Most adult children feel the need and responsibility to take care of their aging parents if they become unable to care for themselves. Family caregivers are often unpaid, which seems fine initially, but this role can become more difficult as time goes by. If the parent’s needs cause the child to miss work or have…
Today’s video talks about the language of a statutory power of attorney document and the limitations it has when it comes “self dealing”. Essentially, your Power of attorney may not have the ability to transfer assets to themselves. This becomes a problem when you have a couple who are each other’s POAs. I hope this…
WILSON’S UNABRIDGED DICTIONARY: THE ALPHABET SOUP OF THE MEDICARE SAVINGS PROGRAM Estate Planning Attorneys are known for loving acronyms. We like to shorten the names of the tools we use and sometimes throw the terms around, forgetting that not everyone speaks Alphabet Soup. POA, HCD, SNT, QTIP, QPRT, ILIT are just some of the terms…
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: Previously recorded If you are having trouble viewing…
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.
COVID-19 Vaccine – What To Expect? Supply of the COVID-19 vaccine in the United States is expected to be pretty limited in the beginning, so the CDC (Center for Disease Control) has provided recommendations to federal, state, and local governments about who should get the vaccination first. CDC’s recommendations are based on the Advisory Committee…
