Legal Question in Elder Law in New Jersey

Re: Assets

this is pretty complicated stuff and the cost of making a mistake is large and could keep your mom from getting the care she needs. generally there is a 36 month (60 months under certain circumstances)look back from the time you apply for medicaid to determine if any assets have been transferred without consideration (gifts). the value of the property transferred during the lookback period is then used to determine a period of ineligibility for benefits under medicaid. you are generally ineligible for 1 month for each $6050 transferred. there are many ways of positioning assets to avoid or greatly reduce the period of ineligibilty. if you need assistance with this type of planning, please do not hesitate to contact me. i have helped many families protect their hard earned assets and get their loved ones the care they need. it would be my pleasure to help yours.

peter