Call Now for an Appointment (973) 383-7415
oseph M. Hoffmann, Esq.
Attorney at Law
Wills, Trusts, Estates & Planning
21 Main Street, Newton, NJ 07860
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MEDICAID ELIGIBILITY
RESOURCES - Resources cannot exceed $2,000 under Medicaid Only, or $4,000
under Medically Needy.
HOME
- Your primary residence and lot are excluded if occupied by the
institutionalized person or the community spouse. Absence of more
than six months
creates a presumption that the home no longer serves as the principal residence.
AUTOMOBILE - One automobile is
exempt.
PERSONAL EFFECTS AND HOUSEHOLD GOODS ARE EXEMPT
WEDDING RING AND ENGAGEMENT RING ARE EXEMPT
MEDICAL EQUIPMENT
IS EXEMPT - Needed by an institutionalized person
or a member of his/her household.
BURIAL FUND - A prepaid funeral is permitted
provided the funeral director
places the payment in an irrevocable trust for this purpose or, provided that a life
insurance policy
is irrevocably assigned to the funeral director.
INACCESSIBLE RESOURCES - Resources which cannot be liquidated are
considered
inaccessible resources until they become available.
TERM LIFE INSURANCE - Term life insurance is not countable since it has no
cash
value.
WHOLE LIFE INSURANCE WITH A MAXIMUM FACE VALUE
OF $1,500 IS EXEMPT.
Compliments of
Law Offices of Joseph M. Hoffmann
Attorney
at Law
21 Main Street
Newton, New Jersey 07860
973-383-7415
© 2012 Joseph M. Hoffmann, Esq. All Rights Reserved
Joseph M. Hoffmann, Esq. is a Lawyer who represents clients in New Jersey and serves:
All of Northern NJ including: Sussex County | Warren County | Morris County | Passaic County | Somerset County | Union County | Newton | Andover | Sparta | Branchville
Morristown | Vernon | Sussex | West Milford | Hopatcong | Rockaway | Dover | Mt. Olive | Hackettstown | Randolph |
