Last week, attorneys Greg Catarella & Jamye Lindsey presented to the Broome County Bar Association's "Elder Law 2019 Continuing Legal Education Seminar" on 'Medicaid Planning Tools' and 'Cautionary Tips from the Trenches of an Elder Law Practice', respectively. Thank you for sharing your valuable knowledge with the local legal community!
Protecting Your House After You Move Into a Nursing Home While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim or a lien against your house for the amount expended on your behalf while on Medicaid, so you may want to take steps to protect your house. If possible, you should consult with your attorney before entering a nursing home, or as soon as possible afterwards, in order to discuss [...]
Understanding Medicare's Hospice Benefit Medicare's hospice benefit covers any care that is reasonable and necessary for easing the course of a terminal illness. It is one of Medicare's most comprehensive benefits and can be extremely helpful to both the terminally ill individual and his or her family, but it is little understood and underutilized. Understanding what is offered ahead of time may help Medicare beneficiaries and their families make the difficult decision to choose hospice if the [...]
Make Sure Your Plan Beneficiary Choices Are Up to Date Many people periodically update their wills or other estate plans, but don't update who will receive distributions from their retirement plans (such as IRAs and 401(k)s) upon their deaths. Every year you should review your entire estate plan, and the review should include retirement plan "beneficiary designations" to make sure they aren't outdated. The following are some tips for naming a retirement plan beneficiary: It is important to [...]
Estate Planning for a Vacation Home If you are lucky enough to own a vacation home, then you need to figure out what will happen to it after you are gone. Many parents hope to keep vacation homes in the family, but guaranteeing that can be tricky. While meant to be fun and relaxing places to get away from everyday life, vacation houses can cause problems between siblings after their parents pass away. Some siblings may want to use the house, while others may need cash and want to sell. There [...]