Elder Law
What Changes To Medicare Laws Are Expected In The Future? As seniors continue the post-retirement financial planning process, the annual Medicare Trustees Report released at the end of July purports to show a dramatic increase in Medicare Part B premium costs – up to 52 percent in some instances. Moreover, the Trustees Report shows that Medicare Part B deductibles are…Read More
Healthcare directives can be vitally important, as recent cases, like that of Terry Schiavo, clearly brought to light. These important documents can mean the difference between your health care wishes being carried out or family members fighting over whether a loved one should be placed in a nursing home or removed from life support. Healthcare directives usually include both a…Read More
Will Medicare Cover The Costs Of A Nursing Home Stay? The government-run health insurance program known as Medicare is accessible by millions of Americans upon reaching age 65 – covering a wide range of services from general wellness visits to invasive surgery. However, one glaring issue with Medicare coverage is its virtual ignorance of long-term care needs for seniors who…Read More
There are many factors to consider when deciding whether or not to implement Medicaid planning. If you’re in good health, now would be the prime time to do this planning. The main reason is that any Medicaid planning may entail using an irrevocable trust, or perhaps gifts to your children, which would incur a five-year look back for Medicaid qualification…Read More
What Should I Do If I Suspect My Elderly Relative Is Being Abused? Until recently, elder abuse was something people didn’t really talk about. But over the past few years, Indiana has gotten serious about tackling this issue. In fact, Indiana is the only state that has tied its Adult Protective Services (APS) Program directly to its criminal justice system,…Read More
It’s called your “golden years” but for many seniors and baby boomers, there is no gold and retirement savings are too often insufficient to maintain even basic living standards of retirees. In fact, a recent study by the University of Michigan found that baby boomers are the fastest growing age group filing for bankruptcy. And even for those who have…Read More
The irrevocable Medicaid Asset Protection Trust has proven to be a highly effective estate planning tool for many older Americans. There are many factors to consider when deciding whether a Medicaid Asset Protection Trust is right for you and your family. This brief overview is designed to give you a starting point for discussions with your loved ones and legal…Read More
Like most governmental benefit programs, there are many myths surrounding Medicaid and eligibility for benefits. One of the most common myths is the belief that only 50% of the funds in a jointly-owned bank account will be considered an asset for the purposes of calculating Medicaid eligibility. Medicaid is a needs-based program that is administered by the state. Therefore, many…Read More
Establishing a Life Estate is a relatively simple process in which you transfer your property to your children, while retaining your right to use and live in the property. Life Estates are used to avoid probate, maximize tax benefits and protect the real property from potential long-term care expenses you may incur in your later years. Transferring property into a…Read More