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Retirement Accounts and Medicaid Planning
When applying for Medicaid nursing home coverage, different states have different rules for how retirement accounts, such as IRAs and 401(k) accounts, are treated. To qualify for Medicaid nursing home coverage, an applicant’s total assets must fit under a fairly...
Limits of the Medicaid Child Caregiver Exemption
When applying for Medicaid nursing home coverage, an individual’s total assets have to comply with a very restrictive asset cap before Medicaid pays for nursing home coverage. This asset cap even requires that any gifts or below market transfers made within the...
The Role of a Trust Protector
At a basic level, trusts have three roles. The settlor, or trust creator, dictates the terms of the trust and places assets in the trust. The beneficiaries are the people for whose benefit the trust was created. The trustee then manages the trust assets for the...
When To Enroll in Medicare
While Medicare eligibility begins at age 65, some people, under certain circumstances, may choose to delay enrollment in certain aspects of Medicare. Medicare Basics Individuals become eligible for Medicare at age 65. Medicare Part A covers inpatient hospital care,...
Palliative and Hospice Care
The recent death of former first lady Barbara Bush and the earlier disclosure that she had chosen to no longer seek medical treatment in favor of comfort care raised issues about medical decisions and end-of-life planning. Active medical treatment of chronic...
Springing Powers of Attorney
When creating a power of attorney for a potential incapacity, there are two general options regarding when the powers in the document will take effect. One option is to have the powers listed take effect as soon as the document is signed. This is typically referred to...
Medicare – Skilled Care and Custodial Care
When it comes to what Medicare does and doesn’t cover, the distinction between skilled care and custodial care is important. In short, Medicare covers skilled care, but not custodial care. Skilled care generally is provided by a licensed medical professional in a...
Powers of Attorney and Dementia
People who have full mental capacity can change their estate planning documents at any time by executing new documents. The reasons for creating new documents may range from new personal preferences to fixing technical problems. In time, however, an individual may...
Prenuptial Agreements and Second Marriages
Prenuptial agreements can be important planning tools for any couple planning to get married. However, for people who have children from previous relationships, a prenuptial agreement can help ensure that their childrens’ inheritance is protected. Without a prenuptial...
Choosing a Care Facility
When choosing a care facility for yourself or a loved one, there are a number of factors that should be considered. A proper level of professional care and appropriate expertise at caring for people with particular conditions are extremely important considerations,...
