Peter Caldwell Herbst Jr’s Answers

Peter Caldwell Herbst Jr

Braintree Estate Planning Attorney.

Contributor Level 2
  1. How much can an independent senior (84yrs old) gift money without getting penalized if admitted to a nursing home shortly after?

    Answered over 1 year ago.

    1. Denise Kent
    2. Denise Leydon Harvey
    3. Jennifer A Deland
    4. E. Alexandra Golden
    5. Peter Caldwell Herbst Jr
    6. ···
    8 lawyer answers

    How does the senior plan on paying for the nursing home care? If they are paying using a long term care insurance policy or through savings, the answer will be different than if they are utilizing Veteran’s benefits or seeking Medicaid (MassHealth in Mass) eligibility. Several people already mentioned that seeking the advice of an elder law attorney would be important and I wholeheartedly agree with that advice.

    5 lawyers agreed with this answer

  2. Tax on sell of a home

    Answered 3 months ago.

    1. Scott D Rosenberg
    2. Joshua N Robbins
    3. Peter Caldwell Herbst Jr
    4. Bruce Givner
    5. Dana Whitney Atchley
    5 lawyer answers

    Establishing your basis in the property for calculation of the gain from the sale will be important. Namely, whether or not the property received a stepped-up basis to fair market value on date of death will be critical. You mentioned that your mom lived in the property until she died. Did she reserve a life estate in the deed when she transferred the property to the four children? If not, did she continue to “possess and enjoy” the property after giving it to the children? If there is a...

    1 lawyer agreed with this answer