March 11, 2014 |
‘Gifting’ May Be Penalized By Medicaid
While people can “gift” up to $14,000 each to anyone they want to each year without tax penalty, that tactic is not going to fly ...
Learn More‘Gifting’ May Be Penalized By Medicaid
While people can “gift” up to $14,000 each to anyone they want to each year without tax penalty, that tactic is not going to fly if it is being done to “spend down” in order to get Medicaid to pay for nursing home care.
If a person is “gifting” money to family or friends in order to spend down to reach the resource limit for Medicaid nursing home coverage, it better be done five years ahead of time, according to an article in the New York Daily News.
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Blog
March 6, 2014 |
Florida Court Ruling Provides Guidance For Those Using Trust For Asset Protection
A recent appellate court ruling in Florida gives former spouses the legal grounds to take funds from a type of trust that was thought to ...
Learn MoreMarch 5, 2014 |
Hoffman’s Will Raises Legal Issues
Actor Phillip Seymour Hoffman, who died of a drug overdose in February, had not updated his will in years. The mistake could prove troublesome for ...
Learn MoreMarch 4, 2014 |
What To Do When Your Elderly Parents Move In With You
More and more, elderly parents are moving in with their grown children. With the increasing costs of nursing homes, this makes financial sense for many ...
Learn MoreFebruary 27, 2014 |
The Right Way to Plan for Your Special Needs Child
Parents of special needs children have unique needs when it comes to estate planning. As a recent article explains, parents of special needs children who ...
Learn MoreFebruary 26, 2014 |
The Fifteen Best Countries for Overseas Retirement in 2014
It is not uncommon for Americans to spend significant time away from their home state in order to take advantage of more favorable living conditions. ...
Learn MoreFebruary 25, 2014 |
Are You a Sitting Duck? Four Asset Protection Strategies to Consider
Many investors are so focused on their return on investment that they fail to consider or implement asset protection strategies. As a recent article explains, ...
Learn MoreFebruary 20, 2014 |
About an Angel: Estate Planning Lessons from Farrah Fawcett
Recently, a number of legal battles have stemmed from Farrah Fawcett’s death. Perhaps most notably, the University of Texas sued Fawcett’s partner Ryan O’Neal for ...
Learn MoreFebruary 19, 2014 |
Four Actions to Take Before Your Death
The end of a person’s life can be a difficult and confusing time. However, it doesn’t have to be. A recent article discusses four actions ...
Learn MoreFebruary 18, 2014 |
Tax Avoidance Scheme for Wealthy: Move Assets Across State Borders
Not all states are created equal when it comes to income taxes. As part of their estate planning and asset protection schemes, wealthy Americans are ...
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