A Wisconsin appeals court rules that a Medicaid applicant who transferred funds to her children, who then put them in an irrevocable trust for her benefit, is ineligible for Medicaid because the trust is an available asset under state law, even though the transfer occurred 17 years before she applied for Medicaid. Oftentimes, Medicaid and Medicare can be entirely necessary programs. They also can be pretty tricky to navigate, especially if you, or a loved one, fall just above the income limits. That said, Medicare and Medicaid don’t like it when they feel you are “gaming” the system. Elder Law…
Unfortunately, caregivers are financially burdened by their caregiving duties. While caregiving creates a financial burden, caregiving has a big impact on work and life. Most caregivers are working, either full or part-time, or have worked at some point while caregiving. It is estimated that more than 60 percent of working caregivers have made adjustments to their work schedule, such as leaving early, arriving late, or taking time off. With the current financial situation, can you afford to loose your job because you are worried about your loved one? Caregivers also report they have less time for family or friends, have…
A caregiver cotract is angreement between an aging parent and child, a relative or anyone else that sets forth the length of time and rate of pay for caregiving services, and the tasks to be performed. However, most children don’t want to be paid for services provided to their parents. But, the children are providing a valuable service, and may be suffering a financial loss by taking time away from a job to do so, or other activities. Also, by spending down assets to pay for caregiving, aging parents can utilize this asset protection tool to qualify for Medicaid if…
Baby boomers are seeking out communities with culture, activities and events and turning to college towns, urban environments and smaller towns with vibrant downtowns in lieu of continuing care retirement communities (“CCRC”) The research to date indicates that boomers desire to stay involved and participate in life during their retirement years. Consequently, CCRC’s should change their approach and what programs they offer to Boomers rather than the Depression Era and the GI generation. The boomer generation wants to live among other generations they don't necessarily want to be segregated. However, this country is not prepared to manage the existing generation…
Your aging parents live in a different city or state, who will be your eyes and ears? Who will educate you and them about the elder care maze of Medicaid, Medicare, Long Term Care Insurance, Home Care v. Assisted Living v. Nursing Home, etc? You may talk to health care professionals, doctors, social workers, and friends. However, everyone seems to have a differing view about what is best for your aging parents; maybe these opinions conflict or have a different agenda. The physician desires to see your parents at home. Consequently, he does not lose a patient and revenue. An…
Estate planning is never easy, if only because it means thinking about protecting your loved ones when you’re no longer around. It’s bad enough making plans to protect self-sufficient heirs who take care of themselves and an inheritance. However, it can be a real challenge when planning for heirs with special needs for a variety of personal and legal reasons. Unfortunately, as The Wall Street Journal Online recently pointed out, with the economy and politics as they are, there are new concerns to bear in mind as you plan. Both the State and federal budgets are strapped for cash and…
Are you or an elderly loved one receiving benefits from Medicare or Medicaid? If yes, then likely you already appreciate the funding problems facing Congress and its appointed “super committee” regarding the future of these programs. However, for many of today’s elderly, certain changes to these programs may be real and immediate. As a result, careful attention to the associated political developments is important. One area of specific focus is “dual-eligibles.” Seniors receiving aid from both Medicare and Medicaid are so-called “dual-eligibles” and, as such, their benefits are under scrutiny from the super committee. In fact, changes may be in…
As some of you may know, the guidelines surrounding eligibility for Medicare or Medicaid can be fairly rigid. They exist to ensure people aren’t gaming the program, but sometimes even who aren’t gaming the program (and have legitimate need) can unintentionally run afoul of the rules. For another example of what not to do, the case of Jackson v. Director of Office of Medicaid (Mass. App. Ct., No. 10P706, July 19, 2011). When Raymond Duclos was entering a nursing home, his wife was making transfers to their children: $176,000 to their daughter, Susan; $11,787.83 to their son, Raymond, Jr.; and…
A diagnosis of Alzheimer’s disease can be devastating for everyone involved, including the patient and all of their family members. Should you be facing this diagnosis, there are probably a million thoughts racing through your mind, from keeping your loved one safe to caring for them as the disease progresses. One thing you might not think about is the need for estate planning. As a recent article by Reuter’s explains, if you or someone you love has a family history of dementia, is showing symptoms of Alzheimer’s or is concerned about later-life planning, it’s time to get to work. You’ll…
A California appeals court holds that a woman who purchased an endowment life insurance contract that repaid her premium and dividends during her lifetime and did not pay a death benefit is not entitled to Medicaid because the contract is not a life insurance policy. Lind v. Maxwell-Jolly (Cal. Ct. App., No. C061912, July 28, 2012) (unpublished). Not all life insurance is the same, and that’s not just an old sales trick to up-sell a client. In the eyes of Medicare and Medicaid, not all life insurance actually is “life insurance” – and that can be a reason to deny…
Frederick, MD 
301-663-9230
