Nov. 20, 2009 Rabbi David Aaron: How to make every second of your life come first Caroline B. Glick: Whither American Jewry Nov. 19, 2009 Binyamin L. Jolkovsky: Please Listen to this Godcast (5 minutes) Jonathan Tobin: ADL Crosses the Line with Report Bashing Obama Critics Nov. 18, 2009 Rabbi Yonason Goldson: What Judaism has to say about the secret of the Mona Lisa's smile JWisdom.com: The (Jewish) Dating Game with Rabbi Lawrence Hajioff (8 minutes) Nov. 17, 2009 Steven Emerson: How Does the 4th Amendment Impact Terror Finance Investigations? JWisdom.com: If Frank Sinatra married Edith Piaf with Rabbi Y.Y. Rubinstein (2 minutes) Life lessons from what would be regarded as the most inappropriate lyrics ever sung Nov. 16, 2009 The Jewish Ethicist by Rabbi Dr. Asher Meir : When borrowing is stealing JWisdom.com: Deconstructing faith with Rabbi Warren Goldstein (9 minutes) Nov. 13, 2009 JWisdom.com Sarah's subjective reality with Rabbi Sroy Levitansky ( 6 minutes) Caroline B. Glick: Obama's failure, Netanyahu's opportunity Nov. 12, 2009 The Kosher Gourmet By Marialisa Calta : A sweet sweet potato treat JWisdom.com Does God get tired? with Rabbi Harvey Belovski ( 5 minutes) Nov. 11, 2009 Rabbi Avi Shafran: Jews and money: When anti-Semitism isn't JWisdom.com Marriages are not made in Heaven with Rabbi Lawrence Hajioff (VERY fast 15 minutes) Nov. 10, 2009 Michael Doyle: Author of book exposing CAIR ordered to remove supporting documents from Web JWisdom.com If the creation so loudly shouts the existence of the Creator, why aren't more people believers? with Rabbi Naftali Brawer (9 minutes) Nov. 9, 2009 Mark Steyn: Shooter exposes hole in U.S. terror strategy JWisdom.com It's never too late to have a happy childhood with Sarah Chana Radcliffe (5 minutes) Nov. 6, 2009 Rabbi Berel Wein: Choosing to hear JWisdom.com Zero to 1/60th: How to Empower An Hour with Gavriel Aryeh Sande (7 minutes) Caroline B. Glick The mullahs' big week Suzanne Fields A Fallen Wall for Fallen Man Nov. 5, 2009 The Kosher Gourmet: Three scrumptious -- but simple -- butternut squash dishes JWisdom.com Hidden Hints: Unlocking Faith & Prayer with Rabbi Jay Yaacov Schwartz (10 minutes) Nov. 4, 2009 Tom Hamburger and Kim Geiger: Should prayers be covered? JWisdom.com When God played peacemaker With Rabbi Sroy Levitansky (5 minutes) Nov. 3, 2009 Martin Peretz: Beware, Barack. Beware, Rahm. Beware, Axelrod JWisdom.com Are you are closet idolater? With Sara Yoheved Rigler (10 minutes) Nov. 2, 2009 Paul Greenberg: The Holocaust is now on Facebook JWisdom.com Abraham's Strange Change With Rabbi Yitzchok Fingerer (5 minutes) Oct. 29, 2003 Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)

Jewish World Review April 22, 2008 / 16 Nissan 5768 ‘Gifting’ assets not a smart move By Jan L. Warner & Jan Collins http://www.JewishWorldReview.com | Q: After reading several magazine and newspaper articles, my wife and I, both in our mid-70s, are considering "selling" our home to our children for $5 so that, should either of us enter a nursing facility, the house would be saved. We would, of course, remain in the home and then "rent" it from our children. We purchased our home for $50,000 many years ago, and even in today's depressed real estate market, we know it's worth at least $250,000. Will this work? A: Before we answer your question, there are several caveats to which we believe everyone should adhere. First, it's not prudent to engage in any type of planning -- especially that which involves transfers and shifting of assets -- without receiving advice from a qualified attorney and, where taxes are concerned, a Certified Public Accountant or tax specialist. Second, it's not wise to engage in haphazard planning based on articles you may read or what you may hear on television or radio. If you are serious about making a plan that involves your hard-earned assets, you need to engage professionals who can explain the pros and cons of your actions and help you avoid the pitfalls. Third, since you placed quotation marks around the words "selling" and "rent," one can only assume that the transaction you describe would be a sham. And guess what? It wouldn't allow you to beat the system. If it were as easy as you seem to think, everyone would be doing it. Here, by "selling" a $250,000 home to your children for $5, you and your wife are, in effect, making a gift to your children of $249,995, which will require you and your wife to file a gift tax return by next April 15. While there may be no tax due, you have given your children the home at your cost basis of $50,000, meaning that when they sell it after both of you die -- or before, if you are unlucky -- they will pay capital gains taxes on the difference between the carryover basis of $50,000 and the sales price. In addition, if you carry out this "plan" and pay your children rent, the rent money will be income to your children, and the residence will be depreciated -- causing greater capital gains when sold. If either you or your wife enter a nursing facility within five years of the date of this gift and apply for Medicaid, the penalty that this significant gift will generate will begin to run on the date the resident would have otherwise qualified for Medicaid benefits -- if you hadn't given this gift. This means that, based on the average monthly nursing-home cost in your state, you will need enough cash to pay for your care for years until you receive Medicaid benefits. And, to add to your "thinking points," consider that by transferring your residence to your children, you will lose your homestead property-tax benefits, and should either of your children have debt problems or get sued, your house might become the source of repayment. If the latter occurs, you could find yourselves out in the street. Moreover, what if one of your children passes away before you and your wife do, and your least favorite son-in-law or daughter-in-law inherits your child's share and decides that the house must be sold? Taking the NextStep: Without a coordinated long-term-care plan, it is dangerous and foolish to give away assets. Seek out professional assistance before you do anything. Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. JAN L. WARNER received his A.B. and J.D. degrees from the University of South Carolina and earned a Master of Legal Letters (L.L.M.) in Taxation from the Emory University School of Law in Atlanta, Georgia. He is a frequent lecturer at legal education and public information programs throughout the United States. His articles have been published in national and state legal publications. Jan Collins began co-authoring Flying SoloŽ in 1989. She has more than 27 years of experience as a journalist, writer, and editor. To comment or ask a question, please click here. Archives © 2008, Jan Warner

Arnold Ahlert  Mitch Albom  Michael Barone   Dave Barry  Tony Blankley  Andy Borowitz  David Broder  Stratfor Briefing  Mona Charen  Linda Chavez  Ann Coulter  Greg Crosby  Larry Elder  Suzanne Fields  John Fund  Frank J. Gaffney  Lloyd Garver  Jonah Goldberg  Julia Gorin  Jonathan Gurwitz  Paul Greenberg  Lewis Grossberger  Victor Davis Hanson  Betsy Hart  Nat Hentoff  David Horowitz  Laura Ingraham  Cheri Jacobus Jeff Jacoby  Paul Johnson  Jack Kelly  Ed Koch  Ch. Krauthammer  Michael Ledeen  John Leo  David Limbaugh  Kathryn Lopez  Rich Lowry  Michelle Malkin  Jackie Mason  Dick Morris  Bill O'Reilly  Jim Mullen  Clarence Page  Kathleen Parker  Dennis Prager  Wesley Pruden  Tom Purcell  Jonathan Rauch  Celia Rivenbark  Robert Robb  Cokie & Steve Roberts  Pat Sajak  Debra J. Saunders  Culture Shlock  Roger Simon  Michael Smerconish  Thomas Sowell  Mark Steyn  John Stossel  Cal Thomas  Bob Tyrrell  Diana West  Dave Weinbaum  George Will  Walter Williams  Byron York  Mort Zuckerman  Robert Arial  Chuck Asay  Baloo  Chip Bok  Dry Bones   Lisa Benson  John Branch  Gary Brookins  John Cole  J. D. Crowe  John Deering  Brian Duffy  Everything's Relative  Mallard Fillmore  Jake Fuller  Bob Gorrel  Joe Heller  David Hitch  Jerry Holber  Steve Kelley  Jeff Koterba  Dick Locher  Chan Lowe  Ranan R. Lurie  Jimmy Margulies  Rick McKee  Michael Ramirez  Kevin Siers  Jeff Stahler  Ed Stein  Danna Summers  John Trever  Gary Varvel  Kirk Walters  How 2  Lori Borgman  The Savvy Consumer  Elder matters  Fixit  Dr. Peter Gott  GET A JOB! by Marty Nemko  Richard Lederer  Tech Maven  Every Monday Matters  Nutrition Myths  Bookmark These  Bruce Williams  How Stuff Works