It is not too unusual for a child to try to cover the cost of a parent's nursing home stay by taking out a home equity loan against the parent's house. Wise move or not?
It is certainly possible for a parent to sign a deed transferring complete title of the parent's home to a child. However, the parent should be very sure he or she understands the ramifications of signing such a deed. This article will help you avoid the pitfalls of making such a gift to a child.
How do you go about selecting an elder care/elder law attorney? How do they typically charge for their services? An attorney gives you the inside scoop!
How do you go about finding a good nursing home, one which will properly care for the emotional as well as physical and medical needs of your family member? This article discusses some of the current resources available to help make this decision easier for you and your family.
Many people are aware that there is some exemption for gifts, but they often assume that the gift tax exemption applies to Medicaid transfers. Is that true? This article sorts this all out.
Most people know that in order to qualify for Medicaid coverage of a long-term stay in a nursing home, the nursing home resident cannot own more than $2,000 in cash or other "countable" assets. But if you're married, and one spouse is going into a nursing home and the other is remaining "in the community" (i.e., continuing to reside at home), how much can the so-called "Community Spouse" retain? This article discusses the rules.
A so-called "Medicaid annuity" can be a great technique to preserve assets when you or a family member are applying for long-term care Medicaid coverage. What are the rules and when would this be a good idea?
There is a certain type of annuity that can be useful if you are single and are facing a long-term stay in a nursing home. This article discusses what you need to know before considering this option.
"Should I put the kids' names on the deed?" "Should I take my wife's name off the deed?" "Should I just sell the house now?" What, indeed, is the best way to protect your house, if you or your spouse should ever need to go into a nursing home?
Often an elder law attorney will suggest that clients transfer their home to their children, retaining a "life estate." What does that mean, and what are the consequences of such an arrangement? Can it help protect the house if the parents ever go into a nursing home?
Even if you qualify for Medicaid to pay your nursing home bills, the state can still come after your spouse's estate should your spouse pre-decease you. This article discusses a recent NJ case interpreting this area of the law and what you may do to avoid this harsh result.
Can you safely rely on the planning your neighbor or co-worker engaged in, when faced with paying for the long-term care of a family member? This article discusses the pitfalls of doing so!
Many seniors are pitched the benefits of a "reverse mortgage" as a way to "unlock" the equity in their homes and pay for a better lifestyle. Does this make any sense? In what circumstances? What if one spouse needs to move into a nursing home? This articles discusses the important details.
How is your ownership of a life insurance policy treated when you apply for Medicaid to cover your nursing home bills? Can you really make money "disappear" with a certain type of life insurance policy that's now being promoted?
Qualifying for Medicaid coverage of a family member's nursing home care is only the first step. Too many people are unaware that upon the family member's death, every penny of benefits must be repaid to the state! This article discusses the rules and exceptions.
Merely qualifying for Medicaid for nursing home care is not enough if upon your death your family will have to pay back the state every dime of benefits they paid out on your behalf during your lifetime. There must be some planning techniques you can implement, right? Some "secrets" to avoid that harsh rule? This article discusses some options.
It's not enough to qualify for Medicaid unless you also plan for the possibility of "estate recovery." That's when the state presents a bill to the estate of the person who had been receiving Medicaid, for all Medicaid payments it made on behalf of the Medicaid recipient, following that person's death. There are some exceptions, however, that prevent such recovery, which are discussed in this article.
While it is important to do planning if you wish to protect your assets from nursing home costs, there are unscrupulous promoters willing to take your cash for bogus plans. This article discusses some of the pitfalls.
A stair lift can help you regain some freedom and independence if you have limited mobility, by taking the daily struggle out of using the stairs. The two main sorts of home stair lifts are straight and curved stair lifts. Which one you require depends on the layout of your staircase.
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