For additional information concerning special needs trusts and disability planning, visit: NJ Special Needs Trusts and Disability Planning For additional information concerning New Jersey elder law, visit: NJ Elder Law and Estate Planning Services read more →

New Jersey Medicaid may not count IRAs, 401(k) and pension plans owned by the spouse of an applicant in determining eligibility if funds may be withdrawn only by borrowing against the retirement assets. Avery v. Union County Division of Social Services Rose Avery admitted her husband, Friend Avery, to a nursing home in July 1997. After.. read more →

A federal district court judge in New Jersey granted a Medicaid applicant’s motion for a preliminary injunction, thereby enjoining the State from counting an annuity owned by her husband as an available resource in determining her eligibility for Medicaid. Flamini v. Velez, Civil No. 1:12-cv-07304 (D.N.J. July 19, 2013) Elizabeth Flamini entered a skilled nursing.. read more →

Earlier this year the New York State Legislature, prompted by the Governor’s Medicaid Redesign Team, amended Section 369 of the Social Services Law to increase New York’s right to recover money from the estate of a deceased Medicaid recipient. The amendment expands the definition of the term “estate” in the Medicaid Law to include non-probate.. read more →

In May of this year, the Internal Revenue Service provided guidance on when a taxpayer may avoid the 10% penalty on IRA distributions before age 59 by claiming to be disabled. In Chief Counsel Advice 200922041, the IRS explained the meaning of “disabled” as it relates to Internal Revenue Code 72(m)(7), the disability exception to.. read more →

The battle for a secure retirement is about to get even tougher. Several new surveys of company executives show that they plan to reduce or suspend their company’s retirement-plan contributions this year.  Dozens of employers in the past year have already slashed such costs.  The trend means one important thing for workers: smaller nest eggs,.. read more →

Congress approved legislation that would allow retirees to defer withdrawals from their 401(k) plans and individual retirement accounts in 2009 without triggering a penalty. President Bush is expected to sign the bill. Ordinarily, seniors age 70½ and older are required to withdraw a minimum amount from their tax-deferred retirement savings plans every year and pay.. read more →