Once again the holiday season is upon us, a time of joy but also stress. We often visit family members we haven’t seen in some time and that’s when changes in older loved ones become more noticeable. Some of the changes that may indicate your

A Pension Crisis Brewing?

Nov 23rd, 2009

Much has been written in recent years about the health of Social Security. As the population ages two things are happening. Fewer people are paying into the system, while at the same time more people are receiving benefits, raising concern t

Another VA Benefit You Never Heard Of

Nov 16th, 2009

Understanding the maze of laws and benefits that form our long term care system is a full time job. That’s why I devoted my practice exclusively to elder and disability planning. A few weeks ago I was reminded of that fact when I was asked wh

How Do You Know if You are Getting Accurate Medicaid Information?

Nov 9th, 2009

How many times have you contacted a government office to inquire about some benefit or program and told you are not eligible? Have you then left the office or hung up the phone accepting that what you have been told is true? What if that is j

Mary's Worst Home Care Nightmare

Nov 2nd, 2009

For many families, keeping their elderly loved one at home will require in home assistance. There are many quality home health care companies in the area so finding one isn’t a problem. But I find so often that clients don’t go through a lice

How Can the Government Tell Me I Can’t Help My Family? (Part 2)

Oct 26th, 2009

Let’s pick up where we left off with Mary. Her son, Jim is unemployed and Mary has been giving him funds totaling $50,000 over the last 6 months to help him pay his bills. And she intends to continue doing so until he finds a job. While Mary

How Can the Government Tell Me I Can't Help My Family?

Oct 19th, 2009

Mary had been reading my blog posts for some time now about the need to plan ahead for long term care. Something struck a chord with her and she called. She has a home and about $200,000 in investments. While still healthy, she is 70 and thin

I Don't Have an Estate Tax Problem --- Do I?

Oct 12th, 2009

A few months back I wrote about how estates up to $3,500,000 are not subject to federal estate tax and that the tax will be eliminated in 2010. For this reason, when people call our office to discuss estate planning they will often begin by sa

New York's New Power of Attorney - What Does it Mean for You?

Oct 5th, 2009

On September 1, 2009 New York’s new power of attorney law became effective. There has been much written about it. The intent of lawmakers was to correct the financial abuses that seem to increase in frequency, probably due to the aging of our

Should I Take Social Security Early or Not?

Sep 28th, 2009

One of the more common questions asked of me is “should I take Social Security early?”. The questioner is referring to the ability to take Social Security as early as age 62, rather than waiting till the full time retirement age of 65. (By the

NFL Seat Licenses and Medicaid -- Huh?

Sep 21st, 2009

I met with a family with the following scenario. Dad needed nursing home care and the family had done no long term planning. We talked about how under Medicaid rules the couple’s assets would be counted, divided in half and that Mom would be

Mom Needs Help But a Guardianship Won't Work - What Now?

Sep 14th, 2009

I discussed in last week’s post how a guardianship may not be possible where Mom needs help but is not necessarily incompetent. So, what other options are there? Mom’s health has been in gradual decline. The family sees it. Sometimes they a

Mom Needs Help But Won't Accept It - Can We Apply for Guardianship?

Sep 7th, 2009

The caller gives me the following fact pattern or some variation. Mom’s health is deteriorating. Her behavior is becoming extremely erratic, in some cases violent or abusive. In some cases it’s dementia. In others it’s alcohol or the side e

Respite Care - Taking Care of the Caregiver

Aug 31st, 2009

Long term care for people suffering from Alzheimer’s Disease and other progressive, degenerative neurological diseases comes in many forms. In past posts I have discussed nursing homes, assisted living facilities, adult day care and home care

My Disabled Son is Going to Receive an Inheritance and Lose His Government Benefits – What Can We Do?

Aug 24th, 2009

Mary calls with the following problem. Her father recently passed away and left a sum of money to each of his grandchildren, including Mary’s son, John. “So, what’s the problem”, you ask. John is 25 and mentally challenged. He is disabled,

What Michael Jackson and Yung-Ching Wang can Teach All of Us

Aug 17th, 2009

The recent deaths of two wealthy men, one very well known, the other not, illustrates yet again the complications and costs of not preparing an estate plan. The media has focused in the last few months on the story about Michael Jackson’s deat

Is It Effective Medicaid Planning to Add Someone's Name to Your Bank Account

Aug 10th, 2009

Mrs. Jones came in to see me. Her husband was diagnosed with Alzheimer’s three years ago and the disease has progressed to the point where he needs long term nursing home care. At the time of the diagnosis she talked to some family friends and

To Gift or Not to Gift

Aug 3rd, 2009

Joe calls me because he wants to understand how Medicaid works. I start to explain how you have to spend down your assets before you can qualify for benefits. That the spend down has to be for value, meaning that you are spending your money a

I Have a Living Trust So I'm Covered - Right?

Jul 27th, 2009

In discussing long term care planning with new clients, very often they will tell me that they have everything covered because years earlier they set up a living trust. Living trusts are estate planning devices designed to eliminate the need t

The Right Way -- And The Wrong Way -- To Hire a Home Aide

Jul 20th, 2009

As long term care needs increase and families want to keep their loved ones at home, hiring home health aides often becomes necessary. Paying an aide, however, if not done correctly, can cause Medicaid ineligibility years later, after funds ru

The Bank Won't Honor my Power of Attorney

Jul 13th, 2009

As I often tell clients, one of the most important documents that everyone should have is a power of attorney. A power of attorney allows you to designate someone to conduct financial and other transactions on your behalf. The ease with which

Dad Owns a Home and Needs Nursing Home Care - What do I do?

Jul 6th, 2009

A common scenario that I am seeing with increasing frequency is the following fact pattern. Dad owns a home but not much else. He needs nursing home care but can’t get a mortgage to tap into the equity to pay for the care. The home is listed

Assisted Living Medicaid - Another Example of the Risks of Going it Alone

Jun 29th, 2009

A few months ago I wrote about the difficulties qualifying for assisted living Medicaid. (See 3/23/09 blog post). Last year I wrote about the risks of trying to handle a Medicaid application yourself. (See 10/5/09 blog post). A recent case

Is Remaining at Home Always the Best Option? Maybe Not

Jun 22nd, 2009

As I have written previously, in speaking with families, overwhelmingly the desire is for elderly family members to remain in their own home as they age and face declining physical and mental health. But, is that always the best thing? Perha

Spent Down? Not So Fast

Jun 15th, 2009

Some months ago I wrote about the couple who, not understanding the peculiarities of the Medicaid rules, did not spend down in a timely manner and, as a result, lost six months of Medicaid eligibility. Even though the money was eventually spen