A life estate deed is a tool that can help with estate planning. With a life estate deed, people deed real estate to another party, but reserve a life estate, which means they have the legal right to occupy the property until death. Upon death, the property passes to the beneficiaries. Life estate deeds can […]
If you are concerned about long-term care and nursing home expenses, purchasing a long-term care insurance policy can be extremely beneficial. Long Term Care Policies are insurance policies that pay for nursing home expenses. Although many people think that Medicare or Medicaid will pay for long-term care expenses, this is not exactly true. Medicare will […]
Medicaid is a program that pays for medical expenses and nursing home costs. Medicaid is a joint federal and state government program, so the rules about Medicaid eligibility vary from state to state. The requirements are generally fairly strict, because the program is intended to only pay for nursing home expenses of individuals with low […]
Medicaid is a program that is jointly funded between the federal government and individual states. Medicaid pays for medical care for certain low-income individuals. One of the most important benefits of Medicaid for many seniors is the nursing home payment – Medicaid will pay for long-term care in a nursing home. However, in order to […]
National Senior Health & Fitness Day is being celebrated at a completely free fair on Wednesday, May 29, 2013 from 12-4 PM at the Akron-Newstead Senior Center, 5691 Cummings Road, Akron, NY. The goal of this health and fitness day is to promote the importance of regular physical activity and to improve the health and […]
If you require nursing home care, your home can be transferred to certain relatives without disqualifying you from Medicaid. The five-year look-back period does not apply to transfers of your primary residence to: Your spouse and minor, disabled or blind children. Your sibling with an equity interest who has resided in the home for at […]
Over the past year, you may have heard about Medicaid recovery against a deceased nursing home patient’s jointly held property, retained life estates and interests in trusts. 2011 state legislation, administrative directives and emergency regulations expanded the definition of the “estate” that was subject to recovery by Medicaid to non-probate assets. That law was recently […]