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Open enrollment for the 2009 Medicare Part D benefit period started November 15, 2008 and will end December 31, 2008. If you already have Medicare Part D coverage or a Medicare Advantage Plan (a combined Medicare and Medicare Part D plan), this is also the period during which you can change from one plan to another. Enroll […]

Joint ownership arises where two or more people own an undivided interest in an asset or property. When one of the owners dies, the entire ownership passes automatically to the surviving joint owner without going through probate. Because the use of joint property can avoid probate, people sometimes use it as an estate planning method. […]

There is perhaps no more important task than hiring someone to assist with the personal care of family member.  Given the recent proliferation of individuals and agencies holding themselves out as “home care givers” it is especially important to do your “homework” on the home helpers.  Here are list of questions to ask in order […]

  
The “Baby Boomers”, the generation born between 1946 and 1964, have turned 60 years old.  Among the Americans celebrating their 60th are our two most recent presidents, George W. Bush and Bill Clinton. Other well-known celebrities reaching this milestone include Cher, Donald Trump and Sylvester Stallone.
To commemorate this occasion, the Census Bureau has compiled a […]

  
With many of our senior clients, someone other than the senior (e.g. - the child of the senior) is paying for the expenses associated with their care.  Individuals who pay for the care of another may be entitled to deduct the cost of care on their tax return if they meet four requirements:
First, they must pay […]

  
On September 26, 2008, the FDIC expanded FDIC coverage for living trust and pay-on-death type accounts.  As of October 3, 2008, FDIC insurance coverage limits were increased.  Some of these changes are permanent and some are only temporary unless further legislation is passed.
To fully understand the recent FDIC rule changes see our August 2008 article “Understanding […]

  
Michigan recently changed its Medicaid eligibility rules regarding the treatment of payments made to family members for personal care and home maintenance.  These changes should be a concern for anyone who is compensating a family member for taking care of them or their home and who may need to apply for Medicaid assistance.
Prior to the […]

  
Against the backdrop of difficult economic times, investors have become increasingly concerned about the security of their investments.  The FDIC is an agency that insures funds on deposit with certain banks and savings associations. The FDIC recently created the Electronic Deposit Insurance Estimator (EDIE), which is an online application that enables you to calculate the insurance coverage […]

  
As medicine, technology, and methods of treatment evolve, people are living longer. While most aging individuals prefer to be cared for in the familiar surroundings of their own homes, that is not always possible. In most cases, a variety of care alternatives will be needed over the remaining years of an individual’s life. This article […]

There have been a number of changes to the Medicaid rules over the last year.  The most significant changes relate to the impact that making a gift has on a person’s ability to qualify for nursing home Medicaid benefits.  If you or anyone you know may need to apply for nursing home Medicaid benefits in […]