PROTECTING AND PASSING ON MY VACATION HOME
WHY IS A VACATION HOME SO SPECIAL AND WHAT ISSUES NEED TO BE CONSIDERED? A vacation home can serve as a magnet to bring the family together. Children marry and move away and have their own children. A vacation home is an excuse for them to come back to visit with their parents and to…
POMS CLARIFICATIONS
The Social Security Administration has made a number of clarifications to the POMS effective in 2010. These include the following: 1. COVERDELL EDUCATION SAVINGS ACCOUNT (ESA) 1.1. Designated Beneficiary The designated beneficiary is the individual who is to receive the benefit of the funds in the account. The designated beneficiary can be changed to a…
MEDICARE SET-ASIDE ARRANGEMENTS IN THIRD PARTY LIABILITY CASES
The Legal Authority for Requiring a Medicare Set-Aside Arrangement Medicare Secondary Payer Act.[1] The authority for the Centers for Medicare and Medicaid Services (CMS) to require consideration of a plaintiff’s future medical expenses is found in the Medicare Secondary Payer Act (MSPA). Under the MSPA Medicare is generally precluded from paying the beneficiary’s medical…
PLANNING FOR LONG-TERM CARE
WHAT SHOULD YOU KNOW ABOUT LONG-TERM CARE? Long-term care is an area of growing concern to older Americans and their families. Approximately 70% of individuals age 65 or older eventually require some form of long-term care. Whether that consists of home healthcare, assisted living or nursing home care, the costs can be substantial. Without adequate…