New Jersey Medicaid Penalty Divisor Increased For Gifts

In order for an applicant to eligible for long term care Medicaid in an assisted living facility or nursing home, there is a five-year look back period. This means that all financial records as well as any gifts made during the previous five years must be disclosed to Medicaid. In accordance with New Jersey law, […]

IRS Estate Tax Exclusion

For 2016, the IRS estate tax exclusions are as follows:

the estate tax exclusion amount for deaths in 2016 is $5.45 million the annual exclusion for gifts is $14,000 the applicable exclusion amount for lifetime gifts is $5.45 million […]

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