When a parent dies, the surviving family members are typically at a loss as to what needs to be done legally, to handle their assets. Here’s a step-by-step guide to get you started on what you need to do when a parent dies. The best advice, though, is to first consult with an experienced and qualified estate planning attorney to make sure you have covered everything. He or she can help guide you through the process, comply with the many legal requirements of estate administration and help you … [Read more...] about Steps to Take When a Parent Dies
Simply because you are healthy right now doesn't mean you may not need long-term care when you get older. This is a common misconception shared by many. The truth is, you don't have to be sick to need Medi-Cal planning. You may not have health issues at the moment, but who can predict how healthy they will be in 40 years? An unexpected injury could also leave you with health issues that require long-term care as well. In fact, more than two-thirds of all individuals over the age of 65 need … [Read more...] about You Don’t Have to Be Sick to Need Medi-Cal Planning
When a parent becomes mentally impaired, it is only a matter of time before they need help taking care of their own personal and financial affairs. Some of the common signs of diminished capacity are disorientation and memory loss. When you see these signs, it may be time to consider taking steps to provide necessary care. It would be best, however, to make plans ahead of time. Whichever course you take, there will be many difficult issues ahead, but your elder law attorney can help. No. 1 – … [Read more...] about 5 Difficult Elder Law Issues and How to Handle Them
An elder law attorney specializes in legal issues that relate to seniors and the problems they tend to face. This particular area of the law only became well-recognized in the 1980s when the legal issues affecting seniors became more complicated. The challenges of qualifying for Medi-Cal coverage at a time when the need for nursing home care was on the rise brought to light the advantages of having an elder law attorney for assistance. So, what exactly does an elder law attorney do? What … [Read more...] about What Does an Elder Law Attorney Do?
It would be logical to go through life with the understanding that your health related expenses will be covered when you are a senior citizen if you will be eligible for Medicare coverage. You qualify for Medicare through the accumulation of retirement credits. These credits are earned when you pay FICA or self-employment taxes. It takes 40 credits to earn eligibility, and you can accumulate as many as four credits in a year. This year, you earn one credit for every $1220 that you earn, so … [Read more...] about What Is Nursing Home Asset Protection?
An important, but frequently overlooked, aspect in Medi-Cal long term care (LTC) benefit planning is Medi-Cal Estate Recovery. The Medi-Cal laws requre that the state pursue recovery from a Medi-Cal LTC beneficiary's estate following death for the benefits obtained during his or her lifetime. These benefits have often been accruing at thousands of dollars a month. In cases of extended periods of care, recovery claims can be hundreds of thousands of dollars. In situations involving a … [Read more...] about Medi-Cal Long Term Care Primer- Part 4 of 4
The second planning consideration for Medi-Cal Long Term Care Benefits (LTC) is called share of cost. Once Medi-Cal LTC eligibility is established (See Part II), attention turns to share of cost. It is the co-pay requirement of Medi-Cal LTC. Typically, a Medi-Cal LTC beneficiary must contribute their monthly income towards the cost of his or her care. This usually includes Social Security, pensions, investment and rental income, among others. Certain deductions are allowed, e.g., health … [Read more...] about Medi-Cal Long Term Care Primer – Part 3 of 4
In this blog, we will address how eligibility for Medi-Cal long term care (LTC) benefits is established. Eligibility is essentially an asset test. For eligibility purposes, assets fall within one of three categories: countable (non-exempt), not countable (exempt) and unavailable (countable, but not counted). To be eligible for Medi-Cal LTC, an individual applicant's countable assets must be below $2,000. If the applicant is married, in 2015, the spouse can have another $119,220 of countable … [Read more...] about Medi-Cal Long Term Care Primer – Part 2 of 4
Many persons are confused about the Medi-Cal Long Term Care benefits program. This is perfectly understandable. Medi-Cal is a complex public benefits program that is a joint venture of the federal, state and county governments. There are state and federal statutes, state and federal regulations, less formal rules and procedures and, add to that, the rules change from time to time and vary from county to county and sometimes among workers within a county. An additional concern in these … [Read more...] about Medi-Cal Long Term Care Primer – Part 1 of 4
In today's blog post in our ongoing series on basic estate planning questions, we are going to focus a bit on the topic of elder law and why it is so important. Most people do not have much experience with elder law, and those who do may not understand exactly what it is an elder law attorney does. To help clarify this important area of the law, here are some basic estate planning questions about it. Basic Estate Planning Question. What is elder law? Elder law is the area of the law that focuses … [Read more...] about Basic Estate Planning Questions – What is Elder Law?