Yes, as long as your family is using the car to take you to doctor’s visits and out of the nursing home, then you can keep your car. Interested in learning more about Medicaid and how to plan for long-term care click here. Don’t let long-term health care costs drain in months what you saved [...]
Q&A Series: “Can I keep my car after I go into a nursing home if Medicaid is paying for my care?”
April 25th, 2012Family Wealth Report – April 24, 2012
April 24th, 2012Published by Surprenant & Beneski, P.C. Providing Estate, Tax, Medicaid and Special Needs Planning In This Issue Feature Article – Medicaid Qualified Annuities Recipe of the Week – Mug Brownies S&B Recommends – A Grown Up Kind of Pretty by Joshilyn Jackson Michelle’s Corner Hi, Things have been very busy around the office the last [...]
Q&A Series: “Do I have to sell my home if I go into the nursing home and Medicaid pays for my care?”
April 23rd, 2012No! This is another common myth. As long as on your Medicaid application (MassHealth in Massachusetts) you check the box indicating you intend to return home you can keep your home even after you are approved for MassHealth. You can do this even if it is very unrealistic to think you could return home, as [...]
Q&A Series: “Can’t I give away $10,000 before Medicaid will impose a penalty?”
April 20th, 2012No! This is a very common myth! You are confusing the gift tax rule with the Medicaid rule. Under the federal gift tax law, any one person can give any other person up to $13,000 per year without having to file a gift tax return. The amount of the gifting allowed before having to file [...]
Medicaid Qualifying Annuities
April 18th, 2012Why is this important? According to the Commonwealth of Massachusetts, the average cost to private pay for long-term care in a facility is $8,400 per month, or $100,800 per year. In reality, our firm rarely sees average monthly costs less then $10,000 per month, or $120,000 per year. While Medicaid can pay that bill, it [...]
Family Wealth Report – April 17, 2012
April 17th, 2012Published by Surprenant & Beneski, P.C. Providing Estate, Tax, Medicaid and Special Needs Planning In This Issue Feature Article – Adult Family Care Program Recipe of the Week – Sensational Sirloin Kabobs S&B Recommends – The Innocent by David Baldacci Dan’s Corner Greetings, I am back in the office after a much-needed trip to Florida [...]
New Alzheimer’s Drug
April 11th, 2012An experimental new drug, bapineuzumab, has been announced which may lower a marker of Alzheimer’s Disease seen in the spinal fluid of patients with mild to moderate disease, a small new study finds. It will take more time and research to determine truly what beneficial effect this drug may have on slowing down or stopping [...]
Family Wealth Report – April 10, 2012
April 10th, 2012Published by Surprenant & Beneski, P.C. Providing Estate, Tax, Medicaid and Special Needs Planning In This Issue Feature Article – Reverse Mortgage Borrowers Are Getting Younger, Which May Not Be a Good Thing Recipe of the Week – Broiled Salmon with Sweet Red Pepper Sauce S&B Recommends – Titanic Michelle’s Corner Hi, I hope you’ve [...]
Touching
April 6th, 2012I recently read an article in the New York Times about a gentleman named Charles Darwin Snelling. Mr. Snelling wrote a reader response to a column titled “The Life Report.” In Mr. Snelling’s piece, romantically titled, “A Love Story and Redemption,” he tells the story of his life with his wife, Adrienne. I was moved [...]
Scams Targeting Seniors
April 4th, 2012In a recent article by www.cbsnews.com titled “Losses Mount from Scams Targeting Older Americans,” baby-boomers have become susceptible to scams, frauds and other financial exploitation. Elder financial abuse encompasses a wide range of tactics, some perpetrated by relatives or trusted advisers, some by strangers via telemarketing and Internet-based scams. Since many of these atrocities go [...]