An elder law attorney suggested the purchase of a vehicle as a way to protect some of my grandma’s assets. While this would be excluded during the Medicaid spend-down, what can we do to prevent the car from being taken by estate recovery after she passes? I was told to do a title transfer from her name to mine after she is qualified for Medicaid. Is it really that simple?
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity of giving a gift, it may be a better way to preserve assets for the future.
Why an Irrevocable Trust May Be Superior to Gifting Read More »
If you are caring for a loved one at home, you may need to rent a hospital bed. Here are the ins and outs of hospital bed rentals.
Finding the Right Hospital Bed Rental Read More »
By James S. Rizzo, Esq.* “The difference between death and taxes is death doesn’t get worseevery time Congress meets” – Will Rogers I frequently tell clients if they have to worry about the estate tax, it’s generally a “good problem to have”, as that means their asset level is quite high. That was not the
2021 Update: Should You Be Concerned about the Estate Tax? Read More »
President Biden has signed the latest COVID-19 relief bill, which in addition to authorizing stimulus checks, funding vaccine distribution, and extending unemployment benefits, also provides assistance to seniors in a number of ways.
How the $1.9 Trillion COVID-19 Relief Bill Aids Seniors Read More »
By James S. Rizzo, Esq.* “Out of intense complexities, intense simplicities emerge.” – Winston Churchill There is very little “basic” about Medicaid. When faced with a life altering long term nursing home stay, it is important to consult a professional to review your family’s assets and income and to determine the best option, if any,
2021 Update: “Basics” of Medicaid and Nursing Homes Read More »
Tucked into the federal spending bill that passed at the end of December 2020 are some changes aimed at simplifying Medicare enrollment and addressing coverage gaps. But Congress chose not to deal with the biggest problem.
Congress Fixes Some, But Not All, Medicare Enrollment Problems Read More »
Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.
Using Estate Planning to Prepare for Medicaid Read More »
As the second (and maybe third) round of stimulus checks go out, it is important to know that nursing home residents are not required to turn their checks over to their nursing home.
What to Do With Your Stimulus Check if You Are in a Nursing Home Read More »
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary. The federal government entered into a partnership with CVS and Walgreens
Can You Visit Nursing Home Residents After They are Vaccinated? Read More »
