Category archives: Asset Preservation
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2 years ago
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A new year brings with it the promise of new opportunities. There's something wonderful about the start of a new calendar year and the hope for the happy times it can offer us and our families and loved ones.New opportunities, resolutions, and personal goals are on the forefront of our minds as we s... [read more]
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3 years ago
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Did you know you could be responsible for your parents' unpaid bills? More than half of all states currently have laws making adult children financially responsible for their parents, including their long-term care costs. However, these laws are rarely enforced.
Filial responsibility laws obligat... [read more]
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4 years ago
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For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets. If you do not plan properly, IRAs can count as an available asset and affect Medicaid eligibility.
Medicaid applicants can have only a small amount of assets in order to be eligible to receive... [read more]
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4 years ago
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We are living in a time of change and ongoing uncertainty. During the last month we experienced a change in U.S. government leadership from the Trump to the Biden Administration, and with this change comes the potential for new policies that may potentially affect many aspects of our lives, includin... [read more]
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5 years ago
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The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home. The deductions include a $60-a-month personal needs allowance (this amount may be somewhat higher or lower in your state), a deduction for any uncovered medica... [read more]
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6 years ago
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One question we're often asked by clients is how they can include Estate Planning for their business, as they also address their personal Estate Plans. Our answer is that many of our clients are business owners, and our holistic Elder Law services include understanding, and attending to, plans for t... [read more]
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6 years ago
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Associate Attorney, Zach Altenbach spoke to the Silver Sneakers group at the Riverside Winston Family YMCA in Jacksonville this week.
Zach's presentation focused on Estate Planning and Asset Protection.
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6 years ago
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While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so you may want to take steps to protect your house.
If you get help from Medicaid to pay for the nursi... [read more]
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7 years ago
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One question our clients frequently ask us is if giving gifts to their family members can affect them adversely if they need to apply for Medicaid to cover the cost of nursing home care. Our response is that while current federal law permits gifts up to $15,000 annually, per individual, without the ... [read more]
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7 years ago
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Although a nursing home cannot require a child to be personally liable for their parent's nursing home bill, there are circumstances in which children can end up having to pay. This is a major reason why it is important to read any admission agreements carefully before signing.
Federal regula... [read more]
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7 years ago
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May is National Elder Law Month, as designated by the National Academy of Elder Law Attorneys. It is a way to acknowledge the profession that supports seniors and their families with all of their planning needs.
Elder law attorneys help seniors and their loved one’s plan for the possibility of n... [read more]
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7 years ago
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We are often asked by clients how complicated it is to administer a trust. Our answer is that administering a trust is a formal, fiduciary process that can be a difficult task for a Trustee, the person who manages the administration.
Numerous detailed and precise steps are legally required by Flo... [read more]
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