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Rodney L. Klafehn's Answers

Rodney L. Klafehn
Laurens Estate Planning Attorney.
Contributor Level 3

4

Attorney answers:

  1. Inna Fershteyn
  2. Joseph Allen Bollhofer
  3. Rodney L. Klafehn
  4. Gary S. Sinclair

Will i be penalized if i spend an inheritence to keep medicaid?

Asked by a user in Smithtown, NY - 3 months ago.

The receipt of your inheritance must be reported, and will raise a "red flag" at your local Medicaid Office. Certain expenses are considered exempt and will not affect your eligibility for Medicaid assistance. Others, however, may affect your eligibility. Before you do nayhting, you need to consult with an attorney in your community to discuss your recent receipt of your inheritance and determine for just what purposes you may - or may not - spend it on, and the affect of any such expenditures...

2

Attorney answers:

  1. Rodney L. Klafehn
  2. Shawn B Alexander

What action can I take to collect on a 24 thousand dollar private loan that is two years in arrears?

Asked by a user in Oneonta, NY - over 2 years ago.

1. In NY, the statute of limitations for bringing an action on a contract is 6 years, so it is possible to bring an action against the borrowers on a loan agreement that is 2 years in default. 2. Both parties are liable on the agreement. As to the man, it is a personal obligation only, and, if listed on his bankruptcy petition, is potentially dischargeable in bankruptcy - you may end up being able to collect, at most, a percentage of the total amount owed to you. As to the woman, it is...