Co-Authored by Joanna C. Feldman, Esq. Do you understand who will inherit your Estate if you die without a Will? We recently read an article about a multi-millionaire who died without having executed a Last Will and Testament (“Will”). Certain members of his extended family, with whom he likely had little to no relationship, inherited…
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…
A new report that combines nursing home quality data with a survey of family members ranks the best and worst states for care and paints a picture of how Americans view nursing homes.
Traditionally, Medicaid has paid for long-term care in a nursing home, but because most individuals would rather be cared for at home and home care is cheaper, all 50 states now have Medicaid programs that offer at least some home care.
Change is inevitable, and it comes in many shapes and sizes. Death, disability, and divorce are three of the most common changes in life that can wreak havoc on an estate plan. If your estate plan is not flexible, there could be unintended consequences. With the increasing popularity of revocable trusts, whether drafted by attorneys…
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,…
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.
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.
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.
The choice of beneficiary for IRA, SEP, 401(k) or other retirement plans can have significant tax implications. Here are some of the rules and concerns when designating beneficiaries.
Medicaid law imposes a penalty period if you transferred assets within five years of applying, but what if the transfers had nothing to do with Medicaid? How do you prove you made the transfers for a purpose other than to qualify for Medicaid?
A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse.
While most of the new tax law has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers, including changes to the estate tax and 529 accounts.