Why and When a Surety Bond is Necessary – Part 1
In a number of estate administration and guardianship matters in our office the need for a bond becomes an issue. Clients often don’t understand the purpose of a bond and are upset that they need to go through the process of qualifying for one and that there is a cost, which
Medicaid Application Finish Line Shortened
In the past several years, especially since COVID, the Medicaid application process has become more lengthy and time consuming. More documents are now required in order to achieve Medicaid approval than ever before. The 16 page application is the easy part but I always tell people that you must have your ducks
Changing Distributions After Death – Part 2
In my post last week, I talked about a scenario where family members wish to change the distributions they are to receive after a loved one’s death. Because the death sets in place the wishes of the decedent (person who died) either by the will or the intestacy laws if there
The Importance of Updating Your Will – Part 2
In last week’s post, I talked about two recent estate administration cases in our office. In each instance the decedent left a will but no living executor was available to serve. In the first case, the two children who inherited the estate equally were not named because at the time the will
2022 VA Aid and Attendance Numbers
In this week’s post I will review the updated numbers for 2022 for the VA program that provides a benefit to wartime veterans and their spouses. Known as the VA Aid and Attendance program, this benefit provides a special pension to eligible applicants who need long term care. The maximum pension amount
Some Words About the Latest Stimulus Payment (Part 2)
In last week’s post I wrote about the latest stimulus payment. Eligibility is based on your income as reflected on your income tax return. What happens if you have not filed your 2020 income tax return? The IRS will use your 2019 income tax return in that case to
Divorce and Medicaid – Part 1
Divorce rates in America have steadily risen for years and much has been written about it. There are, however, many more couples in unhappy marriages who for varied reasons did not go the divorce route. For some, it may have been about being more comfortable with the life they know vs. the
2nd Stimulus Checks – Same as the 1st?
Last month Congress and President Trump finally agreed to additional stimulus checks to be sent to Americans in need during the current pandemic. This is the second such round of payments since the COVID crisis hit. There are some differences, however between this second payment and the first. The most important change is
More Numbers for 2021
Last week I talked about some of the important Medicaid and VA numbers that will increase in 2021. This week we’ll review some more adjustments for 2021 in some of the other government programs and taxes relevant to our clients. Medicare Part B premiums will increase slightly next year. Most people pay the standard
Funeral Expenses and Medicaid
Whenever I talk to a family whose loved one is close to spending down the required amount of assets to qualify for Medicaid, the topic of burial expenses comes up. Most people are aware that Medicaid permits setting aside funds to cover the burial but many are a bit fuzzy on