A number of tax proposals being considered in Congress could significantly affect gifting and estate plans for those with larger estates -- over $3.5 million. If you're in that category, you might want to meet with your estate planner to take advantage of gifting...

When you need someone else to care for money or property on your behalf, that person (or organization) is called a fiduciary.  A fiduciary is a person or entity entrusted with the power to act for someone else, and this power comes with the legal obligation to act for...

Elder law and estate planning serve two different--but equally vital--functions. The main difference is that elder law is focused on preserving your assets during your lifetime, while estate planning concentrates on what happens to your assets after you die. Elder law...

Vaccines can become less effective over time. Even individuals fully vaccinated as children may need to update their immunizations. Medicare Parts B and D offer vaccination coverage. Medicare Part B covers shots for the flu, hepatitis B, pneumococcal (pneumonia), and...

Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned. In order to be eligible for Medicaid, you cannot have recently transferred assets....

The Centers for Medicare and Medicaid Services (CMS) has released its Spousal Impoverishment Standards for 2022.  The spousal impoverishment thresholds will increase 5.4 percent over 2021's figures. The official spousal impoverishment allowances for 2022 are as...

The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are almost the same as in 2021. Many types of medical expenses are deductible...

California is in the process of removing the asset test for all Medicaid (called Med-Cal) programs. The move will significantly help low-income seniors who need long-term care. Currently, individuals in California and all other states must spend down their assets to a...

Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month. The Centers for Medicare and Medicaid Services (CMS) announced...

Retirement plans often make up a significant portion of the assets of parents of children with special needs, or of individuals who have become disabled as adults.  In such cases, the question arises as to whether the retirement plan can be put into a special needs...

When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home. Whether you are applying for nursing home coverage or through a Medicaid...

Being able to make health care decisions for ourselves is so important to us, but what happens if you become incapacitated and are unable to voice your opinion?  If you don’t have a health care proxy or guardian in place, state law chooses who can make those...

Medicaid law provides special protections for the spouses of Medicaid applicants to make sure the spouses have the minimum support needed to continue to live in the community while their husband or wife is receiving long-term care benefits, usually in a nursing home....