Beware of Greeks Bearing Gifts
Perhaps it’s a phrase you’ve heard before but aren’t aware of the history behind it. (More on that in a minute.) A recent New Jersey court case brought the statement to mind and left me shaking my head because it just reinforces why clients so need my services. Allow me
Are You Making Gifts You Aren’t Even Aware of? (Part 2)
We were discussing Eddie’s problem last week. His Dad needs nursing home care and, at a cost of $11,000 per month, Eddie was concerned that there would not be anything left for Mom if he didn’t look to qualify for Medicaid quickly. However, the family was totally in the dark
Are You Making Gifts You aren’t Even Aware of? (Part 1)
So often, when I explain to someone how the Medicaid lookback and transfer penalty work, the response I get back is, “Don’t worry. My parents haven’t made any gifts. We don’t have anything to worry about.” But, the term “gift” is such a subjective one. It can mean different things
The Single Most Dangerous Mistake When Applying for VA Benefits (Part 2)
Last week we were talking about Melissa’s call to our office. Her parents had been receiving VA benefits for 2 years while living in an assisted living facility and everything had been great. The reason she called us, however, is that Dad now needs nursing home care. Her parents have
The Single Most Dangerous Mistake When Applying for VA Benefits (Part 1)
Melissa called to explain her parents’ situation. Mom was 80 and Dad 85. For a number of years they had been receiving care at home from a home health aide. 2 years ago, Melissa attended a seminar offered by a financial advisor at a local assisted living facility about a
How We Pulled Charlie from a Black Hole of Long Term Care
A few months back I wrote about a situation that is not all that uncommon, a nursing home resident with long term care insurance benefits but no other assets. If the insurance payment goes directly to the resident it counts as income, resulting in too much income to qualify for
Don’t Put Long Term Care Planning on the Backburner
Laura called us in a panic because her husband, George, was in a nursing home, about to have his Medicare coverage terminated. George had no long term care insurance and Laura was totally unprepared for how Medicaid works and how much she would have to spend down. I explained that
“But the Lady Said Medicaid is Gonna Take My House!!”
It’s an issue we deal with often, especially in our married couple crisis planning cases.  We explain to clients how Medicaid works and engineer a plan to get the sick spouse Medicaid without putting the healthy spouse in the poor house. The healthy spouse will keep the home.  This is
Are There Really Any Easy Medicaid Applications?
    Ben calls us with some basic questions about his mom’s long term care needs as she is very close to needing nursing home care. The subject turns inevitably to Medicaid as I explain the complexities of the program and how people get tripped up by it with often disastrous
Is Your Long Term Care Plan Stuck in a Time Warp?
The amount of change in the last 15 years is incredible and the pace of change has quickened. Nothing stays the same forever, and forever is not as long as it used to be. We are starting to see this in the senior market, beginning with how the term “old”