Estate Planning and Retirement Considerations for Late-in-Life Parents Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. But later-in-life parents have some special estate planning and retirement considerations. The first consideration is to make sure you have an estate [...]
On March 29th, 2018 Attorneys Greg Catarella and Al Kukol spoke at the Broome County Bar Association's Elder Law 2018 CLE. Greg presented on 'Medicaid Planning Tools', and Al spoke about 'The New Tax Rules.' Thank you for sharing your expertise with your fellow attorneys!
Costs of Some New Long-Term Care Insurance Policies Going Down in 2018 While long-term care insurance costs are up in general, some policies are going down in 2018, according to the 2018 Long Term Care Insurance Price Index, an annual report from the American Association for Long-Term Care Insurance (AALTCI), an industry group. A married couple who are both 60 years old would pay an average of $3,490 a year combined for a total of $333,000 of long-term care insurance coverage when they reach [...]
Spending Down Assets to Qualify for Medicaid Medicaid has strict asset rules that require applicants to "spend down" their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering your Medicaid eligibility. In order to be eligible for Medicaid in New York, applicants must have no more than $15,150 in "countable" assets (the dollar figure may differ in other states). In addition, Medicaid also has strict asset transfer [...]
Home Health Care Patients With Chronic Conditions Are Having Trouble Getting Medicare Medicare is supposed to provide up to 35 hours a week of home care to those who qualify, but many Medicare patients with chronic conditions are being wrongly denied such care, according to Kaiser Health News. For a variety of reasons, many home health care agencies are simply telling patients they are not covered. Medicare is mandated to cover home health benefits indefinitely. In addition, Medicare is [...]