A Word about the PAS (Part 2)
Last week I wrote about the medical part of Medicaid eligibility.  The preadmission screening (PAS) process requires the state to  certify that the applicant needs nursing home level care.  Nursing home level care means needing assistance with at least 3 of the activities of daily living.  Those activities are transferring (eg. in and out
A Word about the PAS
When talking to clients about achieving Medicaid eligibility, we spend most of our time focused on the financial requirements.  That includes an asset test and an income test and transfers that are potentially subject to a Medicaid penalty.  However, I always tell families that we can’t forget about the medical test. If we
Withdrawing IRA Funds Before Year End – Part 2
This year has been unlike any other. The pandemic has resulted in hundreds of thousands of deaths and many Americans continue to face economic hardships caused by the government imposed shutdowns and restrictions. At the same time Congress did pass a relief package back in March called the CARES Act. As I said
Withdrawing IRA Funds Before Year End – Part 1
As we get to the close of the year, many seniors if they haven’t done so already must withdraw enough from their retirement accounts to meet required minimum distribution requirements. The tax deferred status of these accounts can increase their value substantially, however, eventually the government wants its share in taxes. The