Similar to tax planning, where the client often wants to pay as little taxes as possible and plan accordingly, many want to preserve as many resources as possible while obtaining Medicaid assistance so that the government will help pay for the cost of care in...
Beneficiary designations (where you name one or more beneficiaries to receive assets of yours upon your death) are sometimes a great and simple tool in estate planning, but sometimes, they could lead to a disastrous result. Beneficiary designations supersede your will. Thus, there could be...
The cost of long-term care is great (the average is around $7,500/month in Texas). As a result, many apply for long-term care Medicaid for governmental assistance to help pay for the facility and drugs. It is not unusual for us to receive calls after either...
A common misconception is that there is one type of power that covers everything from financial to medical decisions. Even many who realize there should be different documents for medical and financial decisions, they are unaware of the variety of financial powers of attorney. The...
Famed actress, Shannen Doherty, most commonly known for her television roles in “Beverly Hills 90210” and “Charmed”, got divorced from her husband, successful photographer, Kurt Iswarienko (“Kurt”), hours before her death in California on July 13, 2024. In contrast, Aristotle Onassis planned on divorcing former first...
Billionaire media mogul, Rupert Murdoch, is in a family feud with 3 of his children over control (after his death) of his mega media business which includes Fox News, The Wall Street Journal, The New York Post and many other newspapers and television stations. Murdoch has...
Casey Kasem, known for radio’s “Top 40 Countdown”, died in 2014, but the war over where he should be buried between the children of his first marriage and his widow is ongoing. After years of legal battles over elder abuse, wrongful death, guardianship and end of...
Matthew Perry, well-known for his role as Chandler Bing in the popular television show “Friends”, preferred that he be remembered for helping others. Perry, who fought his addiction to alcohol and opioids for many years prior to his death last year at age 54, may have...
The IRS announced its final rule on when an inherited IRA must be distributed to a beneficiary. If the owner of an IRA (or other retirement account) has already reached the date (the Required Beginning Date) when he or she is required to make distributions (70...
Homestead Resource Exclusion Differences Between Medicaid and Veteran’s Benefits Public benefits (such as long-term care Medicaid and non-service-connected disability benefits for wartime veterans or his or her surviving spouse) are “means-tested”. In other words, the government looks at your resources when you apply to determine if you...
