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New York State has implemented new regulations effective September 8, 2011 that have “Expanded” Medicaid Estate Recovery.
In the past, New York State (NYS) was limited to recover against the estate of the Medicaid recipient as to assets passing under a Will or by intestacy (when there is no will). As a practical matter, generally, Medicaid recovery would occur when a Medicaid recipient retained ownership of his or her home while receiving Medicaid benefits. There are other restrictions on NYS as to Medicaid estate recovery which is not covered in this article.
View or Download The Theresa Pooled Trust brochure in pdf format.
Our time with our daughter, Theresa, was precious.
As it should be for all parents.
It’s now been over five years since Terry Shiavo passed away in front of our eyes on the national stage.
Sitting on the beach, I wondered… how many grains of sand are there?
So, was it fair that Armando Galarraga of the Detroit Tigers did not get his perfect game.
It ain’t over til it’s over
– The great Yogi Berra
Time is on my side – Yes it is
Great lyrics by the Rolling Stones!
When Life gives you lemons, make lemonade.
I love this mantra –
With the New Year, come the NEW Federal Estate Tax laws. Congress has done it again. We now have new gift and estate tax laws for 2011 and 2012, but in 2013 the estate tax laws revert to the old laws: a $1 million exemption with a top tax rate of 55%. There are also provisions that retroactively change the federal estate tax laws for 2010.