Beyond Generous, Creating a Trust for Gifts to Your Grandchildren is Financially Smart
The financial stability to leave our grandchildren an inheritance is something we all aspire to be able to do. We want our loved ones to have something to remember us by and leaving a sum of money is a common choice. Setting up a trust is often overlooked in the planning process. There are tax […]
The Medicaid “Look-Back” Period and the Impact it has in Regards to Your Eligibility Determination
The terms Medicare and Medicaid are sometimes used interchangeably when, in fact, they are very different programs. Medicaid is a means-based program designed for those who have very few assets. As such, penalties are in place to avoid people from taking advantage of the system. Transfers of all amounts and reasons are heavily scrutinized by […]
What Giving Away Money or Property Can Do to Your Medicaid Eligibility
Any and all transfers of money or property, no matter how big or small, are at risk of coming under scrutiny during the Medicaid look-back period of five years. Whether it is a charitable donation or holiday gift, the rules still apply however there are some instances that are exempt. Read on to find out […]
