The amount you can gift without filing a tax return is increasing to $16,000 in 2022, the first increase since 2018. The federal estate tax exclusion is also climbing to more than $12 million [...]
My mom needs Medicaid for a possible future stay in a nursing home. She has not given any of her children power of attorney, and she [...]
The Biden administration is moving forward with a Trump-era pilot program that would hand over the care of millions of Medicare beneficiaries to private, mostly for-profit, groups.
Elder law and estate planning serve two different--but equally vital--functions. The main difference is that elder law is focused on preserving your assets during your lifetime, while estate [...]
Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.
While everyone should have a durable power of attorney that appoints someone to act for them if they become incapacitated, in some circumstances it is not enough. In these cases, a revocable [...]
Does the Person Who Received a Gift from a Medicaid Applicant Have to Be the One to Return it to Erase the Medicaid Penalty?
My mother gifted money to her granddaughter. Now my mother needs to apply for Medicaid and will be subject to a penalty period as a result of the gift. The granddaughter has spent the money, [...]