Often holidays are a time when family and friends get together and this being the case, it can be a good time to initiate conversations with loved ones about difficult topics, one of which is end of life wishes.
Encouraging your loved one, not only to speak to you, but to speak to all family members about his/her wishes so that everyone is on the same page can minimize your stress down the road.
Monday, December 23, 2013
Thursday, December 12, 2013
Speaking of gifting, many people think that they cannot give anything away and receive Medicaid.
Others are under the impression that inheritances are protected if the other spouse goes into a nursing home, or that "protected" assets pursuant to a prenuptial agreement will not be countable if the other goes into a nursing home.
However, these common assumptions are NOT true.
The Medicaid rules do provide some exceptions to the disqualification rules and therefore, some asset transfers are not penalized. For information relating to these exceptions, it is important to consult an attorney who is familiar with the laws of Medicaid.