MEDICAID AND JOINT ACCOUNTS: IT’S EASY TO BE FOOLED Ten years ago, shortly after Dad died, Mom added Son’s and Daughter’s names to all of her bank accounts – checking, savings, money market and CDs. She wanted them to be able to help her take care of her business, and when she died, she […]
The Medicaid “Personal Needs Allowance”: An Ongoing Shame
Medicaid was passed into law in 1965, back when Lyndon B. Johnson was President. At age 60, I am old enough to remember LBJ. Many of you who are reading this had not yet been born. The cost of living was a lot less then than it is now. First-class stamps and candy bars both […]
Medicaid Protections for the Healthy Spouse
Wes Coulson Explains the Illinois and Missouri Rules, and That Planning Produces Better Results than the Rules would Suggest. The original newsletter that everyone received via an email newsletter today was taken from the National Academy of Elder Law Attorneys (NAELA), a very reputable source. Upon reviewing the article, Wes Coulson noted a need for […]
Transferring Assets to Qualify for Medicaid
Congress has established a period of ineligibility for Medicaid for those who transfer assets. For transfers made prior to February 8, 2006, state Medicaid officials would look only at transfers made within the 36 months prior to the Medicaid application (or 60 months if the transfer was made to or from certain kinds of trusts). […]
Americans Falling Woefully Short on Retirement Savings
What It Means for You and What You Need to Do About It A new study estimates that more than 90 percent of working-age households in the U.S. are not saving enough for retirement. And about 45 percent have nothing saved. In addition, the National Institute on Retirement Security study found that the median retirement […]
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