Continuing Care Retirement Community – Is It Right For Me?
Continuing Care Retirement Communities (CCRCs), are communities that provide a full continuum of care for their residents. They have flexible accommodations designed to meet their residentâs health and housing needs as those needs change over time, offering independent living, assisted living and nursing home care, usually all in one location.
LTACH – What is it and How Can it Benefit My Critically Ill or Catastrophically Injured Loved One?
Medical science has made great strides in the last 30 years. We are certainly living longer. Illnesses and injuries that in the past resulted in death, now do not. However, the recovery period can be a long one, especially for the elderly, whose recuperative abilities are not the same as
A Medicaid Story That Starts Out Bad But Turns Out Just Fine
Last week I wrote about Dad who gifted a large sum to his children and within 6 months needed long term care. Because the money had been spent and could not be returned I had to explain to the daughter that Dad would not be eligible for Medicaid for 4
It’s Dad’s Money. He Can Do What He Wants With It – Right?
In February, 2006 Congress passed some significant changes to the Medicaid laws that created some very dangerous traps for unprepared families needing long term care. At the time I wrote about a case in which Granddad gifted his money to Granddaughter who moved in to care for him. When she
Elder Law Podcast Show #17 Why Do I Need a Will
The law allows every person to distribute property according to their wishes by a written instrument known as a Last Will. However, many people never execute one and miss that opportunity, the consequences of which can be devastating to loved ones. In Show 17 of his monthly elder law podcast, Yale
When Can a Healthy Spouse Keep More Than Half the Assets Under Medicaid Rules
Janeâs husband, John, was recently hospitalized and nursing home care was looking more than likely. At that time, their assets totaled approximately $150,000 (not including their home and one car, both of which are âexemptâ for Medicaid purposes). Jane went to the Board of Social Services to see what benefits
My Spouse Needs Nursing Home Care – What are my Options?
Mary and Joe own their home and have $150,000 in savings. They have wills leaving everything to each other and then alternatively to their children, but they have done nothing to address their long term care needs. Joe is now about to enter a nursing home and Mary is faced
How Long Term Care Can Destroy an Estate Plan
Whenever we meet with new clients, especially married ones, I always want to review the estate planning documents that they currently have. Sometimes those documents are 10, 20 or 30 years old. Other times, the clients will say, âOh, we just had our wills updated in the last year so
Thinking About Transferring Your Home – Have You Considered the Tax Implications – Part 2
In my last post I explained how Momâs transferring her home to me during her lifetime will result in capital gains tax whereas passing the home to me after she dies can reduce or even eliminate the tax. However, Mom considered transferring the house because she wanted to protect it
Thinking About Transferring Your Home – Have You Considered the Tax Implications? – Part 1
"Mom wants to transfer her home to me. Do you think itâs a good idea?" A seemingly simple question and one that is probably one of the more common questions I am asked as an elder law attorney. But, not one that I can answer without knowing more. One size