Long Term Care Insurance Partnership Program – Frequently Asked Questions
Last week we were discussing the long term care partnership program which was reinstated as part of the last round of changes to the Medicaid laws in 2006. Now let’s answer some frequently asked questions. Purchasing a “partnership policy” allows you to protect an additional dollar amount in assets above the
What is the Long Term Care Insurance Partnership Program?
Is it possible to purchase long term care insurance and be able to protect more than the minimum number of assets that Medicaid allows to qualify for benefits? The question is a reference to something called the Long Term Care Partnership program. The partnership program is designed to encourage people to
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
I’ve Been Named Agent Under Power of Attorney – Now What?
Recently, I was asked to serve as agent under Power of Attorney for husband and wife clients. We’ll call them Harry and Wilma. Both are in their 80’s and just moved to a nursing facility. As their legal representative, I will be doing the types of things that, as an
Medicaid is No Piece of Cake (Part 2)
Last week we were examining Mary Jane’s problem getting Medicaid for her mom. Specifically, the issue was a joint account held by mother and daughter. Into that account, Mary Jane deposited her income which she used to pay for household bills, such as utilities, real estate taxes, homeowner’s insurance etc. She
Medicaid Is No Piece of Cake (Part 1)
Mary Jane told me, “Mom has no money. She’s never had any money. But Medicaid still denied her application and now I owe the nursing home $40,000.” I knew there had to be more to her story. Sure enough, there was. It’s a very common belief that, because Mom and Dad
News Alert – VA Rules Changes Coming
The winds of change are blowing over the VA landscape. I’ve written about this in the past and the time may soon be here.  These are changes that you need to understand. Over the years, many of our clients have been able to qualify for an Improved Pension (sometimes called Aid
Lost Assets and Medicaid (Part 2)
Last week we were discussing George’s problem. He was rapidly spending down Mom’s assets and preparing to apply for Medicaid when he discovered that she and Dad owned some stock. He could not, however, locate the physical stock certificates. What to do? We asked George if he could find an account
Lost Assets and Medicaid
What happens if you need to apply for Medicaid and you know there are assets but you can’t locate them? We were working with George to prepare his mother for Medicaid. He was spending down her remaining assets when he discovered some papers that suggested she might own some stock
Long Term Care Planning – Should I Wait and See?
I consistently emphasize that we can achieve the most favorable results for our clients with the benefit of time, meaning we want to work with clients as far as possible before they reach crisis mode. I know, however, that there is a general resistance to taking action. Long term care