Category: Gifting

The gift that keeps on giving: paying your grandchildren’s college tuition

March 6, 2014 Victor Medina Estate Planning, Gifting, Medicaid Planning, Taxes 0 Comments

Paying your grandchildren’s (or adult children’s) college tuition is one of the greatest gifts you can make. The education lasts a lifetime and opens a world of opportunity for your grandchildren. In a way, it is like giving a gift to your children as well, since it alleviates their concerns about paying for their children’s […]

Tips for Year-End Giving in 2013

November 14, 2013 Victor Medina Estate Planning, Gifting 0 Comments

Many elderly New Jersey residents are considering making financial gifts to family and friends at this time of year. If you are considering making such a gift, it is important to understand how the rules applicable to lifetime transfers will impact your gift, otherwise your gift may be subject to a gift tax liability of […]

Three Maneuvers to Help You Qualify for Medicaid

October 24, 2013 Victor Medina Elder Law, Gifting, Medicaid Planning, Trusts 0 Comments

Medicaid is a means-tested government benefit program. For those who qualify, Medicaid will provide payment for long-term care services. A recent article discusses three estate planning maneuvers that may assist a person in qualifying for Medicaid. Gifting Assets Although gifting assets is the most obvious way to reduce the value of a person’s estate, this […]

Giving to Your Grandkids Without Sacrificing Your Retirement

January 17, 2013 Victor Medina Asset Protection, Gifting, Retirement 0 Comments

Many grandparents desire to help their grandchildren financially, however the weak economy and job market has put many grandchildren in a situation where they need more than their grandparents can realistically give. According to a recent report in The Wall Street Journal, grandparents who are making financial gifts to grandchildren while living off their savings […]