Co-authored by Joanna C. Feldman Generally speaking, Medicaid rules require most of one’s monthly income be contributed toward the cost of one’s care in a nursing home. When the spouse of the Medicaid recipient remains at home, however, the impact of losing the other spouse’s additional income can be detrimental. The spouse at home (known…

In many cases, a divorce is a traumatic experience for both parties. Usually, neither party has given any thought to the unintended consequences of death or disability during divorce. Until there is a final decree or judgment of separation or divorce, each party remains the spouse of the other. Upon the death of one party,…

Co-authored by Joanna C. Feldman This is a question we’re continually asked, so we’re glad we have another opportunity to clear things up. The main thing to remember is this: IRS rules are different from Medicaid rules. Under current IRS rules, you may gift up to $15,000.00 to as many people as you’d like in…

While an annuity might serve you well from a financial planning perspective, financial planners and clients must be aware of the treatment of annuities for Medicaid purposes. For Medicaid eligibility purposes, the cash value of an annuity is considered an available resource. This means that an annuity is treated like cash and if you need…

Figuring out how much to save for retirement and when you can safely stop working can be difficult. A growing number of online retirement calculators, many of them free, are available to help.

Co-authored by Joanna C. Feldman A Medicaid Trust is often used when planning for the future and contemplating the fact that one might eventually need nursing home care.  The average monthly cost of a nursing home in our area exceeds $12,000.00, and there are only four ways to pay for such care: privately (which can be…

Co-authored by Joanna C. Feldman As Monday, April 16, 2018, was Health Care Decision Day, your question is timely.  In New York, a Health Care Proxy allows you to appoint someone to make health care decisions for you should you become mentally incapacitated.  You can even appoint a successor should the primary person be unable…

A new study has found that people enrolled in a Medicare Advantage plan were more likely to enter a lower-quality nursing home than were people in traditional Medicare.

When I meet with people for the first time who are interested in estate planning, their focus is usually on after-death planning.  Whether their concern is minimizing estate taxes, planning for minor or spendthrift children, or simply passing assets to the next generation as quickly and efficiently as possible, nearly every meeting begins with a…

If your Medicare drug plan denies coverage for a drug you need, you don't have to simply accept it. There are several steps you can take to fight the decision.

A long-term care policyholder has successfully sued her insurance company for breach of contract after the company raised her premiums.

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