If you are currently enjoying your retirement years, or will be soon, there is a good chance that you will face the need for long-term care (LTC) for you, or a spouse, at some point down the road. If that time does come to pass, covering the cost of LTC may involve qualifying for Medi-Cal benefits. Medi-Cal is California's version of the federal Medicaid program. Like many people, you may have heard stories about impoverished spouses that have you concerned about relying on Medi-Cal for help … [Read more...] about What Are the Spousal Impoverishment Rules?
Long Term Care Planning
Medi-Cal Planning Tips
In order to qualify for Medi- Cal Long Term Care benefits, you as an applicant must fall below certain income and asset thresholds. However, not all your assets are taken into account when it comes to determining whether you meet the requirements. Countable vs. Non-Countable When you submit an application for Medi-Cal Long Term Care benefits, your assets fall into two categories: countable and non-countable. Only your countable assets are part of the equation for determining whether … [Read more...] about Medi-Cal Planning Tips
Veterans Benefits: A Primer – Part 7 of 7
In this final installment, we will focus on additional VA benefits planning strategies. One effective strategy is commonly referred to as "spend down", which simply means to use otherwise countable liquid assets to purchase needed items such as vehicles, medical equipment, etc. The treatment of tax-deferred accounts poses special problems. While the annuitization approach may work in certain circumstances, in others, it may be better to liquidate the account and include it in a spend down … [Read more...] about Veterans Benefits: A Primer – Part 7 of 7
Veterans Benefit: A Primer – Part 6 of 7
As noted in the previous Part, many person who initially contact our office relating to VA benefit eligibility do not immediately qualify for them. In most cases it is because they have too many assets that the VA would count in ascertaining their availability. However, despite the recent restrictions imposed by the VA on eligibility standards, there are effective and legal strategies that can be employed to reduce one's net worth for VA eligibility purposes. One note of caution: There … [Read more...] about Veterans Benefit: A Primer – Part 6 of 7
Veterans Benefits: A Primer – Part 5 of 7
Turning to the financial test in VA eligibility planning, there is much confusion in this area. Unlike the VA Compensation program, whose eligibility tests focus on a veteran's degree of disability and whether or not it was connected to his or her service to our country, the Pension program also focuses on the veteran's income and assets. Effective October 18, 2018, the VA made dramatic changes to the financial eligibility standards. Due to their complexity, they cannot be set forth in … [Read more...] about Veterans Benefits: A Primer – Part 5 of 7
Veterans Benefits: A Primer – Part 4 of 7
In this Part, we will explore the disability test. As previously discussed, if a veteran became disabled while serving the country during his or her military service, he or she will likely be eligible for a disability benefit under the VA's Compensation program, which, unlike the Pension program, is not means tested. To receive a VA pension benefit. however, the veteran must establish his disability in one of two ways. First, a veteran can show that a permanent and totally disabling … [Read more...] about Veterans Benefits: A Primer – Part 4 of 7
Veterans Benefits: A Primer – Part 3 of 7
To be eligible for the VA "Pension", a veteran applicant must satisfy three basic tests: 1. Wartime Service; 2. A Disability; and 3. Limited Assets and Income. We will explore each of these requirements in the next few Parts. A surviving spouse of a veteran must also meet a fourth test, the "Marriage" test. He or she must have been married to a veteran of the opposite gender at the time of the veteran's death, been married for more than one year and have not remarried. Unfortunately, this … [Read more...] about Veterans Benefits: A Primer – Part 3 of 7
Veterans Benefits: A Primer – Part 2 of 7
In Part 2 of this Primer series, we will take a closer look at the VA "Pension" benefit available to certain wartime benefits. The "Pension" benefit is commonly and mistakenly referred to as the "Aid and Attendance" (A & A) benefit. As discussed below, the A & A benefit is but one of three "Pension" benefits. The "Pension" benefit is actually three separate but related benefits. The fundamental benefit is the "Improved Pension". There is an additional benefit for those who meet … [Read more...] about Veterans Benefits: A Primer – Part 2 of 7
Veterans Benefits: A Primer – Part 1 of 7
Our firm regularly assists clients with obtaining benefits available from the Department of Veterans Affairs (VA) for assistance in paying for long term care benefits. The VA requires that attorneys be accredited by the VA in order to represent veterans before the VA relative to their benefits. This author is so accredited. In helping our veteran clients and their surviving spouses, we have learned that there is much confusion about VA benefits and their availability. In this Primer … [Read more...] about Veterans Benefits: A Primer – Part 1 of 7
Our Available Services During COVID-19/Coronavirus Pandemic
The health and safety of our clients, staff, and friends of the law firm are top of mind amid concerns about the spread of the Coronavirus (COVID-19). As estate planning and elder law attorneys, our practice is dedicated to serving our most vulnerable citizens, including seniors, those who are ill, disabled, experiencing mental health challenges and children with special needs. The uncertainty around the pandemic has many people with immune system challenges concerned about exposure to the … [Read more...] about Our Available Services During COVID-19/Coronavirus Pandemic
