Activities of Daily Living Measure the Need for Long-Term Care Assistance
Most long-term care involves assisting with basic personal needs rather than providing medical care. The long-term care community measures personal needs by looking at whether an individual requires help with six basic activities that most people do every day without...
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Medicaid Planning: Updated Spousal Impoverishment Amounts for Kansas & Missouri
Kansas Pdf SEL-Kansas-Desk-Reference-2021 Missouri Pdf SEL-Missouri-Desk-Reference-2021
Closing of Social Security Offices Has Triggered a Sharp Drop-Off in New SSI Recipients
At the start of the Covid-19 pandemic, the Social Security Administration (SSA) closed all 1,200 of its field offices to in-person appointments, as well as suspended numerous other services. One distressing result is that the number of new Supplemental Security...
Using Estate Planning to Prepare for Medicaid
Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations. Long-term care can be very expensive, especially...
What You Can’t Do With a Will
While a will is one of the most important estate planning documents you can have, there are things that it won’t cover. A will is just one part of a comprehensive estate plan. A will is a legally-binding statement directing who will receive your property at your...
Retaining Life Estate in House Placed in ‘Nominee Trust’ Does Not Make House Countable Asset
Massachusetts’ highest court holds that a Medicaid applicant retaining a life estate in a house placed in a “nominee trust” does not make the house a countable asset for Medicaid eligibility purposes. Guilfoil v. Secretary of the Executive Office of Health and Human...
Industry Group Reports 2021 Premiums for New Long-Term Care Insurance Policies
Prices of new long-term care insurance policies for 2021 have have been posted in the annual report from the American Association for Long-Term Care Insurance, an industry group. The price increases appy to new, not current policies. Comparing the 2021 prices with...
Estate Planning Question: As Their Agent Under a POA, Can I Continue My Parents’ Usual Gifting of Money to Family?
This is something of a gray area. Any gift is a transfer of assets that must be reported on an application for Medicaid benefits and can cause a period of ineligibility. If the gifts you’re describing are small, they would cause only a few weeks of ineligibility. This...
Is There a Way to Prevent Trust Income from Going to a Nursing Home?
Usually the purpose of an income-only trust in Medicaid planning is to protect the property in the trust either from having to be spent down to qualify for Medicaid in the first place or from the state’s estate recovery claim after the death of the Medicaid...
What To Do With Your Stimulus Check if You Are in a Nursing Home
As the second round of stimulus checks go out, it is important to know that nursing home residents are not required to turn their checks over to their nursing home. And Medicaid recipients need to spend the cash within a year if it puts them over Medicaid’s resource...
2021 May Spell Changes to Estate Tax and Stepped-Up Basis Rule
A new administration usually means that tax code changes are coming. While it remains unclear exactly what tax changes President Biden’s administration will usher in, two possibilities are that he will propose lowering the estate tax exemption and eliminating the...
Does the Agent Under a Medical POA Have the Right to Get Information from the Agent Under a Financial POA?
For the most part, the answer is "no." The agent under a financial durable power of attorney has no obligation to disclose financial matters to anyone other than the person for whom he is acting. But the fact that your brother may be refusing to pay for care that you...
What is Long-Term Care and Who Provides It?
Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are a number of different ways that long-term care can be provided. Most long-term care involves assisting with basic personal needs rather than...
Key Elder Law Numbers for 2021: Our Annual Roundup
Below are figures for 2021 that are frequently used in the elder law practice or are of interest to clients. Medicaid Spousal Impoverishment Figures for 2021 The new minimum community spouse resource allowance (CSRA) is $26,076 and the maximum CSRA is $130,380. The...