There are two main parts to Medicare, each with its own eligibility requirements. Medicare Part A which offers hospital and other institutional coverage, is available for anyone who is over age 65 or who is permanently disabled and who is eligible for Social Security...
Medicare prescription drug (Part D) plans can have a coverage gap—called the “donut hole”–which limits how much Medicare will pay for your drugs until you pay a certain amount out of pocket. Although the gap has gotten much smaller since Medicare...
When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited? Resolving a conflict between lower courts, the U.S. Supreme Court in 2014...
For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets. If you do not plan properly, IRAs can count as an available asset and affect Medicaid eligibility. Medicaid applicants can have only a small amount of assets in order...
If you are worried that disappointed heirs could contest your will or trust after you die, one option is to include a “no-contest clause” in your estate planning documents. A no-contest clause provides that if an heir challenges the will or trust and...
Inheriting a vacation home with your siblings can be a great thing or it can cause huge problems within the family. Planning ahead can help prevent sibling disagreements. When siblings co-own property and one sibling wants to sell, that sibling can demand to be bought...
Vermont senator Bernie Sanders (D) has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy. Taken together,...
Answer: It is not appropriate for the guardian to do this, but it is probably not illegal. The guardian must oversee your mother’s care and act in her best interest. The guardian is probably also required to file reports with the local probate court, but the specifics...
Five elder advocacy groups are calling on Congress to eliminate Medicaid estate recovery after a congressional advisory commission recently concluded that estate recovery recoups a tiny percentage of spending while contributing to generational poverty and wealth...
A Pennsylvania appeals court rules that an agent may act on behalf of a principal under a springing power of attorney, even if the principal has not been declared incompetent if the parties intended to enter into a general power of attorney as supported by the...
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