Can I Give Gifts This Holiday Season (Part 1)?
As the holiday season is upon us again, so is the season of gift giving, whether it be Christmas, Hanukah, Kwanzaa or any other life event, for that matter, that we typically associate with gift giving. Many of our elderly clients ask us the following common question, “Can I make
Mary and Bob – Almost Divorce and Then Tragedy Strikes (Part 2)
Last week we were discussing Mary and Bob, in the process of getting divorced and then Bob was seriously injured in a car accident. He survived but now faces a long recovery road ahead, one which will result in his need for long term care. Mary, since she is still
Mary and Bob – Almost Divorced But Then Tragedy Strikes
Mary and Bob were married 40 years and raised a son together. Over the years, however, they grew apart and when their son entered the military and his career took him overseas they realized that there was no reason for them to stay together. They agreed that a divorce and
But Mom Wanted Me to Have the Money
In the last few years readers of my blog know that many of my posts are real stories that highlight the pitfalls and dangers of not putting together a plan for long term care until you are on the doorstep of the nursing home. Here’s another one, with names changed
The Money Wasn’t a Gift – It Was a Transfer to a Caregiver (Part 2)
We were discussing Jim’s dilemma with Medicaid last week. The State discovered additional assets that his grandmother owned, which were not disclosed by Jim’s dad when he filed the Medicaid application a year ago. They are now seeking $50,000 back. Jim believes the money was legitimately Dad’s but he probably
The Money Wasn’t a Gift – It Was a Transfer to a Caregiver (Part 1)
I received a call last week from Jim. His tale was a variation on the same theme you have heard me reiterate for the last few years if you have been reading my blog – how the Medicaid rules are a trap for the unwary. Jim’s dad had cared for
The Problem of the Unmarried Siblings (Part 1)
Denise called me regarding her family. Her mom was one of 10 children. 3 of the siblings had never married but lived together for many years in a home they owned together. As they reached their 80’s the siblings’ health began to decline and Denise, as the closest family member,
New Regulations For Special Needs Trusts
I have written about special needs trusts in past posts on this blog. SNTs are a safe harbor for the assets of disabled individuals that allows them to receive government benefits and be able to use the trust assets to supplement those benefits, because we quickly find that what the
Mary’s Dilemma – Don’t Let it Be Yours
Mary called me in desperation. Her husband Bob had recently been hospitalized with heart problems. He is also struggling with the onset of Alzheimer’s Disease. Mary has been able to administer care to this point but it has taken its toll on her physically and mentally and her children are
The Second Marriage Long Term Care Problem Revisited
Last year I wrote about the impact long term care has on a second marriage (see blog post 1/5/09). In the 19 months since then, I have seen an increasing number of second marriage “horror stories”. A call we received last week, again highlights the danger. Joe, a 70 year