Elderlawanswers.com reports that the median cost of a private nursing home room in the United States has increased to $97,455.00 a year, up 5.5% from 2016, according to Genworth 2017 cost of care survey, which can be found at www.genworth.com/aboutus/industry-expertise/cost/of-care.html which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $85,775.00, up 4.44% from 2016. The rising prices is much larger than the 1.24% and 2.27% gains, respectively in 2016. Continue reading
In 2016, a couple of events occurred in my life that had significant impacts on me and my family. On July 4th, while I was relaxing at my mother-in-law’s home and taking a nap under a tree, a limb fell out of the tree and hit me on the head. But for the chair in which I was sitting having a cover which broke the fall, I am quite certain the limb would have taken my life. Continue reading
IRAs are one the trickiest assets for estate planning attorneys to handle for many reasons. First, they often are overlooked in the estate planning process because they cannot be transferred during lifetime. This asset, like some other assets, are controlled by beneficiary designation. While the client might remember a large IRA, they often forget smaller IRAs. As a result, beneficiary designations often are left unchanged even when circumstances have changed, making those designations no longer appropriate. Continue reading
Christmas Pops 2017 tickets will be available Saturday, November 18th, 2017 at 10:00 AM at the Old Crockett Theater. Maximum (4) tickets per person, first come first serve. Get them while you can!!!!
When an individual applies for Medicaid assistance in a nursing home, one of the first questions that is asked of them has to do with whether a transfer has been made of any asset for less than fair market values within five years (60 months) of the date of the application. If such a transfer has been made, a “penalty period” will result depending on the value of the gift. The larger the gift, the longer the penalty period. Continue reading