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...

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...

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...

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...

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...

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...

Your mother should apply a few months before she will run out of funds. In calculating when that will be, include in the cost of prepaying her funeral if that has not been done yet. In some states, she can also set aside funds for future needs in a (d)(4)( C) or...

With the aging population becoming increasingly tech savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help. To access most of the online...

All Long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were due in part to increased costs brought on by the coronavirus pandemic. In...

The federal government's plan to send $200 drug-discount cards to Medicare beneficiaries has cleared one hurdle, but it isn’t certain that the administration will have enough time to actually get the cards in the mail. When the current administration announced in...

Your will is a legally-binding statement directing who will receive your property at your death. It also appoints a legal representative to carry out your wishes. However, the will covers only probate property. (Probate is the court process by which a deceased...

Credit shelter trusts are a way to take full advantage of state and federal estate tax exemptions. Although such trusts may appear needless unless you are a multi-millionaire, there are still reasons for those of more modest means to do this kind of planning, and one...

Life insurance can play a few key roles in an estate plan, depending on your age and situation in life. There are two main types of life insurance: term and permanent. Term life insurance is the simplest: You buy a policy for a set number of years and you have...

COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary. The federal...

Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home -- may be paid for in four main...