Family members or friends with someone who has special needs may feel a desire to provide them with financial assistance. However, if the person with special needs is on SSI, Medicaid, or other need-based government programs, that assistance, unless properly...
In case a spouse becomes incapacitated, the other spouse may need to conduct certain transactions on behalf of the incapacitated spouse to either obtain care or avoid financial penalties. However, status as a spouse does not automatically grant this ability. Even a...
When applying for Medicaid nursing home coverage, applicants must meet certain financial requirements. In order to prevent fraud, Medicaid not only looks at an applicant’s current financial situation, but they also look back at the applicant’s financial transactions...
Long term care insurance is an insurance policy that can cover the cost of a potential stay in a nursing home or other care alternatives. A nursing home stay can potentially drain the savings all but the wealthiest individuals. While long term care insurance policies...
Serving as a trustee is a significant responsibility that not everyone is equipped to handle on their own. A trustee has a duty to prudently manage the assets in the trust according to the terms in the trust for the beneficiaries of the trust. Generally speaking,...
The cost of nursing home care can wipe out the life savings of all but the wealthiest families. While Medicaid can cover the cost of nursing home care, eligibility for the Medicaid nursing home benefit is need-based. An individual must fall below very restrictive...
