According to applicable federal law, Social Security benefits are evaluated on an annual basis and the benefits are then calculated based upon the cost-of-living as measured by the Department of Labor Consumer Price Index (DPI). An increase in the Social…
Read More Social Security Will Increase by Almost 9% in 2023
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
According to N.J.A.C. 10:49-14.1 (n) (1), the State of New Jersey is not allowed to impose a Medicaid lien against a life estate. According to both federal and state law, the State of New Jersey is required to impose a…
An individual who requires long-term care will be eligible for Medicaid if the assets are spent down to less than $2,000. There are both federal and state Medicaid laws, however, that prevent a person from gifting assets to family members…
Read More Medicaid Laws Allow the Transfer of Assets to a Disabled Individual
A person must own less than $2,000 of resources in order to obtain Medicaid assistance to pay for long-term care. Both federal and state laws prohibit an individual from gifting assets within five years of the Medicaid application in order…
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