When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home. Whether you are applying for nursing home coverage or through a Medicaid waiver program for coverage at home, you must meet the level-of-care requirement […]
read moreThe year was 1983: The U.S. invaded Granada. A gallon of gas cost 96 cents. Michael Jackson’s ‘Thriller’ video premiered. That year was also the last time that Social Security recipients saw a cost-of-living increase steeper than the one just announced for 2022. This year, Social Security benefits will rise 5.9 percent, the sharpest upsurge […]
read moreWhile it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets. So-called “half a loaf” approaches (we often call them “half and half” approaches) allow a Medicaid applicant to give away some assets while still […]
read moreDo I need more than a will? Many people believe that if they have a will, their estate planning is complete, but there is much more to a solid estate plan. A will typically does not cover all authority and instruction that is needed at your death. In addition, the will gives no authority to […]
read moreEvery year Medicare gives beneficiaries a window of opportunity to shop around and determine if their current Medicare plan is still the best one for them. During Medicare’s Open Enrollment Period, which runs from October 15 to December 7, beneficiaries can freely enroll in or switch plans. During this period you may enroll in a […]
read moreThe use of 529 plans, named for Section 529 of the Internal Revenue Code, have been a popular way to reduce an individual’s taxable estate; save for a child, grandchild, or other family member’s education; and receive tax-free growth of educational savings for several years. The account funds are usually invested in mutual funds, and […]
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