Long-Term Care Benefits for Veterans and Surviving Spouses
The cost of long-term care can add up quickly. But if you’re a veteran — or the surviving spouse of a veteran — who needs nursing care, help is available in the form of an underused pension benefit called Aid and Attendance. This program provides money to those who need help carrying out everyday tasks. It’s […]
IRS 2018 Estate Tax Announcement
The IRS recently announced that in 2018 the unified credit against the estate tax will be raised to $5,600,000 and the annual exclusion for gifts be raised to $15,000 per donee. For more information about estate taxes, please contact the attorneys at Gummer Elder Law.
Using a Prepaid Funeral Contract to Spend Down Assets for Medicaid
No one wants to think about his or her death, but a little preparation in the form of a prepaid funeral contract can be useful. In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in order to qualify for Medicaid. A prepaid […]
Hospitals Now Must Provide Notice About Observation Status
President Barack Obama signed a law in August 2015, that was intended to prevent surprises after a Medicare beneficiary is in the hospital under “observation” and is later admitted to a nursing home. This is important because Medicare covers nursing home stays entirely for the first 20 days, but only if the patient was first […]
Why You Should Use a Lawyer for Medicaid Planning
Many seniors and their families don’t use a lawyer to plan for long-term care or Medicaid, often because they’re afraid of the cost. But an attorney can help you save money in the long run as well as make sure you are getting the best care for your loved one. Instead of taking steps based […]
Short-Term Care Insurance: An Alternative to the Long-Term Care Variety
A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or less. As long-term care premiums rise, short-term care insurance is gaining in popularity. This type of insurance […]
Why You Need to Update Your Estate Planning Documents
Wills and trusts are binding legal documents, but that doesn’t mean they’re written in stone. They can be altered as the circumstances in your life change. In this blog post, we will review why you may need to update your will, living will or trust. 1. Marriage or divorce If you’ve just gotten married, you’ll […]
Take These Three Steps When Your Child Turns 18
If your child has reached the teenage years, you may already feel as though you are losing control of her life. This is legally true once your child reaches the age of 18 because then the state considers your child to be an adult with the legal right to govern his or her own life. Up […]
Four Legal Steps to Take After an Alzheimer’s Diagnosis
Having dementia does not mean that an individual is not mentally capable to make planning decisions. Simply having a form of mental illness or disease does not mean that you automatically lack the required mental capacity. As long as you have periods of lucidity, you may still be competent to sign planning documents. Here are […]
Costly Mistakes to Avoid When a Spouse Enters a Nursing Home
Moving your spouse into a nursing home can be a weighty decision, emotionally and financially. If you don’t take the right steps, there is a chance that transitioning to a nursing home will drain your spouse’s finances, and possibly even your own. In this blog post, we’ll look at some common mistakes to avoid before […]