Promissory Notes and Medicaid
A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility.
When Can an Adult Child Be Liable for a Parent’s Nursing Home Bill?
Although a nursing home cannot require a child to be personally liable for their parent's nursing home bill, there are circumstances in which children can end up having to pay.
Choosing Retirement Account Beneficiaries Requires Some Thought
The choice of beneficiary for IRA, SEP or 401(k) or other retirement plans can have significant tax implications. Here are some of the rules and concerns when designating beneficiaries.
Proving That a Transfer Was Not Made in Order to Qualify for Medicaid
Medicaid law imposes a penalty period if you transferred assets within five years of applying, but what if the transfers had nothing to do with Medicaid? How do you prove you made the transfers for a purpose other than to qualify for Medicaid?
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. But later-in-life parents have some special estate planning and retirement considerations.
When Can You Claim VA Benefits For A Spouse?
How to Save for a Disabled Loved One
Getting Out of Debt in 2018
How Will the New Tax Law Affect You?
While most of the new tax law has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers, including changes to the estate tax and 529 accounts.
Documentary Stamp Tax Pitfalls
Estate Planning, Ethical Wills, and Holiday Gatherings
End of Year Charitable Giving
You Can Give Away More Tax Free in 2018
After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. Very few taxpayers will have to pay a gift tax in any case.
Three Reasons Why Giving Your House to Your Children Isn’t the Best Way to Protect It From Medicaid
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.
National Adoption Month – Adoption in Florida
Navigating Adoption In Florida
Estate Planning Tips
Diagnosed with Breast Cancer? Preserve Your Legacy.
Staying Eligible for Medicaid after the Death of a Spouse
When one member of a couple moves to a nursing home, we expect that spouse will be the first to die, but this isn’t always the case. What happens if a Medicaid recipient's spouse dies first?