What are Medicaid's Gifting Rules? Under Medicaid law, if you gift assets within five years before applying for Long-Term Care benefits, you will be ineligible for a period of time (called a transfer penalty), depending on how much you give away. While federal tax...
If you are over the age of 60 and you haven't updated your Estate Plan in many years, it's almost certain that you need to update your documents. After that, you should review your plan every five years or so. In case of a crisis . . . Everyone needs a Durable Power...
The internet can be a wonderful resource for all kinds of information. Use of legal documents, unfortunately, is not one of them. Free online forms that create your Estate Plan might sound enticing, but they will cost you. Bad planning means court involvement,...
What does Transfer on Death mean and how does it work as an Estate Planning tool?
Throughout all of this, though I was able to call and report my concerns, I had no right to know what was actually being done on my neighbor’s behalf.
In 2008, Washington became the second state to adopt the "Death with Dignity Act." Under this act, medical doctors and osteopathic physicians must prescribe terminally ill patients lethal doses of medication upon request. Of course, there are restrictions to the law,...
If you have a child who has special needs and is unable to care for themselves because of those needs, you may be interested in setting up a Special Needs Trust. Otherwise known as a Supplemental Needs Trust or an SNT, a Special Needs Trust is designed to ensure that...
In our last article, Current Medicaid Standards for Washington, we listed the requirements that must be met in order to qualify for Medicaid Long-Term Care government benefits as of January 2019 for Washington Residents. These benefits pay for Long-Term Care costs....
Medicaid is a great resource for paying for Long-Term Care, but the rules are complex and change frequently. So what are the current Medicaid standards?
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