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Who is Responsible to Pay the Debt of a Deceased Loved One?

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  If you've helped settle an estate before or even sorted through the belongings of a deceased love one, you're probably familiar with the debt that continues to accrue following their death.  Recent medical expenses and credit card bills are common, and children handling a parent’s estate are often concerned that they are responsible for paying this debt. Family members are generally not … [Read more...] about Who is Responsible to Pay the Debt of a Deceased Loved One?

Medicare and Observation Status

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   For those over the age of 65, Medicare is often an integral piece of the puzzle when it comes to health care. Medicare will pay for certain visits to the hospital. However, one important question will dictate what is paid for during that stay, and what may be paid for after you leave the hospital. That question is whether you are in the hospital as an “inpatient” or simply under “observation” … [Read more...] about Medicare and Observation Status

Medical Assistance Spend Down Process for Nursing Home Costs

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   Having to pay for long term care expenses such as a nursing home can be traumatic to any family.  The cost of the average nursing home is over $10,000.00 a month.  Very few couples have the means to pay this amount over a long period of time.  The scariest part for most couples is there is no end date.  You start paying $10,000.00 a month from your accumulated savings and you don’t know for how … [Read more...] about Medical Assistance Spend Down Process for Nursing Home Costs

Division of Assets: Medicaid Planning for Married Couples

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Division of Assets is the name commonly used for the Spousal Impoverishment Provisions of the Medicare Catastrophic Act of 1988.  It applies only to couples.  The intent of the law was to change the eligibility requirements for Medicaid where one spouse needs nursing home care while the other spouse remains in the community.  The law, in effect, recognizes that it makes little sense to impoverish … [Read more...] about Division of Assets: Medicaid Planning for Married Couples

Division of Assets: Medicaid Planning for Married Couples (Audio)

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 "Division of Assets: Medicaid Planning for Married Couples" by Attorney Nicole Livingston … [Read more...] about Division of Assets: Medicaid Planning for Married Couples (Audio)

Helping Your Parents Through Their Twilight Years

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  Your parents were watching over you, smiling and encouraging, as you took your first tentative steps. As a teenager, they handed you the keys as you took the car out on your own for the first time. They were there with guidance and advice, sometimes requested and sometimes not, as you left childhood and navigated young adulthood. Now that your parents are entering their twilight years, they … [Read more...] about Helping Your Parents Through Their Twilight Years

Medicaid Planning and Your Home

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Medicaid Planning is a very important part of any estate plan.  If you do not want to pay out of pocket for nursing home care, and would like Medicaid to pay for your nursing home, you need to plan for how to do this. When meeting with clients, I often get asked “If I go into a nursing home, will I lose my house?”  The answer is complicated, but if the state’s medical assistance program, … [Read more...] about Medicaid Planning and Your Home