Myths and Misconceptions Vlog #3: I Can Gift $15,000 Per Year Without Penalty While many people are familiar with the gift tax exemption, it is often mixed up with the Medicaid five-year look-back rules. Watch the video below for the full explanation by attorney Joan Reed Wilson: If you are having trouble viewing…
Continuing our series about conservatorship guidelines in Connecticut. It’s important to touch base on whether you have any control over who the court appoints as your conservator. As well as whether they will take into consideration your power of attorney agent. People who have watched the Netflix documentary about Britney Spears’ court battle over her…
It’s understandable that some people think that if the assets are under a different name, they are no longer considered yours. While that is true in most cases, Medicaid has slightly different rules.
So don’t put “transfer assets to spouse” on your to-do list just yet. Watch the video below and let Attorney Joan Wilson explain why.
On January 23, 2015, the Department of Veteran Affairs proposed a Veteran’s Benefits Eligibility Rule Change – RIN 2900-AO73, Net Worth, Asset Transfers, and Income Exclusions for Needs-Based Benefits. A rule that would, among other things, impose a 3-year look back for transfers of assets. Including gifts to persons, trusts, and purchases of annuities. The…
What Are Digital Assets? The definition of a digital asset is “anything that exists in binary data which is self-contained, uniquely identifiable, and has a value or ability to use.” Digital assets include but are not exclusive to digital documents, audible content, and motion picture. As well as other relevant digital data that exist on…
The last part of the Connecticut Advance Healthcare Directive form includes a section that begins “I hereby make this anatomical gift…” The section includes several boxes to check to make a choice about which organs the person wants to donate and for what reasons…
