Blogs

QDRO for Married Couples without Divorce: Pay Less Taxes/Other Benefits Part 2

A few weeks ago, we introduced a novel planning concept; the marital “Qualified Domestic Relations Order” (QDRO). Most people associate a QDRO with divorce, but divorce is not required to take advantage of this planning technique. The ERISA laws made an exception for early withdrawal penalties with the QDRO. As we know, an ERISA type […]

read more >
Elimination of Medicaid Retroactive Eligibility

Effective February 1, 2019, persons seeking Medicaid benefits to cover the cost of long-term care in a skilled nursing facility can no longer qualify for up to three months of retroactive benefits.  Prior to the change, an application could be filed in one month, and for each previous month the patient met all the Medicaid […]

read more >
Changes to Medicare Advantage Open Enrollment Period in 2019

If you are on a Medicare Advantage Plan (Part C),  changes in federal regulations give you more time to switch Medicare plans beginning in 2019.   The previous Medicare Advantage Disenrollment Period, from January 1 – February 14 each year, is now replaced with the new Medicare Advantage Open Enrollment Period.   What you can do. […]

read more >
QDRO for Married Couples without Divorce: Pay Less Taxes/Other Benefits

We will begin a series of blogs dealing with an innovative retirement planning concept for married couples over the next several months. Be on the lookout for information related to a QDRO for married couples. This can be an effective method of deferring tax liability, gaining control over investments, accessing retirement plan funds to pay […]

read more >
What Should be Included in Living Wills?

Living wills are designed to make it possible for you to decide what level of extraordinary medical care you wish to receive, if any, if you have a terminal condition or an end-stage condition and cannot speak for yourself. Living wills can also give you the opportunity to explain what medical care you wish to receive if you […]

read more >
Why Young Families Can Benefit from Talking to Elder Law Attorneys

Elder law attorneys help senior citizens deal with and plan for the issues which can come with aging. However, seniors are actually not the only ones who could benefit significantly from consulting with an elder law professional. In fact, in many situations, it may be important for young families to get legal help from an attorney […]

read more >
Are Social Security Benefits Taxable?

Individual income tax returns for 2015 are due by April 18, 2016. The IRS filing deadline is usually April 15, but this year’s deadline has been pushed to the following Monday because April 15 is a legal holiday. A portion of your Social Security benefits may be taxable depending on the amount of benefits you […]

read more >
Can I Keep My Pension if I Go On Medicaid?

  Medicaid helps cover the costs of long-term care, nursing home costs and other medical expenses. However, Medicaid only provides coverage to people with limited income and limited countable assets.  If you receive a pension, the amount may be too high for you to qualify for Medicaid to help get the cost of nursing home […]

read more >
What Assets Can I Keep When My Spouse Qualifies for Medicaid?

If your spouse requires long-term care in a skilled nursing facility, the costs can be significant. Nursing homes can cost nearly $100,000 per year and many retirees could quickly exhaust their entire life savings paying for the costs of nursing care.  This is a big problem when one spouse needs to go into a nursing home […]

read more >
Do VA Benefits Pay for a Nursing Home?

The Department of Veterans Affairs provides benefits to eligible former military members. Eligible veterans can apply for VA health care services and receive subsidized or free care depending upon their years of service, whether they have a service-connected disability, and their income. If you qualify for veterans benefits and you need long-term care, it is […]

read more >