Do You Have a Natural Support System?
It’s a growing epidemic, the number of aging Americans who have no one who would naturally be their support system as their health declines and they need assistance. A New York Times article the other day, titled “The Childless Plan for Their Fading Days”, highlights this problem and what some
Marriage and Medicaid (Part 2)
Last week we were discussing George’s dad and step-mother. Dad married Rita 5 years ago and now she needs nursing home care. Are Dad’s assets protected or must he spend them down towards Rita’s care? Even though Rita came to the marriage with few assets and they’ve been together only a
Marriage and Medicaid
George called me concerning his step-mom, Rita. Rita is in the hospital but about to be transferred to a nursing facility where she will remain on a long term basis once Medicare coverage stops. The conversation quickly turned to Medicaid. George explained that Dad and Rita have been married 5 years.
Tax Fraud or Medicaid Penalty? Part 2
Last week we were discussing Joe’s problem. His brother Jim had been using Dad’s account to buy and sell Jim’s investments, presumably because having Dad pay the tax instead of Jim was more beneficial. However, what happens when Dad applies for Medicaid? Medicaid will definitely question the $500,000 in assets transferred
Tax Fraud or Medicaid Penalty?
Joe called me because he had just taken over Dad’s finances and the management of care from his brother, Jim. That’s when he made a discovery that troubled him and caused him to reach out to us. Dad was still living at home alone but his health was declining. Joe began
NY Times Article on VA Aid and Attendance – Just a Little Misleading (Part 2)
Last week I was discussing the recent New York Times article, which profiled a World War II veteran, Henry Schaffer. Mr. Schaffer, according to the journalist, paid a VA accredited attorney to get him VA benefits, only to find out that he doesn’t qualify because his income is too high.
NY Times Article on VA Aid and Attendance – Just a Little Misleading
Two weeks ago there was a front page New York Times article titled, “Winning Veterans’ Trust and Profiting From It”. The article profiled a World War II veteran, Henry Schaffer, who was told by a VA accredited attorney that he could qualify for a VA pension that would help him
Long Term Care Insurance Partnership Program – Frequently Asked Questions
Last week we were discussing the long term care partnership program which was reinstated as part of the last round of changes to the Medicaid laws in 2006. Now let’s answer some frequently asked questions. Purchasing a “partnership policy” allows you to protect an additional dollar amount in assets above the
What is the Long Term Care Insurance Partnership Program?
Is it possible to purchase long term care insurance and be able to protect more than the minimum number of assets that Medicaid allows to qualify for benefits? The question is a reference to something called the Long Term Care Partnership program. The partnership program is designed to encourage people to
New Medicaid and VA Figures for 2014
Many of the programs that, as elder law attorneys, we deal with daily, such as VA Aid and Attendance and Medicaid, are adjusted annually to account for changes in the cost of living ie. inflation. The Social Security Administration announced that Social Security recipients will receive a 1.5% in benefits starting