We Help Families Secure Needed Benefits In the United States, it is expected that 70% of people who are age 65 and older will eventually need some form of long-term care. The cost of long-term care is astronomical, and only continues to climb. Many Americans expect that existing government programs will cover all or part […]
Exploring the Many Issues Surrounding the Estate and Trust
If you live or work in the Trusts and Estates world, you have heard of Richard Blum, billionaire investment banker and late husband of Dianne Feinstein, the Senior United States Senator from California (“Dianne”).
The Magic of Grantor Trusts
An earlier blog examined “grantor trusts” and how they are an income tax issue, not an estate tax issue. Here’s a link to that prior blog, IRS Confirms Grantor Trust Status Alone Does Not Cause a Step-Up in Basis.
Attorneys can assist with the creation of special needs trusts
Sometimes, a person in Kansas City with special needs receives government benefits such as Medicaid benefits or Supplemental Security Income. However, did you know that if a person receiving benefits comes into an inheritance, his or her ability to continue receiving benefits could be affected? There are certain income and asset requirements that an individual […]
What is “Medicaid planning” in Kansas?
Most Kansas residents are likely familiar with the fact that the “Medicaid” program exists, even if just due to news reports mentioning it in the context of the Affordable Care Act over the last several years. Many, however, may be intimately familiar with the program as it helps cover care for them or their loved […]
Can a special needs trust help one obtain Medicaid?
When a person in Kansas City has a disability, they may have a very limited income, if they can work at all. When this is the case, they may rely on government benefits, such as Medicaid to pay for their medical expenses. Such benefits are often means-based. Means-based means that a person with too many […]
Medicaid planning may include a Medicaid spend-down
Many people in Kansas City may find that, as they age, they incur a significant amount of medical expenses. They may wonder how to cope financially with such costs. For some individuals, qualifying for Medicaid could be the financial lifeline they need to afford their medical care. However, Medicaid has income limits. If your income […]
Pending Registry In May Help Kansas Medicaid Recipients
A statewide registry in Kansas is being created that would provide Medicaid (KanCare) recipients in the state with website that would make it simpler for them to find personal care professionals. This may help many individuals who have not been able to find individuals that are capable of caring for the sometimes significant needs of […]
Cuts to Medicaid benefits criticized
Many people in Kansas City rely on Medicaid to afford their health care costs. However, some view the Medicaid program as troubled. Two Republican congressmen are proposing that Congress consider cutting optional Medicaid eligibility and benefit categories. This proposal would provide a means of reducing spending on Medicaid. Senator Orrin Hatch and Assemblyman Greg Walden […]
Medicaid planning: some states see uptick in insured residents
Kansas City residents who are considering Medicaid as part of their long-term care needs may be interested to hear that the decision of the United States Supreme Court that upheld most of the Affordable Care Act, also known as Obamacare, did not uphold the provision of the Act that would have made it mandatory for […]
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