Co-Authored by Joanna C. Feldman, Esq. The short answer is no, but let’s go further. Medicaid applications to cover expenses in a nursing home are subject to the five-year look back period. This means that any gifts, uncompensated transfers, or transfers for less than fair market value made by the applicant within the five years…
The number of older Americans with student loan debt – either theirs or someone else’s — is growing. Sadly, learning how to deal with this debt is now a fact of life for many seniors heading into retirement.
Donor-advised funds are a growing trend in giving that may get more popular due to the new tax law.
While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so you may want to take steps to protect your house.
Caring for an ailing family member is difficult work, but it doesn’t necessarily have to be unpaid work. There are programs available that allow Medicaid recipients to hire family members as caregivers.
Taking care of a parent can be a full-time job. Parents who want to compensate a child who takes on the burden of caregiving may do so in one of several ways.
The Power of Attorney (“POA”) and Statutory Gifts Rider (“SGR”) are two of the most important documents drafted by an elder law attorney. The absence of or deficiencies in these documents increases the likelihood of the need to commence a costly guardianship proceeding to be able to implement many common elder law planning techniques necessary…