Law Offices of Jeffrey A. Asher, PLLC

What is a Pooled Income Trust?

Jeffrey A. Asher — Fri, 02 Feb 2018 23:05:24 +0000

What is a Pooled Income Trust? Under current New York law, a single individual receiving community-based Medicaid benefits may retain $842 of their income. Any monthly income over that amount must be spent on medical care or home care services before Medicaid will begin paying for care at home. Unfortunately, excess income cannot be spent...

What to Know Before Adding a Reverse Mortgage to Your Retirement Plan

Jeffrey A. Asher — Thu, 22 Dec 2016 23:08:47 +0000

New Jersey Medicaid

Eric Goldberg — Tue, 22 Nov 2016 01:59:57 +0000

There are five criteria an individual must satisfy in order to qualify for New Jersey long term care Medicaid for seniors (known as Medicaid Managed Long Term Services and Supports). First, the applicant must be a United States Citizen or an Eligible Alien. An Eligible Alien is an individual who has lived in the US...

What is a Living Trust and Why Do You Need One?

Jeffrey A. Asher — Tue, 08 Nov 2016 06:57:41 +0000

What is a Living Trust? A Living Trust (not to be confused with a Living Will) is an estate planning legal document that is similar to a Will, but accomplishes more than just passing out your assets upon your death. Unlike a Will, a Living Trust is effective as soon as you sign it. A...

The Top 4 Estate Planning Documents

Jeffrey A. Asher — Tue, 10 May 2016 19:26:04 +0000

Estate Planning is applying the law of property, trusts, wills, insurance, and taxation to the ordering of one’s affairs, while keeping in mind the possibility of retirement and the certainty of death. Estate Planning is controlling your property while you are alive and well, planning for yourself and your loved ones in case you become...

The Real Tragedy of Prince’s Death

Jeffrey A. Asher — Fri, 06 May 2016 14:48:44 +0000

In the 1990s, Prince’s war with his record label was monumental. Prince argued, quite publicly, that his record label owned and controlled his name as well as any music released under that name. Prince passionately believed that artists must remain the owner of their own art. This belief resulted in Prince refusing to use his...

An Heir to Prince?

Jeffrey A. Asher — Thu, 05 May 2016 15:29:44 +0000

A man, born in Minnesota in the 1980s, claims he is a child of Prince. This man, who remains unnamed, claims that he was born as a result of a “fling”. But, whether that “fling” turns into a $300-plus million dollar inheritance will be determined by DNA tests. Heir Hunters International, a Los Angeles based...

Prince’s Sister Says Superstar Had No Known Will: Court Documents

Jeffrey A. Asher — Tue, 26 Apr 2016 18:40:54 +0000

Under Minnesota law, if Prince died without a spouse (and we are not certain, at this time, that he was not married at the time of his death), then his estate would pass to his children. While we know that Prince had a son who died shortly after birth, we do not know, for sure,...

New York Nursing Home Medicaid Planning

Jeffrey A. Asher — Tue, 08 Mar 2016 20:52:01 +0000

There are generally two types of Medicaid coverage: Medicaid home care (also referred to as community based Medicaid), which provides home health care, some hospital coverage, doctor appointments, medications, etc. And, Medicaid nursing home care (also referred to as institutional Medicaid), which is care in a skilled nursing facility or similar institution. Medicaid Benefits To...

New York Home Care Medicaid Planning

Jeffrey A. Asher — Tue, 08 Mar 2016 15:27:14 +0000

There are generally two types of Medicaid: Home care (or Community) Medicaid and nursing home (or Institutional) Medicaid. To qualify for either type of Medicaid, in New York (in 2016), an individual cannot have more than $14,850 in non-exempt assets. Exempt assets generally include, among other things, your home (provided that the equity in your...

What it Means to Be an Executor

Jeffrey A. Asher — Thu, 04 Feb 2016 01:54:31 +0000

Whether you are called an executor or administrator, or anything in-between, your job is relatively the same. Marshal the assets of the estate, pay the legitimate claims of the decedent, dispose of the illegitimate claims against the decedent, distribute the net estate pursuant to the terms of the dispositive instrument and/or state law, as the...

Why you should use an Elder Law Attorney for your Medicaid Application

Eric Goldberg — Sun, 24 Jan 2016 14:00:19 +0000

Medicaid is an extremely complicated yet valuable program that can provide health care services to a senior living at home, in an Assisted Living Facility, or in a Skilled Nursing Facility. We meet with many families who have tried unsuccessfully, or are in the process of applying for Medicaid, who require guidance in order to...

Estate Planning Online

Jeffrey A. Asher, posted from eCareDiary.com — Sun, 03 Jan 2016 20:24:15 +0000

Question: Can I use an online form for estate planning? Answer: You could, but you should not. The problem with online forms, and whatever other form of online estate planning DIY, is that (a) they are not likely prepared with the review of a qualified estate planning attorney, and (b) they are not likely state-specific....

Reverse Mortgages in Estate Planning and Elder Law

Jeffrey A. Asher — Sat, 10 Oct 2015 04:00:48 +0000

LTC Insurance and an Effective Elder Care Plan

Jeffrey A. Asher — Mon, 28 Sep 2015 04:00:02 +0000

Role of Life Insurance in Estate Planning

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 10 Sep 2015 00:00:10 +0000

Question: What role does life insurance play in estate planning? Answer: Life insurance can play a tremendous role in estate planning. For example, life insurance can provide liquidity to pay off the mortgage after the death of one of the spouses. Sometimes called “mortgage insurance”, life insurance can help ensure that the surviving spouse won’t...

Appointing a Power of Attorney

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 13 Aug 2015 00:00:00 +0000

Question: Whom should I appoint as my agent for my Power of Attorney? Answer: The agent under your Power of Attorney is a Very Important Person. His/her job is to make your financial decisions in the event you are unable to make your own financial decisions because of an incapacity or otherwise. Your agent may...

Will a Self-Prepared Estate Plan be Executed Well?

Jeffrey A. Asher, posted from eCareDiary.com — Fri, 17 Jul 2015 00:00:20 +0000

Question: I would like to prepare my estate plan by myself. How will I know if my plan is executed well after I am gone? Answer: Unfortunately, if you are preparing your estate plan by yourself, without any review by a qualified attorney, then you won’t know if your plan is executed well. You will...

Health Care Proxies for Minor Children

Jeffrey A. Asher — Fri, 27 Mar 2015 00:00:28 +0000

IRS Issues Long-Term Care Premium Deductibility Limits for 2015

Jeffrey A. Asher — Mon, 05 Jan 2015 00:00:43 +0000

Estate Planning for an Ailing Senior

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 25 Sep 2014 04:00:59 +0000

Question: My mom’s health is failing rapidly. What should I do to get ready to handle her decisions in the event she becomes mentally incapacitated? Answer: The best thing to have in these situations is both a Health Care Proxy and a Power of Attorney. A Health Care Proxy is a legal document signed by...

How to Respond to the Facility Telling You Your Loved One Has “Plateaud”.

Jeffrey A. Asher — Mon, 13 Jan 2014 22:47:39 +0000

The best way to keep Medicare covered skilled maintenance care in place is to know your loved one’s rights and have the support of your loved one’s physician. Your loved one should not lose access to therapy because he or she will not improve or because he or she has reached the financial cap. Here...

What are Estate Taxes?

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 15 Aug 2013 04:00:47 +0000

Question: What are estate taxes? Answer: Estate taxes, or what are sometimes called death taxes, or inheritance taxes, are generally owed and paid on the value of property in someone’s estate when they die. There is a federal estate tax and there are states that impose state estate taxes, although not every state has an...

Estate Planning for Same-Sex Couples After the Demise of DOMA

Jeffrey A. Asher — Sun, 28 Jul 2013 00:00:20 +0000

Protecting Your Parents’ Assets

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 08 Dec 2011 00:00:40 +0000

Question: My parent was just diagnosed with a progressive disease. How do I help protect my parent’s assets? Answer: Learning that your parent was just diagnosed with a progressive disease, whether it be Alzheimer’s disease, Parkinson’s disease, cancer, stroke, for example, is a devastating and life-changing event. Beside the unknown of what is going to...

Can Medicaid Take My Home Away From Me?

Jeffrey A. Asher, posted from eCareDiary.com — Thu, 07 Jul 2011 00:00:33 +0000

Question: Can Medicaid Take My Home Away From Me? Answer: No. A home is exempt from Medicaid for so long as it has an equity value of less than $750,000, and it is the Medicaid applicant’s primary residence or the primary residence of a spouse, minor child, or an adult child who is certified blind...

Issues Facing Clients with Non-Citizen Spouses

Jeffrey A. Asher — Wed, 15 Dec 2010 00:00:02 +0000

Issues Facing Clients with Real Estate in More Than One State

Jeffrey A. Asher — Wed, 02 Dec 2009 00:00:05 +0000

Get Your Legal and Financial Houses in Order

Jeffrey A. Asher — Wed, 28 Oct 2009 00:00:46 +0000