Long-Term Care Planning
Is a Reverse Mortgage Right for You?
By Kim Boyer
Planning for retirement is essential. What if you are behind in your retirement savings? According to a January 2024 article in The Motley Fool, some suggestions include working longer, saving aggressively, investing more effectively, relocating to a less costly living situation, and looking into a reverse mortgage. […]
How Nevada Medicaid is Viewing Special Needs Trusts
We attended a seminar in Reno where we learned from the Nevada Medicaid Office how they are currently viewing the special needs trust (“SNT”). A special needs trust is a trust used to hold the assets of a disabled person who is under age 65. If the trust is drafted correctly, the assets […]
What is the five-year “look-back” and how does it work?
By Kim Boyer
When applying for Medicaid, the state will “look back” to see if any gifts have been made. The state will not let you just give away your property or your money to qualify for Medicaid. Any gifts or transfers for less than fair market value that are made during the “look back” […]
Importance of Medicaid Planning from a Nursing Home Perspective
By Kim Boyer
Without proper planning, some nursing home residents do not become qualified for Medicaid or maintain their eligibility. If that occurs, the resident may not receive necessary services, or the nursing home may not be paid for its services. Here are some actual case examples:
Case One: A nursing home called our office […]
I was told our income is too high for Medicaid. What can we do?
By Kim Boyer
Margaret and Sam have been married for 41 years. Sam suffers a paralyzing stroke. Margaret is distraught. “The doctor says Sam needs long-term care in a nursing home,” Margaret says. “The case worker said our income is too high to qualify for Medicaid, and we have to apply through the county after […]
Medicaid Estate Recovery in Nevada
By Kim Boyer
Under federal law, state Medicaid programs must recover from the estates of deceased Medicaid beneficiaries. This recoupment is referred to as “Medicaid Estate Recovery.” Usually the greatest asset owned by people facing a long-term care stay is their home. […]
Medicaid Division of Assets in Nevada
By Kim Boyer
Many people worry about how to pay for long-term care costs, as they can be substantial and jeopardize financial security. There are some protections in Nevada if your spouse needs long-term care. This article talks about an equal division of assets and then provides an overview of Medicaid rules in Nevada. […]
How to Protect Your Assets from Rising Nursing Home Costs
By Kim Boyer Senior Press April 2003
Ralph and Alice just celebrated their 51st wedding anniversary. Ralph, who has Alzheimer’s, wandered away from home. The police found him sitting on a street curb, talking incoherently. They took him to a hospital. Now the family doctor has told Alice that she needs to place Ralph […]
Medicaid Spend Down
By Kim Boyer
What is a spend down? This is the amount by which a Medicaid applicant’s allowable resources must be reduced before eligibility can be obtained. The concept applies to both married and single applicants, although there are additional methods of spend down for married applicants. […]
Successful Medicaid Planning
By Kim Boyer
The budget crisis has made obtaining Medicaid more difficult. Still, elder law attorneys may be able to assist individuals and families in developing estate plans to avoid depleting their assets, should they become ill and need long term care.
For those individuals who are already in a nursing home, despite the harsh […]
Avoid Medicaid Traps When Child is a Caregiver
By Kim Boyer
Over 22 million Americans care for their ailing parents, other relatives or friends. Most of these caregivers do so without compensation. Taking certain steps ahead of time may save assets from Medicaid.
If caregiving services are being provided by a child, but no caregiver contract is in place, the family risks losing […]
Tax Deduction For Family Caregiver Services
By Kim Boyer
Many times family members or friends provide care to a loved one for a fee. These family members or friends are typically unlicensed caregivers. Can the person paying for the care deduct the payments as a medical expense on their income tax return?
Medical expenses, not compensated for by […]
VA Benefits: Family Caregiver Payments
By Kim Boyer
Many veterans or surviving spouses of veterans are unaware that they could qualify for significant cash benefits under the improved pension program through the Department of Veterans Affairs (“VA”). This is often referred to as “aid and attendance.” Even for those who have heard about this VA benefit, many may be […]
VA Issues New Policy on Aid and Attendance
By Kim Boyer
I visited San Antonio, Texas for training. During our breaks, we walked along the beautiful river walk, and visited The Alamo. As we were getting ready to board our return flight, they called for all the sailors and soldiers to board the plane first. The crowd waiting to board broke into […]