Posts Tagged ‘Medicaid’
The ABLE Act: Tax-Free Savings for People with Disabilities
Recently passed by Congress and signed into law by President Obama, the Achieving a Better Life Experience (ABLE) Act provides the opportunity for those who became disabled before the age of 26 to set up tax-free savings accounts where they will be able to save $14,000 a year without affecting their eligibility for government benefits.…
Read MorePlanning Ahead for the Medicaid Look Back Period
It is always a good idea to start thinking about long-term planning early so that you are financially prepared for the future and your mind can be at ease if future hardship should occur. While estate planning is one endeavor that is best tackled early, long-term health care is another important issue and one that…
Read More5 Estate Planning Nightmares from Around the Country
With the proper estate planning, the following situations could have been avoided. The truth is, many fail to adequately plan their estate, which can potentially lead to outcomes such as these worst-case scenarios. 1. Mom had been in the nursing home on private pay for over 7 years. After paying over $700,000 to the nursing…
Read MoreShould my elderly parent, in a nursing home, sell her house?
One of the most common questions surrounding estate planning for the elderly is what to do with their home and other assets after one or both have entered a nursing home. The children of elderly parents are constantly asking estate planning attorneys in Massachusetts if their parent’s home and assets are protected when the parent…
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