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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Tag Archives for: "Medicaid"
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 Will 55-Year Old’s House Be Subject to Medicaid Estate Recovery Upon her Death?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted October 5, 2020

Will 55-Year Old’s House Be Subject to Medicaid Estate Recovery Upon her Death?

Question: I am 55, live in New Jersey and received Medicaid. I have a 14-year-old child living with me. I own a house. If one day I pass away, will the state seek estate recovery for the money I [...]

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 Can a Special Needs Trust for a Minor Pay for Housing for the Entire Family?
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By Harry Margolis
In Special Needs Planning
Posted April 30, 2020

Can a Special Needs Trust for a Minor Pay for Housing for the Entire Family?

Question: Can a special needs trust for a minor child pay the parents’ mortgage or rent? What about buying a house that the whole family lives in? Response: This is a common question where [...]

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 Is a Life Estate a Good Way to Avoid Probate?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted January 31, 2020

Is a Life Estate a Good Way to Avoid Probate?

Question: My mother-in-law has been given approximately six months to a year to live and would like to pass the house to my husband, her only child, and avoid probate. Would a life estate deed [...]

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 Can Tax Payments be Part of Medicaid Spend Down?
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By Harry Margolis
In Long-Term Care Planning
Posted December 27, 2019

Can Tax Payments be Part of Medicaid Spend Down?

Question: When a husband is about to apply for Medicaid long-term care benefits, and a community-spouse (non-applicant) wife is trying to reduce her assets below the limit of about $130,000, what [...]

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 What Should I Do with My Uncle’s Income So He Can Be Eligible for Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted December 13, 2019

What Should I Do with My Uncle’s Income So He Can Be Eligible for Medicaid?

Question: I am POA (Power of Attorney) for my 91-year-old uncle. For the past 2.5 years, he has been enrolled with MassHealth PACE. He receives about $1,300 a month combined from Social Security [...]

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 Will Transfer of Life Insurance Affect Mother’s Eligibility for Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted November 5, 2019

Will Transfer of Life Insurance Affect Mother’s Eligibility for Medicaid?

Question: I need to sell my mother’s life insurance policy to bring down her assets to qualify for Medicaid, but it doesn’t have enough value to prepay for her funeral. The insurance [...]

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 If House is Placed in Irrevocable Trust, will Line of Credit be Countable by Medicaid?
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By Harry Margolis
In Long-Term Care Planning
Posted October 29, 2019

If House is Placed in Irrevocable Trust, will Line of Credit be Countable by Medicaid?

Question: If property has a line of credit from a reverse mortgage available before being placed in an irrevocable trust, can Medicaid consider the line of credit as a countable asset while in [...]

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 Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?

Question: Is there a way to create a grantor “irrevocable trust” that allows the beneficiaries to receive a step-up in basis of a home at death? If so, can this be considered a gift [...]

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 Can Community Spouse Keep Proceeds of Sale of Home?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Community Spouse Keep Proceeds of Sale of Home?

Question: Spouse is in nursing home on Medicaid. Well spouse is allowed to keep their home. Is the well spouse allowed to sell the home and rent in a cheaper neighborhood or purchase a condo or [...]

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 How Can I Protect IRA from Medicaid Spend Down if I Go to a Nursing Home?
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By Harry Margolis
In Long-Term Care Planning
Posted August 26, 2019

How Can I Protect IRA from Medicaid Spend Down if I Go to a Nursing Home?

Question: I am 72 years old and in fair to poor health. My wife is 70 and in good health. We have two children—42 and 40. We own our home mortgage-free and have several thousand dollars in mutual [...]

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Categories
  • Asset Protection (32)
  • Charitable Giving (9)
  • Durable Powers of Attorney (34)
  • Estate and Gift Taxes (36)
  • Health Care Directives (12)
  • Irrevocable Trusts (6)
  • Long-Term Care Planning (135)
  • Non-Traditional Families (11)
  • Non-US Citizens (13)
  • Pets (3)
  • Practical Matters (15)
  • Probate (18)
  • Property in Other Countries (3)
  • Real Estate (29)
  • Retirement Plans (10)
  • Revocable Trusts (62)
  • Second Marriages (9)
  • Social Security (16)
  • Special Needs Planning (58)
  • Trustee (44)
  • Vacation Homes (3)
  • Wills (37)
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