2025 VA Aid and Attendance Numbers
In this week’s post I will review the updated numbers for 2025 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
2025 Medicaid Numbers
In a blog post in October, I updated you on some of the new Social Security and Medicare numbers for 2025.  The recently announced cost of living adjustment (COLA) of 2.5% follows a 2024 increase of 3.2%. Many other federal programs are tied to the Social Security COLA. These include Medicaid and the
Real Estate and Medicaid (Part 3)
In this third post of three, I discuss the impediment to qualifying for Medicaid when an applicant owns two homes.  To review, only the primary residence is an exempt asset as long as the applicant or spouse is living in it.  The second home is countable towards Medicaid’s asset limit.  Selling the home
Real Estate and Medicaid (Part 2)
In my blog post last week, I addressed a common question about Medicaid when someone owns two homes.  “Knowing that there is an asset limit in order to qualify for Medicaid but there are also certain exempt assets, can I exempt both homes and still qualify for benefits?”  The answer is no,
Real Estate and Medicaid – Part 1
As I have written about many times on this blog, Medicaid is a needs based benefit.  Assets must be spent down below $2000.  Not every asset, however, is countable.  There are exempt or non countable assets.  These are assets that do not count against the $2000 limit.  Additionally, in the case of married couple the
What is the Meaning of Per Stirpes? Part 2
In last week’s blog post, I explained the term “per stirpes”, which is typically found in a last will and testament.  It is meant to cover the possibility that the person who I name in my will to receive a bequest has died before me.  As I explained last week, the term
What is the Meaning of Per Stirpes? Part 1
Whenever I review drafts of a will we have prepared for a client there are certain terms and clauses that I can almost always guarantee will trigger questions.  One of those is the term “per stirpes”. Per stirpes is actually a Latin term meaning “by branch”. It is used to describe how assets
In Terrorem Clauses – Enforceable or Not? Part 2
In my post last week, I explained the concept of an in terrorem clause.  These clauses are designed to discourage will challenges, however they do have limitations.  They work by providing that if someone challenges the will they would receive nothing.  This acts as a disincentive to challenging the will if the person
In Terrorem Clauses – Enforceable or Not? (Part 1)
In this week’s post I discuss in terrorem clauses, more commonly known as no contest clauses which can be found in a last will and testament.  In terrorem is a Latin term meaning “in fear”. The purpose of such a clause is to discourage will challenges. The clause states that if an heir
2025 Social Security Cost of Living Adjustment
When we get to the end of the year, it’s time to look ahead to what numbers may change in 2025 for the government programs from which our clients receive benefits.  It starts with the Social Security Administration, which announces its cost of living adjustment (COLA).  Other government programs then adjust their