When I meet clients and gather all the information regarding their health, assets, income, and family dynamics; one question I always ask is about the current and anticipated health of their future heirs of their estate. My role is to gather and determine what is the best plan for them. Many times, clients have young children that need a trust because of the ages. Others want a trust to control distribution to a financially irresponsible
Generally, Medicaid recipients who receive at-home, assisted living, or nursing home coverage have income limits, asset limits, and are restricted on the amount they can gift and transfer. Benefits and coverage can be lost, delayed, or discontinued, under some circumstances. There are exceptions such as allowable transfers and gifts between spouses, or to their disabled child. Most Americans, including those on Medicaid for at-home services, nursing homes, or assisted living have received several rounds of stimulus
Surviving spouses (and their families) routinely come to me after their spouse has passed away. Most times they have been receiving phone calls or written demands to pay by credit card companies. The surviving spouses many times pay before they consult with me. If they have not, I guide them through the credit card companies’ rights to pursue against a surviving spouse. It is important to know if the deceased was the primary and sole
I have written several articles and blogs on this Statewide program. Since many people want their loved ones at home versus at an institution during the pandemic, these programs have grown popular. Since I have written the last time on this program, it has been expanded to allow a healthy spouse to care and get compensated tax-free for approved care for another including their spouse. It can be a relative but also can be someone
When you, or a loved one is diagnosed with dementia, including Alzheimer’s Disease, a tide of emotions will hit you. Alzheimer’s is a brain disease which causes a decline in memory, thinking, and reasoning. Everyday tasks such as handling your finances, taxes, bills, cooking, and driving can be severely impacted. Commonly, you will see confusion in time and place; difficulty in following a conversation; misplacing things; and overall poor judgment and grooming, sometimes with a