Before we look at the Medicaid Community Spouse Resource Allowance, we should provide some background information about the relevance of the Medicaid program in general. You are probably aware of the fact that Medicaid is a government run health insurance program that exists to help people with very limited financial resources. As a working person, you are paying into the Medicare program, and you will qualify for Medicare when you reach the age of 65. You would not need Medicaid if you have … [Read more...] about What Is the Medicaid Community Spouse Resource Allowance?
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Is Every Estate Subject to the Estate Tax?
When you are looking into the subject of estate planning, you may hear about the federal estate tax and assume that you should be concerned. If you are exposed, you should be extremely concerned, because this death tax carries a 40 percent maximum rate. Fortunately, most people are not exposed to the federal estate tax, because there is a credit or exclusion that is relatively high. The exclusion is the amount that you can transfer before the estate tax would be applicable. It is updated each … [Read more...] about Is Every Estate Subject to the Estate Tax?
Free Report: What Is the Indiana Medicaid Monthly Maintenance Needs Allowance
While this can be understandable on a certain level, if you keep your head stuck in the sand, you may fail to plan ahead for certain eventualities that you may face during your senior years. As a result, you could find yourself in a situation that could have been much more manageable if you had prepared for it in advance. Topics covered in this report include: Paying for Long-Term CareHealthy Spouse & Medicaid Monthly Maintenance Needs Allowance Click here to read the whole article … [Read more...] about Free Report: What Is the Indiana Medicaid Monthly Maintenance Needs Allowance
What Is Digital Estate Planning?
When you are engaged in the process of estate planning, you should consider all of the smaller details. Executing legal documents is the obvious part, but you have to be aware of the process of estate administration. Someone is going to have to attend to the details, and this person is going to need a good bit of relevant information. Some things are relatively obvious. You have to give your estate administrator access to hard copy documents that are going to be relevant to the process, so … [Read more...] about What Is Digital Estate Planning?
Can I Give Gifts to My Children to Qualify for Medicaid?
If you have diligently saved for retirement as a working person, you may wonder why you will ever want to qualify for Medicaid. After all, you will qualify for Medicare to pay for your health care expenses, and Medicaid is a health care program for people with very limited financial resources. This is a very logical rationale, and many younger people see no reason to dig deeply into the Medicare rules and regulations. At the same time, when you look at the facts, you see exactly why you may … [Read more...] about Can I Give Gifts to My Children to Qualify for Medicaid?
Is My Home Part of My Taxable Estate?
People sometimes hear things about estate planning, and they go forward with incomplete information. This can lead to assumptions that yield negative consequences. There are those who embrace the idea that the federal estate tax is only relevant to people who are extremely wealthy. It is true that there is a relatively high credit or exclusion. For the rest of the 2015 calendar year, the exclusion is $5.43 million. There are annual adjustments to account for inflation, … [Read more...] about Is My Home Part of My Taxable Estate?
Free Report: What Is a Special Needs Trust in Indiana
The beneficiary cannot directly handle assets that have been conveyed into the trust. However, the trustee can use of the trust's assets to address the supplemental needs of the beneficiary. Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What Is a Special Needs Trust in Indiana
What Are the Drawbacks of Joint Tenancy?
They say that all that glitters is not gold, and this can enter the picture when it comes to so-called "simple solutions." Something can sound like a good idea on the surface, but when you dig deeper, you can see that the disadvantages could outweigh the advantages. With this in mind, we will look at the drawbacks of joint tenancy in this blog post. Shared Ownership The best way of explaining joint tenancy would be to provide an example. That say that you have one son, … [Read more...] about What Are the Drawbacks of Joint Tenancy?
Elder Law FAQS: How Common is Alzheimer's Disease?
From time to time, this thought may come into your mind: "I wish that I knew then what I know today." This is something that enters the picture when it comes to elder law matters. When you are younger, you may not understand the eventualities that you could face when you reach an advanced age. It can be hard to wrap your head around a time when you will not be capable of all the things you're capable of today. As a result, you may live in the moment without considering how … [Read more...] about Elder Law FAQS: How Common is Alzheimer's Disease?
What Qualities Should I Look for in an Executor?
If you use a will to facilitate asset transfers after you pass away, you should nominate an executor. This is the person who will handle the estate administration chores after your passing. When you think about an estate representative, you may look upon the role as a somewhat ceremonial, honorary one. In reality, there are many different important real-world tasks that the executor must handle to make sure that your wishes become reality. The administration of an estate does not … [Read more...] about What Qualities Should I Look for in an Executor?
