Monthly Archives: August 2011
Why an irrevocable trust can be superior to gifting
Wise use of an irrevocable trust can be a powerful way to protect assets as one gets older. One use is to avoid the need to spend down assets in order to qualify for certain benefits, such as veterans benefits … Continue reading
What is an intestate estate?
If you die without a will, the state will say who gets your estate. In Pennsylvania, where I practice, the state has a set of rules for what’s called your “intestate estate.” (Our rules are similar to those in other states, … Continue reading
“20 Common Nursing Home Problems – and How to Resolve Them” – guide available
You can download free, or buy copies of, a useful guide to nursing home problems produced by the National Senior Citizens Law Center. Just click here. The guide covers problems in areas ranging from admissions and payment to care-related issues … Continue reading
Can you transfer auto title without a probate estate?
Whether or not there is a probate estate, title can be passed to others by submitting the right forms with the Pennsylvania Bureau of Motor Vehicles. (Procedure in other states may be different.) Form MV-39 contains detailed instructions on what … Continue reading
What is a Community Spouse Resource Allowance? 5 simple steps to estimate
A Medicaid applicant’s spouse shouldn’t become impoverished, according to federal law. One protection for the spouse is the community spouse resource allowance. (Another is the monthly maintenance needs allowance (or MMNA) which you can read about here.) The community spouse … Continue reading
Can you undo an irrevocable trust?
“Irrevocable.” That word concerns many people, despite the effectiveness of irrevocable trusts in protecting assets and avoiding probate. It’s true that, in general, an irrevocable trust cannot be entirely undone by the person who created it (called the “settlor”), acting … Continue reading
Payments to caregivers found deductible, Tax Court rules
A recent decision of the United States Tax Court reminds us that the some of the cost of caregiving for the chronically ill may be tax deductible, but that it is important to get the proper documentation. It may also … Continue reading
Recent Posts
- When NOT to file a Medicaid application
- How to calculate a Medicaid ineligibility period
- What is the Medicaid look-back period?
- Medicaid benefits increase January 1
- Are kids liable for Mom & Dad’s nursing home bill?
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