Medicare Now Covers Outpatient Treatment for Opioid Addiction
Recognizing the huge problems caused by opioid addiction in the United States, Medicare is adding a new outpatient opioid treatment benefit, paying for methadone and related treatment in certain facilities. Under a new rule taking effect in January 2020, Medicare will...
Crowdfunding for Special Needs Individuals: Good, Bad, or “It’s Complicated”?
Having enough financial resources to support someone with special needs is an ongoing worry for many families. If resources are short, one increasingly popular option is to set up a crowdfunding campaign through such outlets as GoFundMe or Kickstarter. While this can...
Caregivers Are Getting Younger, Making Planning for Long-Term Care Even More Importan
As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain. The term “sandwich...
Key Elder Law Numbers for 2020: Our Annual Roundup
Below are figures for 2020 that are frequently used in the elder law practice or are of interest to clients. Medicaid Spousal Impoverishment Figures for 2020 The new minimum community spouse resource allowance (CSRA) is $25,728 and the maximum CSRA is $128,640. The...
Preparing For Aging
Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents and grandparents. And with longer life come difficulties – and sometimes financial predators. Our vulnerability to predators is made worse by another problem:...
Estate Planning Question: What Happens When a House That Is Split Three Ways Is Rented, Sold, or Passed at Death?
If the house is sold, the proceeds should be divided three ways with your mother receiving a third. This is also true of any rental income. A key issue after your mother’s death is whether she, your sister, and your brother-in-law own the property as joint tenants or...
Do Surviving Spouses Have a Right to a 401(k) or an IRA?
When choosing a beneficiary for a retirement plan, it is important to understand how your spouse will be treated under the plan. Surviving spouses are treated differently under 401(k)s and individual retirement accounts (IRAs). While a 401(k) provides protections for...
Feds Release 2020 Guidelines Used to Protect the Spouses of Medicaid Applicants
The Centers for Medicare & Medicaid Services (CMS) has released the 2020 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. In 2020, the spouse of a Medicaid recipient living in...
SSA Issues Controversial Proposal That Could Cut Hundreds of Thousands From Disability Rolls
Advocates are warning that a little-noticed proposed rule change could result in hundreds of thousands of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) recipients, many of them children, losing benefits. The change would subject...
2020 Spousal Impoverishment and Home Equity Figures Released
The Centers for Medicare and Medicaid Services (CMS) has released its Spousal Impoverishment Standards for 2020. As we earlier reported, due to CMS's apparent departure from past rounding practices the 2020 numbers differ somewhat from the earlier and usually quite...
New Law Makes Big Changes to Retirement Plans
President Trump has signed a spending bill that makes major changes to retirement plans. The new law is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their planning. The Setting Every Community Up for...
When Inheriting Real Estate Property, Consider Your Options
Inheriting real estate property from your parents is either a blessing or a burden -- or a little bit of both. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices. There are three main options...
What Happens to an ABLE Account If the Beneficiary Is No Longer Disabled?
Written By: Lelia Wardwell Mander It is possible that an individual, once diagnosed as a person with special needs, some time in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved through...
Accounting for Gifts and Loans to Children in Your Estate Plan
No parents want their children to fight among themselves after they are gone. Sadly, conflicts often arise, especially when a parent has gifted or loaned money to one child and not others. However, a few key words in your estate plan can minimize the potential for...
Special Ownership for Married Couples: Tenancy by the Entirety
Married couples have a special way to jointly own property in some states that has advantages over regular joint ownership. If you are married and own property jointly, you should make sure you have the right form of ownership. Joint tenants must have equal ownership...