The new year comes with a certain amount of trepidation for those living on fixed incomes; particularly senior citizens who depend on Social Security benefits as well as income tax refunds to make ends meet during the year. However, there are many people who have been overpaid benefits, and the Social Security Administration wants the money back. However, recovering overpayments…Read More
To persons of a certain age in Ohio and elsewhere, it likely doesn’t seem that long ago that many people regarded estate planning as some esoteric prerogative of only the super rich. These days, there is a far greater appreciation among many millions of individuals and families in the United States that planning — that is, well-considered, timely and comprehensive…Read More
After a brief holiday break, we are back to the 8 Nights of Medicaid Planning. Last time, we talked about quality of care. Today’s topic is family financial responsibility for long term care and final expenses. There is a common belief out there that if an individual cannot pay for their long term care, that their family will have to…Read More
Interestingly, it appears that baby boomers do not all feel that they owe their children the same things. Recent polls found that more than half — 54 percent — think that they should not have an obligation to leave money behind for their children. The remaining 46 percent begged to differ, but the difference is worthy of note. Some high-profit…Read More
Last time, we talked about the dreaded Look Back Period. In the third part of our Hanukkah inspired Medicaid Planning series we are going to talk about nursing homes and quality of care. There is a myth out there that people who receive Medicaid can’t pick their nursing home or receive sub standard care. This simply isn’t true. Now I…Read More
Tis the season to do holiday shopping. This may a joy to many people, but it be annoying when you have to search far and wide for a parking spot. This can be made even more difficult if you are disabled and the handicapped spaces are continually full. While timing may be a part of this frustration, it may be…Read More
Today’s post in the Hanukkah inspired 8 nights of elder law talks about the dreaded “look back period”. The vast majority of the people the I meet with say, “I have heard about a “look back period”, but I need care now, so I can’t get benefits.” This is both true and false. The government will look at any transfers…Read More
In honor of the start of Hanukkah, we’ve decided to dedicate eight entries over eight days to the most common myths about Medicaid and Medicaid Planning. Myth #1. “I have a “living trust” so my assets are protected.” This, I think, is one of if not the biggest myth in Medicaid planning. A “living trust” or more appropriately called a…Read More
Applying for Social Security disability benefits can be a long and arduous process. It can be especially disheartening to find that your initial petition has been denied; particularly after you waited so long to receive an answer on your application. Overall, about 66 percent of initial disability petitions are denied. Additionally, the reconsideration process does not normally fare well for…Read More
We can’t know what the future holds. We always hope for the best, but we must anticipate worst-case scenarios. Wise individuals do all they can to plan for such circumstances. This becomes even more significant an issue for those in Ohio who are in the upper ranks of the age demographic. The reality is that people are living longer. If…Read More
