How Does an ABLE Account Work for a Special Needs Child?
If you have a child or grandchild with disabilities, one of your biggest worries is what will happen when you are no longer around to provide aid.
Can Long-Term Care Insurance Premiums Be Deducted from Taxes?
Long-term care insurance can be an important part of planning for the twilight of your life.
Do I Have to “Spend Down” Everything to Qualify for Medicaid?
My spouse is going to have to move to a nursing home. When spending down assets for the sick spouse to qualify for Medicaid, does it have to be done before sick spouse is sent to a nursing home or can it be done even after the sick spouse is admitted to a nursing home?
Does a Supplemental Needs Trust Impact Government Benefits?
For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
Special Needs Planning
Estate planning should always be customized to each individual creating a plan. This is particularly important when planning for beneficiaries with disabilities.
Can I Restructure Assets to Qualify for Medicaid?
Several types of special income trusts and other strategies can be helpful, when trying to protect your family’s assets from the devastating costs of long-term care.
How to Protect Assets from Medicaid Spend Down?
Several types of special income trusts and other strategies can be helpful when trying to protect your family’s assets from the devastating costs of long-term care.
What Should I Know Before Starting Social Security?
Since you began working, Social Security has recorded your reported earnings under your name and Social Security number. Social Security updates your record each time your employer (or you, if you’re self-employed) report your earnings. Your earnings determine your benefit amount.
How Does Medicaid Count Assets?
Although the Medicaid system may be a generally recognized public benefit, the intricacies of the program usually do not become relevant to individuals, until they face the need to use it.
Gift-Tax Exemptions are Treated Differently by IRS and Medicaid
Most people have heard that each individual is allowed to gift $15,000 per year to another person without paying a gift tax. However, exactly what the gift tax is, and the consequences of going beyond $15,000, are less clear.