component of an estate plan is setting up the power of attorney designations. There’s one for health care and another for finances. For individuals who are likely to need nursing home care in the future, having a financial power of attorney established...