How Do Stimulus Checks Affect Public Benefits?
by Thomas D. Begley, Jr., Esquire, CELA Stimulus Payments U.S. residents who have an adjusted gross income (AGI) of up to $99,000 for individuals, $112,500 for head of household filers, and $150,000 for married couples filing joint returns are eligible for stimulus checks from the federal government, because of the COVID-19 pandemic. Parents are also eligible…
MEDICAID AND THE HOME – PART 2
by Thomas D. Begley, Jr., CELA [Article originally published in Straight Word] 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,…
MEDICAID AND THE HOME – PART 1
by Thomas D. Begley, Jr., CELA This is the first part of a two-part series on Medicaid and the home. The most valuable asset that most Medicaid planning clients have is their home. They also have very strong emotional attachments to the home. There are a number of strategies available…
TAX CONSIDERATIONS IN PLANNING FOR LONG-TERM CARE
by Thomas D. Begley, Jr., CELA [Article originally published in Straight Word] Long-term care in New Jersey is expensive. According to Genworth, in 2017 monthly costs of care in New Jersey were as follows: homemaker services – $4,195, home health aide – $4,385, assisted living facility $5,811, semi-private room in nursing home – $10,038, and…