Is your home owned in an irrevocable trust? If so, you may have a life estate interest in your home and your irrevocable trust may own the remainder interest. This means that you continue to own the exclusive right to live in the home for the rest of your life, and are responsible for all...
Last year we addressed anticipated changes to community based Medicaid eligibility (home care) with the passage of the 2020 budget. Be- cause of the pandemic, these new rules have not been implemented. They are currently deferred until October 2022. However, that could change depending on the severity of the new variants. In the last few...
Many of us have at least one step- relative in the family – a step-parent, a step- or half-sibling or a step-child. Because the relationships among step-family members are frequently as strong or stronger than the relationships we have with our direct family members, it is important to take current and potential step- relationships into...
In a landmark decision, the U.S. Supreme Court has ruled that state bans on same-sex marriage are unconstitutional and that states must recognize same-sex marriages performed in other states. Among other implications, the ruling means that same-sex couples living in states that previously did not recognize their marriage will now be covered by Medicaid’s “spousal...
The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government, created to protect depositors of FDIC insured banks and savings associations, against loss due to the failure of the insured bank. It covers all types of deposits, checking, savings, money market and time deposits like certificates of deposit (“CDs”), dollar-for-dollar...
Hospice is a specific type of “palliative care” which focuses on comfort driven care and pain relief, not curing. While palliative care may be available for patients at any stage of an illness, hospice care is for those with “a life-limiting illness,” in other words, people who are un- likely to live for more than...
Federal law requires each state to attempt to recover the benefits paid by Medicaid from the estate of a Medicaid recipient after the recipient’s death. While Medicaid planning is permissible, and Medicaid even promulgates rules to help us plan for future eligibility, many people do not recognize the benefits or avail themselves of these rights....
Expecting and new parents have a lot on their minds and estate planning should be among them. From the anticipation of the arrival of their baby to the sleepless nights with a newborn, becoming a new parent carries new responsibilities. A Last Will and Testament is the only legal way to designate a guardian for...
All too often, we meet with clients who, with the best of intentions, have tried to effectuate Medicaid planning themselves or with an at- torney whose practice concentrates in other areas of the law and not elder law. Invariably, we are asked to fix the mistakes that were made. Regrettably, there are some mistakes that cannot...
Recently, Lamar Odom, the former NBA star who played for the Lakers and the Clippers, was found unconscious in a brothel in Nevada. In addition to being a professional athlete, Odom is famous for his 2009 marriage to reality television star Khloe Kardashian. Although the couple had separated and signed divorce papers in July of...
