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…
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Income Cap Changes for Medicaid
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…
Medicare Co-payment Has Increased for Nursing Home Residents
If a person requires skilled care pursuant to the federal Medicare statute and is in a nursing home facility, then Medicare will pay a portion of that care in the facility. Medicare will pay for the first 20 days of…
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Increase in Medicare Part B Premium
Medicare has Parts A and B. Part A is often referred to as the hospital portion of Medicare coverage. Part B is usually referred to as the doctor’s portion of the Medicare program. Part B provides coverage for physician services,…
No Contest Provision in Will
Many Wills include a provision that provides for the forfeiture of a beneficiary’s rights to receive an inheritance if he or she contests the Will. According to a New Jersey Supreme Court decision that was rendered approximately 40 years ago,…
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