There are many, many people who put off the essential task of creating a will for themselves. They may know that they really need to do it, but keep procrastinating. They may think that since they’re not rich, it’s not that important. They may figure that their loved ones will…
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Should I Have a Revocable Living Trust?
Feb 14, 2017
Having a properly drafted Will is essential to any estate plan. However, many question whether a trust is beneficial, or even necessary, to their estate plan. There are many different types of trusts which serve many different purposes. One of the simplest and most common types of trusts are revocable living trusts…
What is a Short Sale Addendum?
Feb 13, 2017
If you are looking to purchase a home, pursuing a property that is available through a short sale may seem like an attractive option. These properties are generally made available at a price that is far less than would normally be expected because the seller has fallen short on their…
New Medicaid and Medicare Figures for 2017
Feb 07, 2017
The new minimum community spouse resource allowance (CSRA) is $24,180 and the maximum CSRA is $120,900. The maximum monthly maintenance needs allowance is $3,022.50. The minimum monthly maintenance needs allowance remains $2,002.50 ($2,502.50 for Alaska and $2,302.25 for Hawaii) until July 1, 2017. Income Cap The income cap for 2017…
New Jersey Estate Tax Repeal Update
Jan 31, 2017
By now, we all know that New Jersey is set to repeal its estate tax. New Jersey is one of two states that has two, separate death taxes; an estate tax and an inheritance tax. The New Jersey legislature recently voted to repeal the state’s estate tax as part of…
Attorney Charles “Chris” Bratton Receives 2017 “Emerging Growth Award”
Jan 12, 2017
For the second year in a row, Rothamel Bratton Attorneys is pleased to announce that Charles “Chris” Bratton has been selected to receive the 2017 “Emerging GrowthAward” for his Estate Planning and Elder Law practice. This award is being presented by New Jersey SmartCEO and Headline Sponsors Norris McLaughlin & Marcus P.A. and Wilkin…
What Could the Proposed Changes to Special Needs Trusts Mean for You?
Jan 12, 2017
If you have a loved one who has a disability, you know how important it is to make sure that their financial future is secured. Traditionally, family members set up a Special Needs Trust, which has the benefits of providing them with money in a way that does not jeopardize…
Grandparents: Think Twice Before Paying Tuition
Jan 11, 2017
A recent New Jersey appellate court case yielded bad luck to a grandmother who attempted to loan her daughter funds to pay for her granddaughter’s tuition. Medicaid, the federal program that will pay for long-term care objected to this type of transaction because the regulations classify this type of transfer…
Can I Get Paid For Taking Care Of My Parent Without Jeopardizing Medicaid?
Jan 11, 2017
A New York court recently held similar to the New Jersey rule that an agreement needs to be in place between a parent and caregiver child to provide care. Medicaid is the federal government program that will pay for long-term care. This program has a five-year lookback meaning they will…