The cost of long-term care can be catastrophic. Many families deplete their life savings and assets on the cost of this care. Fortunately, there are federal and state laws that protect the healthier spouse from being impoverished. These laws and…
Read More Change in Medicaid Laws Protect More Assets for Married Couple
The National Academy of Elder Law Attorneys (NAELA) has designated the month of May as National Elder Law Month. Elder law is an area of legal practice that focuses on issues relating to the aging population. This may include protecting…
The federal government has an estate tax that applies to estates that are worth a significant amount. New Jersey used to have an estate tax but it was phased out. In 2017 the exemption from the New Jersey estate tax…
If you provide too much money as a gift to someone during a year then you may have to file a gift tax return with the IRS. The gift tax return is known as Form 709. If the total gifts…
In order to qualify for Medicaid assistance, an individual’s gross monthly income must be less than the Medicaid income cap. If a person’s gross monthly income is greater than the Medicaid income cap then he or she will not qualify…
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