MEDICAID AND THE HOME – PART 2
by Thomas D. Begley, Jr., CELA This is the second part of a two-part series on Medicaid and the home. The previous article discussed the circumstances under which the home would be a non-countable asset, the five forms of ownership, income and real state taxation, estate recovery, risk factors, and exempt transfers. This article will…
THE MEDICAID PAYBACK: HOW DOES IT REALLY WORK?
by Thomas D. Begley, Jr., Esquire, CELA The Medicaid payback in a personal injury case can often have four components. These are: the lien against the settlement, Special Needs Trust payback, estate recovery, and ABLE account payback. This article will briefly discuss each of the four components in a general way, but there are exceptions that…
THE INTERPLAY BETWEEN SPECIAL NEEDS TRUSTS AND ABLE ACCOUNTS IN PERSONAL INJURY CASES
by Thomas D. Begley, Jr., Esquire, CELA Personal injury plaintiffs who suffer from disabilities and are required to establish Self-Settled Special Needs Trusts in order to maintain their public benefits should consider establishing an ABLE account at the same time. While most people consider the tax-free income of an ABLE account to be a…
Financing Long-Term Care In New Jersey 2019
Statistics show that approximately 70% of the population age 65 or over will require some form of long-term care. Some will be there for relatively short periods of time. These are usually stroke or accident victims or surgery patients who are doing rehabilitation. A significant percentage will remain in a nursing home for an extended…