Elder law is an area of legal practice that specializes in issues that affect the elderly. The purpose of elder law planning is to prepare the elderly person for financial freedom and autonomy through proper financial planning and long-term care options.
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.
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 on Immunization Practices (ACIP), an independent…
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…
MYTH 1: “Medicare Will Pay for Long-Term Care such as an Assisted Living Community or and Nursing Home.”
What Is Elder Law? Before we dive into the many reasons you need an Elder Law Attorney in CT, let’s first touch base on what Elder Law is. Elder law refers to numerous legal issues specifically affecting elderly people. With age, many issues may surface, from declining health to financial burdens. Seniors face complex legal…
Can you gift $10,000 a year without a penalty? For tax purposes yes, with the Gift Tax Exclusion. With the holidays around the corner and the end of the year fast approaching, many of you may be thinking about making gifts for your children and grandchildren. If you want to avoid paying a gift tax…
