Expert Author: Martin Petroff | Category: Legal For purposes of Medicaid eligibility for home care and nursing home service, it is important to note that war reparation payments made by Germany to Holocaust survivors and payments made under the Austrian General Social Insurance Act are considered exempt as income and resources . This article discusses how these payments can be isolated from a holocaust survivor's assets so as not to jeopardize Medicaid eligibility.
Expert Author: Martin Petroff | Category: Legal Supplemental-needs trusts (SNTs) are becoming popular planning tools for persons with disabilities. These trusts, sometimes called special-needs trusts, are aimed at enhancing the lives of disabled individuals without jeopardizing their eligibility for Medicaid and Supplemental Security Income (SSI).
Most people think that a Will is only for people who want to set up trusts or save on estate taxes. The primary reason for making a Will, however, is to leave your property to those you care about in the manner and proportions you choose. This article discusses the basics of writing a will.
Expert Author: Martin Petroff | Category: Legal This article discusses the basics of living wills and health care proxies. There are differences between these two legal instruments and it is important for people to understand their relative advantages and disadvantages.
Expert Author: Martin Petroff | Category: Legal This article discusses the basics of creating a durable power of attorney, a necessary tool for the management of estates as well as for Medicaid and public benefit planning. The “durable” power of attorney is unlike the ordinary power of attorney in that it does not become inoperative upon the incapacity of the principal.
This article discusses issues behind the creation of legal guardianships in New York State for "Allegedly Incapacitated Persons". Under New York State law a court may appoint a guardian for a person whenever it finds by “clear and convincing evidence” that an alleged incapacitated person, the “AIP,” cannot adequately understand and appreciate the nature and consequences of his/her particular inabilities; and is likely to suffer harm because of these limitations and the inability to appreciate the consequences of the limitations.
A detailed analysis interpreting the tax code is beyond the scope of this article. What follows is a broad overview of the types of expenses that may be permitted as long-term-care medical expenses depending on a particular individual’s circumstances.
The pooled trust is now proving to be a very popular planning tool for persons in need of long-term health-care services and for whom the excess-income option did not work because it would not allow them sufficient money to live in the community and qualify for Medicaid. This article gives some detail on practical uses of this tool for elder care planning.
People who anticipate the need for home care or nursing-home care should understand that notwithstanding recent changes in the Medicaid eligibility rules, they do not have to "beome poor" and spend down their savings or
income to qualify for Medicaid services. This article provides valuable information on planning for home and health care.
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