October 24, 2013 |
What is an Irrevocable Funeral Trust?
One tool for those looking to spend down their assets in order to apply for Medicaid benefits is the Irrevocable Funeral Trust (“IFT”). Through an ...
Learn MoreWhat is an Irrevocable Funeral Trust?
One tool for those looking to spend down their assets in order to apply for Medicaid benefits is the Irrevocable Funeral Trust (“IFT”). Through an IFT, a person can set aside funds to pay for his or her funeral and burial expenses. Importantly, funds in an IFT are not considered to be part of a person’s estate for purposes of Medicaid qualification. A recent article discusses the basics of the IFT.
Importantly, an IFT should not be used by just anyone. High net-worth individuals who will not require Medicaid assistance, for example, would not use an IFT because they likely have sufficient funds or insurance policies that will cover medical expenses.
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Blogs for Elder Law
October 23, 2013 |
Dealing with Early-Stage Alzheimer’s
Currently, the sixth leading cause of death in the United States is Alzheimer’s disease. Between 2000 and 2010, the number of deaths caused by Alzheimer’s ...
Learn MoreOctober 16, 2013 |
‘Spending Down’ for Medicaid Coverage: A Cautionary Tale
Medicaid is a need-based public benefit program that assists citizens in paying for medical care. Therefore, a person can only receive benefits if he or ...
Learn MoreOctober 2, 2013 |
ALERT: New Rules for Reverse Mortgages
As the costs of long-term care continue to rise, more and more elderly Americans are turning to reverse mortgages in order to fund these costs. ...
Learn MoreAugust 14, 2013 |
Consider a Care Contract When Caring for Your Parents
Many adult children are living with and caring for their elderly parents. As a recent article explains, it would be beneficial for both parties to ...
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