2023 Medicaid Numbers
Last month in this blog I updated you on some of the new Social Security and Medicare numbers for 2023. The recently announced cost of living adjustment (COLA) of 8.7% has resulted in another big jump in benefits for the second year. Many other federal programs are tied to the
Real Estate Sale After Death (Part 2)
In my blog post last week, I told you about a number of cases in our office in which we were contacted to help with a real estate closing that was delayed at the last minute. Shortly before the closing it was discovered that the person who signed the real estate
Real Estate Sale After Death (Part 1)
Real Estate Sale After Death (Part 1) In recent months we have had a number of calls coming to our office with the following problem. The caller explains that he or she is attempting to sell a home owned by another family member. A buyer is found but then shortly before the closing
2023 Social Security COLA
Every year the relevant numbers for the government programs we work with change. It starts with the Social Security Administration, which announces its cost of living adjustment (COLA). Other government programs then adjust their numbers, sometimes using the same COLA as Social Security. For many years the adjustment has been small and there
Fraud Prevention – Part 2
In last week’s post I wrote about the increasing number of our senior clients falling victim to online financial scams. Once money has left your account the chances of recovering it are remote. So, the best defense is to prevent it from happening in the first place. As I stated last week, there
Fraud Prevention – Part 1
As internet use and online business have increased, so has online financial theft and fraud. Seniors are especially susceptible for a number of reasons. For one thing, criminals go where the money is. Much of the country’s wealth is held by the older population. Secondly, as we age, our cognitive skills are not what
Recent Trends in Medicaid
I have always said that the desire to quickly file a Medicaid application should be tempered by the ability to provide the documentation that is required for an application to be successful. The State is now scrutinizing every single transaction in and out of every single account that existed in
Sunset Provision for Social Security and Medicare? – Part 2
In last week’s post I started to discuss clauses found in some laws that are called “sunset provisions”. They are essentially expiration dates for a law. We’ve seen them in estate tax laws. The current federal estate tax exemption is scheduled to “sunset” in 2025, unless Congress votes to extend. The key here is
Unintended Consequences – Part 2
In my post last week, I started to tell you about an interesting estate administration case involving an heir who had legally adopted the decedent a number of years before the decedent died. This was an adult adoption in which the adopted parent was only 10 years older than the adopted
Unintended Consequences (Part 1)
In this week’s post I’ll tell you about an interesting issue that came to our office involving an estate administration matter. The decedent left a portion of his estate to his friend. What I also learned is that the friend who was 10 or so years older than the decedent, legally adopted