Insights from the 2019 Tax Season

As many of my readers know, I am a tax accountant as well as an elder law and estate planning attorney. In fact, many of my legal clients become tax clients to maintain a well-balanced relationship throughout the years. The concept is that by using me to prepare your tax returns, you have access to…

living will vs. healthcare proxy

Co-Authored by Joanna C. Feldman, Esq. Long-term care insurance can be a great arrow in one’s quiver of tools when planning for the future.  But long-term care insurance premiums can be expensive, or, possibly more importantly, the coverage can be capped in a variety of ways. Many long-term care insurance (“LTCI”) policies have a maximum…

Estate-planning-assets-for-children

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.

How long does a Medicaid home care application take? What is the process?

by Salvatore M. Di Costanzo, Esq., and Joanna C. Feldman, Esq. An application for Medicaid benefits to cover home care services is less complicated than an application for coverage for nursing home care, which requires submission of a full financial history for the previous five years. A Medicaid home care application requires submission of a…

Powerless Power of Attorney

by Salvatore M. Di Costanzo, Esq., and Joanna C. Feldman, Esq. Regardless of whether your estate plan is basic or complex, it is important to review the plan every few years for reasons that include life events and changes in laws and/or regulations. Life Events Estate plans can change drastically upon the occurrence of certain…

Elder Law Answers - Do I need a Last Will and Testament if I designate Beneficiaries for all of my Assets?

Co-Authored by Joanna C. Feldman Many people ask whether – or even why – they need a Last Will and Testament (“Will”) if they designate beneficiaries to inherit their assets upon their death. In some cases, designating beneficiaries on all assets may be appropriate. In other cases, however, unintended complications can arise. In all cases,…

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.

Powerless Power of Attorney

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…

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