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TOPICS IN MEDICAID PLANNING: July 2012

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Monday, July 30, 2012. Effect of Change in Penalty Rate. Planning may have been undertaken last year with the anticipation of a penalty rate of $7,282. Counsel should be cognizant of the effect of a change in the penalty rate on the date of eligibility. A) The period of ineligibility is determined with respect to the average nursing home cost as at the time of application: 42 U.S.C. 1396(c) (1) (E). Disclaimer: This article does not constitute leg...

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TOPICS IN MEDICAID PLANNING: January 2012

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Monday, January 30, 2012. Basic Concepts of Fiduciary Income Tax. Many individuals and even lawyers are under the impression that distributions of an estate are subject to income tax. This is a misconception. If the estate does not end within one year, capital gains are also distributed to the estate. Since the estate reaches maximum income at a much lower rate than an individual, accumulation of. The computation of d.n.i. is more comp...Also, the...

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TOPICS IN MEDICAID PLANNING: December 2011

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Tuesday, December 20, 2011. Advantages and Disadvantages of Owning Joint Property with a Sibling. It has been pointed out in prior blogs that a secondary residence held jointly with a sibling is an inaccessible resource if the sibling refuses to sell. Notwithstanding the fact that such ownership would not disqualify a person from Medicaid if the sibling refused to sell, there are some negative aspects to such planning. 169; December 2011, Post 177.

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TOPICS IN MEDICAID PLANNING: Review of Inaccessible Resources

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Tuesday, August 21, 2012. Review of Inaccessible Resources. In various posts, I have discussed the concept of inaccessible resources pursuant to N.J.A.C. 10:71-4.4(b)(6). Inaccessible resources are treated as excludable resources for Medicaid eligibility purposes. The theory is that a countable resource is only such that can be converted to monies to pay nursing home costs. Some examples of inaccessible resources are as follows:. We look forward t...

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TOPICS IN MEDICAID PLANNING: November 2011

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Tuesday, November 29, 2011. Disclaimer: This article does not constitute legal advice and each person may have unique facts for which legal consultation may be necessary. 169; November 2011, Post 173. Mark Levin, Attorney-at-Law. Monday, November 21, 2011. Purposes of a Buy-Sell Agreement. A buy-sell agreement has the following purposes:. 1 To set the value for estate tax purposes. 2 To provide liquidity to the estate of the shareholder. One might...

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TOPICS IN MEDICAID PLANNING: Matters to Consider When Putting an Ill Spouse in a Nursing Home

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Tuesday, July 17, 2012. Matters to Consider When Putting an Ill Spouse in a Nursing Home. Families are often conflicted as to when to put an ill spouse in a nursing home when the person is in the care of the community spouse. Although it is important that an individual live in the "least restrictive" environment, there is a point in time when nursing home admission is required. We are all faced with a community spouse who refuses to send the spous...

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TOPICS IN MEDICAID PLANNING: August 2011

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Monday, August 29, 2011. The "Pig" Theory in Elder Law. Numerous blogs have discussed excludable resources such as funeral expenses, expenses used to fix up the home, transfers to a disabled child, payments pursuant to a Caretaker Agreement, and related matters. Caretaker Agreements have been limited by the word "reasonable." Although Medicaid has not defined the word "reasonable", there is a subjective limitation limited by the "pig" theory.

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TOPICS IN MEDICAID PLANNING: Effect of Change in Penalty Rate

http://topicsinmedicaidplanning.blogspot.com/2012/07/effect-of-change-in-penalty-rate.html

TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Monday, July 30, 2012. Effect of Change in Penalty Rate. Planning may have been undertaken last year with the anticipation of a penalty rate of $7,282. Counsel should be cognizant of the effect of a change in the penalty rate on the date of eligibility. A) The period of ineligibility is determined with respect to the average nursing home cost as at the time of application: 42 U.S.C. 1396(c) (1) (E). Disclaimer: This article does not constitute leg...

topicsinmedicaidplanning.blogspot.com

TOPICS IN MEDICAID PLANNING: October 2011

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Monday, October 24, 2011. Basic Documents Needed by Clients in Estate Planning Revisited. In a prior post, I discussed the necessary documents for a client. There are several additional points, particularly with respect to joint holders of a power of attorney and joint holders of a living will that I think should be addressed. The basic documents for every person, particularly the elderly, are a will, a living will and a power of attorney. There i...

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TOPICS IN MEDICAID PLANNING: June 2012

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TOPICS IN MEDICAID PLANNING. Back to Mark Levin Law Site. Tuesday, June 26, 2012. The Problem of Second Marriages. On occasion, you will have clients who have been married twice, each of whom have children from an earlier marriage. The first issue is should you represent both of them. I think you can obtain a waiver and represent both of them, but that is not the question. Although the conflict can be waived, the question is should you waive the conflict. 169; June 2012, Post 202. Monday, June 18, 2012.