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MEDICAID SPECIAL
ALERT
By
Thomas D. Begley Jr. Esquire - 12/20/2005
At 6:15
this morning the House of Representatives passed S.1932, The Deficit
Reduction Act of 2005. This bill extended the “Lookback” for
Medicaid transfers to 60 months and, in effect, prohibits any
transfers of assets for a period of 5 years before a person requires
long-term care financed by Medicaid.
The bill
now goes to the United States Senate, where it is expected that the
Senate will vote on this measure on Tuesday. It then goes to the
President for signature.
Transfers
made prior to the date the President signs the bill will be
grand-fathered. Any client of the firm who has not yet completed
their transfers is urged to do so Monday, if possible, Tuesday at
the latest.
If you have
any questions, please do not hesitate to contact this office
IMMEDIATELY.
Begley
& Bookbinder, P.C. is a law firm that specializes in Elder &
Disabilities Law.
We are based in Moorestown, NJ, with offices in Stone Harbor &
Lawrenceville.
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