Spend-down. Look-back. Penalty Period. Uncompensated Transfer. These are just some of the terms Medicaid uses to determine eligibility for long-term care coverage. Medicaid is a combined federal and state program that pays for long-term care at home (community Medicaid) or in a nursing facility (institutional Medicaid). Asset, income and gift…
Estate planning is not written in stone. Instead, estate plans should be revised and reconsidered when various major life events occur. Marriage may or may not involve a prenuptial agreement. Regardless, it may call for adding your new spouse’s name as beneficiary on insurance policies, on a will or trust,…
Elder law estate planning provides for (1) your care in the event you become disabled as you age, and who will be in charge of that care, and (2) the passing of your assets on death to whom you want, when you want, the way you want, with the least…
Ask most people if they’ve done their estate planning and a common answer is, “Yes, I have a will.” However, estate planning is not just a plan for death. It’s a plan for life that addresses what happens if you become disabled. About half of us will eventually becoming disabled.…
Happy New Year to all! There have been significant changes in the law in a number of areas as of January 1, 2023. The gift tax exclusion, which many people still think is $15,000, is now $17,000, up from $16,000 in 2022. Each person may give up to $17,000 to…
Makes sure your estate goes to whom you want, when you want, the way you want. Most estate plans leave the assets to the next generation outright (i.e., in their hands) in equal shares. However, with a little bit of thought on your part, and some guidance from an…
Choosing to retain the services of an experienced elder law attorney is not a light decision, but instead is often the result of great consideration. Unfortunately, deciding whether or not to retain an elder lawyer can result in a great amount of uncertainty as well as anxiety for the elderly…
Health documents used in an estate planning context are some of the most valuable documents that a person can have. These documents, however, often invite uncertainty because the documents are referred to by various names and one document can be confused for another. When it comes to the subject of…
In some situations, courts throughout the country are able to stop other individuals from altering an elderly individual’s estate plan. In one recent case, White v. Wear, the appellate court considered the creation of a restraining order blocking the respondent from performing any alternatives to estate plans. The order might…
Frustration is growing for medical professionals including those who work at hospices as they wait for President Biden to reveal details about how federal regulations for COVID-19 will be enforced. This frustration is in part driven by uncertainty about aspects like permissible exemptions, testing costs, and the number of…