Inheritance Tax Inheritance tax is exactly what it sounds like: tax paid on your inheritance. Depending on what your relationship is to the decedent, you could owe the State taxes. This is different from Estate Tax, which New Jersey recently did away with. You can read all about that here. We’ll talk a little more about …
Spending Down for Medicaid
What is “spend down”? Nursing homes and assisted living facilities are EXPENSIVE! And MediCARE will only cover up to 100 days in a rehab facility, which means that most people wind up paying out of pocket for these medical services. Eventually, you run out of money, and the government steps in to pick up the …
