LexisNexis® Legal Newsroom
Insolvent Estates - Who Gets Paid What When an Estate's Debts Are More Than Its Assets?

A decedent doesn't always leave assets to his or her heirs - instead there may only be a pile of debt. An estate is known as an "Insolvent Estate" when its liabilities exceed its assets. What to do in that situation? When determining if there are any assets that will pass to heirs, it...

Long Term Care Insurance May Become a Thing of the Past

It seems that the insurance companies really boggled it when it came to pricing out long term care insurance policies. Long term care policies have been hit by a triple whammy - historically low interest rates, policy holders living longer, and policy holders not dropping coverage at the rates the insurance...

What does it mean to be "family" with 21st century science?

In law school we learned about the "fertile octogenarian" - a theoretical construct about what would happen to a property distribution scheme in an estate plan if you had some wacky birth order situation (ie: my great-uncle is 60 years younger than me). Back in 1995, this was largely theoretical...

NJ Increases Medicaid Penalty Divisor Rate

While the increase of the Medicaid penalty divisor rate is a good thing, the divisor rate is supposed to mimic what a family privately pays for a semi-private room in New Jersey. Now, things might be different in other places, but our clients would find a nursing home with a monthly rate equal to the...

Deirdre Wheatley-Liss: 4 Good (?) Reasons to Contest a Will

Maybe it's the season, but I have gotten a lot of calls recently about will contests. A will contest usually happens when your heirs are surprised by what your will says, or by what you have left when you go to the great beyond. I have represented both heirs and estates, and in all cases there are...

Deirdre Wheatley-Liss: Love is Lost - And So is Your Inheritance - Divorce Really Ends Things

A common plan among our married clients is to leave their property to their spouse, either outright or in trust - oft-referred to as the "I Love You" Will. Sometimes, love is lost and the couple divorces. We recommend our clients update their Wills after any life-changing event, including...

Deirdre Wheatley-Liss: Personal Injury Damages and Medicaid Liens - SCOTUS Decides

You have a horrific accident and are looking at a life of extreme medical care. The accident was caused by another person (drunk truck driver). You get a multi-million dollar award. Does the state that you live in get a share? First, personal injury awards are generally free from income tax. Section...