Medicaid Planning Strategies While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets. Three so-called “half a loaf” approaches allow a Medicaid/Medi-Cal applicant to give away some assets while still qualifying for Medicaid/Medi-Cal. In…
HOA Rules and Regulations: Understanding the Framework of Community Living When you purchase a home within a community association, whether it’s a condominium, townhouse, or planned development, you automatically become a member of the homeowners’ association (HOA). This membership entails adherence to a set of rules and regulations established by the association. While some may…
Corona Estate Planning Attorney Joseph Hudack knows that the Social Security trustees are projecting that due to the economic downturn caused by the pandemic, the Social Security trust fund will be depleted in 2033 — one year earlier than the previous estimates. Social Security and Medicare – Once the fund is depleted, Social Security benefits…
Armed with a New Report, White House Pushes Congress to Reduce Prescription Drug Costs Corona Estate Planning Attorney Joseph Hudack – The Biden administration is calling on Congress to pass proposals to lower prescription drug prices, including allowing Medicare to negotiate with drug companies and capping out-of-pocket spending by Medicare beneficiaries. Americans spend on average…
It’s Medicare Open Enrollment Time Corona Estate Planning Attorney Joseph Hudack says that every year Medicare gives beneficiaries a window of opportunity to shop around and determine if their current Medicare plan is still the best one for them. During Medicare’s Open Enrollment Period, which runs from October 15 to December 7, beneficiaries can freely…
Online Survey Helps Older Adults Assess Corona Estate Planning Attorney Joseph Hudack knows that all older Americans are vulnerable to financial abuse, but there are certain circumstances that make someone more likely to be scammed. An online survey can help older adults (or their caregivers) assess their risk of being exploited based on how they…
IRS Announces Corona Estate Planning Attorney Joseph Hudack – The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer, and other products purchased to prevent the spread of the coronavirus. If you have significant medical expenses, you may be able to deduct them from your taxes. Many…
Social Security Benefits Corona Estate Planning Attorney Joseph Hudack says that studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement. Researchers from the University of Michigan studied the expectations of workers and found…
Britney Spears Case Puts Renewed Focus on Guardianships Britney Spears’s legal fight to wrest back control over her personal and financial affairs has flooded the issue of guardianship in Klieg lights. Corona Estate Planning Attorney Joseph Hudack says that while full guardianship may be necessary for many individuals who are incapable of managing their own…
Saying Medicaid Estate Recovery Keeps Families in Poverty, Advocacy Groups Call for Abolishing It Corona Estate Planning Attorney Joseph Hudack knows that to qualify for Medicaid coverage of long-term care, you must satisfy very complicated financial eligibility rules—rules that often can be trapped for the unwary. One of the most significant traps is Medicaid’s right…