Beneficiary

As a result of less employer-sponsored pension plans and the desire of Congress to encourage savings for retirement, it is anticipated that Congress will pass the Setting Every Community Up for Retirement Enhancement (SECURE) Act later this year as it has bipartisan support. It will...

The federal law called the Achieving a Better Life Experience (ABLE) Act gives some people with disabilities or their families to establish a tax-free savings account that will not count as a resource for Medicaid eligibility (which is “means-tested”). For an adult disabled person who...

Although there are numerous ways to avoid a successful claim for estate recovery by the state government for Medicaid benefits (such as long-term care in a nursing home, assisted living facility or care at home, in addition to drugs) as set forth in a prior...

This is a case where a client took advantage of one of the exceptions to the long-term Medicaid transfer penalty rules to shift the burden of the cost of care to Medicaid while helping fund her grandchild’s college education. Elderly single client (who has limited resources)...

Although most parents do not want to disinherit a child, sometimes they become estranged for reasons ranging from disrespect by the child to the child doing some sort of criminal act. As a result, sometimes disinheritance becomes logical and needed. The following are a few ways...

Trusts are often a good tool to achieve one’s estate planning. Although this list is not exhaustive, the following are common things to consider: Protect beneficiaries from lawsuits. If properly drafted, a trust created in your Last Will and Testament or in your own revocable or...

Although certain assets such as a home, car, mineral rights (subject to limitations) and businesses essential for self-support are “non-countable” when applying for long-term care Medicaid, there are numerous exceptions to avoid a successful claim by the State to be paid back for benefits (such...

When it comes to estate planning, most immediately think about planning for their death first. However, approximately 30% of Americans will become disabled or incompetent at some time during their lifetime. A Will only becomes effective at your death – not if you are disabled....

Often clients are surprised to learn that their “irrevocable” trust can be changed. There are several ways to make changes to an irrevocable trust including by court order, agreement of all interested parties, decanting (pouring into another trust), or by simply exercising a “power of...

An elderly client, whose husband lives in a skilled nursing home due to his lack of mental capacity, retains us to apply for long-term Medicaid for her husband so that the government will help pay for his cost of care. However, to be eligible for...

Skip to content