If My Mother-in-Law Lives with Me, Does Medicaid Count My Income and Assets When Determining Her Eligibility?
Answer: In most states, your and your husband’s income and assets should not be included in your mother-in-law’s application for benefits. This is because the definition of “household” only includes a spouse and dependents. So you and your husband are not members of...
How Likely Are You to Need Long-Term Care?
Planning for retirement and deciding whether to buy long-term care insurance would be a lot easier if you knew your odds of needing long-term care, as well as at what age and for how long. Unfortunately, there's no definite answer. On the other hand, some statistics...
Program That Helps People with Disabilities Move Out of Institutions Temporarily Re-Authorized
Congress has temporarily extended the federal government’s largest grant program that helps states transfer people with disabilities from institutions into independent living arrangements. Tucked into a larger federal appropriations package and signed into law by...
Proposed Rule Could Make Proving Housing Discrimination Against Those with Disabilities Harder
Written By Andy Jones: It could soon be significantly harder for people with disabilities to pursue discrimination claims under the Fair Housing Act (FHA) if new regulations proposed by the Department of Housing Urban and Development (HUD) take effect. The proposed...
Free Tax Preparation Help Is Available to Most Seniors
Seniors and retirees should know that they may be able to use online tax preparation software free of charge. Most low- and middle-income Americans qualify for the free help, but do not take advantage of it. And all seniors are eligible for free counseling assistance...
Taking Money Out in Retirement
Many people are not prepared for the shift from employee to retiree. Uncle Sam has strict rules on when you can and, later, must begin withdrawing funds from tax-deffered retirement accounts like 401(k)s and IRAs. Here's a rundown of the basic rules, which changed...
New Retirement Law Changes Special Needs Planning
Just before the end of 2019, Congress passed and the President signed a spending bill that includes significant changes to retirement savings accounts. Known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, this legislation changes rules...
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...