Thinking About Transferring Your Home to Your Children?
Jamie called because her dad was in need of Medicaid. He was now in a nursing home and Mom was living at home. They had about $120,000 of countable assets. I asked about the home and Jamie told me her parents had transferred it to her 7 years earlier.
New Medicaid and VA Figures for 2014
Many of the programs that, as elder law attorneys, we deal with daily, such as VA Aid and Attendance and Medicaid, are adjusted annually to account for changes in the cost of living ie. inflation. The Social Security Administration announced that Social Security recipients will receive a 1.5% in benefits starting
What is the CSRA and How is it Calculated? (Part 2)
Last week we were discussing the Community Spouse Resource Allowance (CSRA) and how to calculate it. I also explained that a mistake in determining that number can be quite costly. Here’s how. Using my example from last week, let’s say husband, Joe is in the nursing home and wife, Mary has
What is the CSRA and How is it Calculated? (Part 1)
CSRA stands for community spouse resource allowance, that amount of money that a healthy spouse can keep and still qualify the ill spouse for Medicaid. Sounds simple but if misunderstood and misapplied, it can cost the healthy spouse tens of thousands of dollars in lost assets and additional nursing home
Dad Gets German Reparations Money – Can Mom Keep it All?
Jerry’s dad receives a monthly check from the German government, compensation as a result of his suffering at the hands of the Nazis in World War II. Dad has dementia and will soon need nursing home care. Jerry is trying to preserve as much as he can for his mom,