Our Centennial Estate Planning Attorney Answers Your Questions There are many different estate planning tools that can simplify matters for your beneficiaries after your death. One of those tools is a life estate. If you have a home that you want to pass to a beneficiary, such as a child or grandchild, then you should … Continue reading
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Special Needs Trust Planning Success Story
A person who was referred by their neighbor who is an individual with special needs recently called our office. The person’s son had special needs and the family was hoping to qualify him for public benefits (such as Medicaid and SSI), when they passed away. The family attended a special needs trust workshop that we … Continue reading
New Rule May Make It Harder for Medicare Beneficiaries to Receive Home Care
It may become harder for Medicare beneficiaries to find home health care due to a new rule from the Centers for Medicare and Medicaid Services (CMS). Although the rule changes the way home health care providers are reimbursed, it could affect patient care as well. Starting in January 2020, Medicare will reimburse home health agencies … Continue reading
Grandparents Raising Grandchildren May Qualify for the Earned Income Tax Credit
Raising a grandchild can be tough financially, but grandparents should be aware that there is a tax credit available that could help them. Working grandparents who are supporting their grandchildren may qualify for the earned income tax credit, which could reduce the amount they pay in taxes by thousands of dollars or allow them to … Continue reading
New Rule Once Again Allows Nursing Home Arbitration Agreements
The Trump administration is officially rolling back a ban on the use of arbitration agreements by nursing homes that was initiated under President Obama. The Centers for Medicare and Medicaid Services (CMS) issued a rule that once again allows nursing facilities to use arbitration to settle disputes with residents. Historically, nursing homes increasingly asked — … Continue reading
Reports Find Hospice Deficiencies Go Unaddressed
Hospice care is supposed to help terminally ill patients maintain their quality of life at the end of their life, but two new government reports find that serious problems in some hospices may be actually causing harm to hospice patients. The reports propose that additional safeguards are needed. Medicare provides a comprehensive hospice benefit that … Continue reading
Should You Sell Your Life Insurance Policy?
Older Americans with a life insurance policy that they no longer need have the option to sell the policy to investors. These transactions, called “life settlements,” can bring in needed cash, but are they a good idea? If your children are grown and your mortgage paid off, you may decide that there is no longer … Continue reading
Why an Attorney Can Help With Medicaid Applications
Medicaid is an essential state and federal program for individuals and families across the country. Without this program, people with limited funds and resources would be unable to afford their medical expenses. However, the process of signing up for Medicaid is extremely important. It is very easy to make mistakes that can cost you considerable … Continue reading
How to Plan Your Funeral
Thinking about your funeral may not be fun, but planning ahead can be exceedingly helpful for your family. It both lets them know your wishes and assists them during a stressful time. The following are steps you can take to plan ahead: Name who is in charge. The first step is to designate someone to make … Continue reading
A Final Retirement Account Distribution Must Still Be Made After Death
Federal law requires that beginning on April 1 of the year after you reach age 70 1/2, you must begin withdrawing a minimum amount from your non-Roth individual retirement account (IRA) or 401(k) accounts. These withdrawals are called required minimum distributions (RMDs). But what if you die after age 70 1/2 and before all the account funds … Continue reading