A promissory note is normally given in return for a loan and it is simply a promise to repay the amount. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to...

Elderlaw 101

Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. ...

Elderlaw 101

Many people are willing to voluntarily care for a parent or loved one without any promise of compensation. Even so, ...

Elderlaw 101

Medicaid (called "Medi-Cal" in California, "MassHealth" in Massachusetts, and "TennCare" in Tennessee) is a joint federal-state program that provides health insurance coverage to low-income children, seniors, and people with disabilities.

Elderlaw 101

Trusts fall into two basic categories: testamentary and inter vivos.

Elderlaw 101

After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient's care.

Elderlaw 101

One of the greatest fears of older Americans is that they may end up in a nursing home. ...

Elderlaw 101

Medicaid has strict asset rules that compel many applicants to "spend down" their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering Medicaid eligibility.

Elderlaw 101

With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit.

Elderlaw 101