What Is a Life Estate?
The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in…
Judge Orders Medicare Agency to Comply with Settlement in “Improvement Standard” Case and Provide More Education
Matthew Shepard, Communications Director at the Center for Medicare Advocacy shares the latest information on the “Improvement Standard” case (Jimmo v. Burwell, No. 11-cv-17 (D.Vt.)). If you are a Medicare beneficiary, this case could help ensure that you…
Most Caregivers Are Now Entitled to Minimum Wage and Overtime Pay
The federal government recently extended minimum wage and overtime protections to most home health care workers. If you are hiring a caregiver for yourself or an elderly loved one, you need to become familiar with…
When Adult Children Get Sick, It May Be Hard For Parents To Get Information
Michelle Andrews at Kaiser Health News shares a case study highlighting the importance of having HIPAA forms and Powers of Attorney properly executed for you or other loved ones in the event of a medical emergency. When Sean…
House Democrats Introduce Bill to Raise Estate Tax Rate
New legislation has been introduced that would restore the estate tax and gift tax rates to 2009 levels. Michael Cohen, editor-in-chief of AccountingToday.com, explains the proposed changes in this article.
Changes in Social Security Claiming Strategies Arrive Next Month
Recent changes to the Social Security retirement program will eliminate two claiming strategies that can possibly increase your rate of return. These changes will take effect for people who have not used them before April 29th. If you have not yet applied for Social Security benefits and could benefit from one of these strategies, you should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group.
Court Approves Use of Short-Term Annuities for Medicaid Planning
A lesson learned in Pennsylvania declares immediate annuities must still meet a number of stringent requirements to be accepted as legitimate by Medicaid authorities. Families considering them should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group. This is an FYI for you to think about what long term care planning can put in place for you before you transfer assets to afford it. Call us today (630) 377-3241
Incentives to Keep Working While You Collect Social Security
In general, it is better to wait as long as possible before taking Social Security benefits, but sometimes it is necessary to start taking benefits early. However, if you are able to continue working while receiving benefits, you may be able to increase your overall benefit. For more information on how work affects Social Security call Strohschein Law Group. We help clients everyday plan for the future. (630) 377-3241
Woman’s Efforts to Change Will Without Professional Assistance Backfire
Just as making a will without the help of a qualified attorney can be dangerous, trying to change an existing will on your own can fail as well. A recent court decision in Minnesota serves as a cautionary reminder to anyone thinking of altering their estate plan on their own. Strohschein Law Group is here to protect what matters and just a phone call away to save you money and potential heart ache.
Incentive Trusts: Ensuring That an Inheritance Will Be Well Spent
Many parents or grandparents with sizable amounts of money to pass on to their heirs are apprehensive about the effect it may have on their children or grandchildren. In some instances, they fear that the recipients will misspend the funds on drugs, fancy cars or failing businesses. In other cases, the fear is simply that their children will lose their drive to achieve and overcome barriers that may present themselves if there’s no financial necessity to do so. But some parents set up what are known as “incentive trusts,” which get very specific in their instructions to trustees to ensure that the trust funds support what the trust’s creators view as positive behavior and discourage unproductive activities. Read more…