Can I Make Gifts this Holiday Season? (Part 2)
Last week we were talking about gift giving. Most people assume an elderly family member can make gifts without any tax consequences as long as it doesn’t exceed $13,000 per person per year. That’s true. However, it may very well cause a problem if you run out of money and
Can I Give Gifts This Holiday Season (Part 1)?
As the holiday season is upon us again, so is the season of gift giving, whether it be Christmas, Hanukah, Kwanzaa or any other life event, for that matter, that we typically associate with gift giving. Many of our elderly clients ask us the following common question, “Can I make
One of the Clearest Warning Signs of Dementia
           More often than not, the first call we receive about a prospective client who is facing long term care concerns comes from a child or other family member, rather than the senior client. And so often the caller expresses surprise at recently discovering that Mom or Dad is slipping.Â
Mary and Bob – Almost Divorce and Then Tragedy Strikes (Part 2)
Last week we were discussing Mary and Bob, in the process of getting divorced and then Bob was seriously injured in a car accident. He survived but now faces a long recovery road ahead, one which will result in his need for long term care. Mary, since she is still
Mary and Bob – Almost Divorced But Then Tragedy Strikes
Mary and Bob were married 40 years and raised a son together. Over the years, however, they grew apart and when their son entered the military and his career took him overseas they realized that there was no reason for them to stay together. They agreed that a divorce and
Obamacare – What Seniors Need to Know (Part 2)
So, last week we were discussing the highlights of President Obama’s health care plan that most affect seniors. The closing of the infamous prescription drug donut hole is one. But there are others.  Beginning in 2011 Medicare Advantage plans will have to reduce members’ out of pocket expenses for some more
Obamacare – What Seniors Need to Know
Recent studies have shown that most Americans, while fearful of President Obama’s new health insurance plan, (something which many opposed to the plan have been quick to capitalize on) don’t really know what’s in it. This is partly due to the President’s failure to educate the general public about it.Â
But Mom Wanted Me to Have the Money
In the last few years readers of my blog know that many of my posts are real stories that highlight the pitfalls and dangers of not putting together a plan for long term care until you are on the doorstep of the nursing home. Here’s another one, with names changed
The Money Wasn’t a Gift – It Was a Transfer to a Caregiver (Part 2)
We were discussing Jim’s dilemma with Medicaid last week. The State discovered additional assets that his grandmother owned, which were not disclosed by Jim’s dad when he filed the Medicaid application a year ago. They are now seeking $50,000 back. Jim believes the money was legitimately Dad’s but he probably
The Money Wasn’t a Gift – It Was a Transfer to a Caregiver (Part 1)
I received a call last week from Jim. His tale was a variation on the same theme you have heard me reiterate for the last few years if you have been reading my blog – how the Medicaid rules are a trap for the unwary. Jim’s dad had cared for