Long-Term Care Insurance
Long-term care insurance can be helpful to clients who are healthy enough and affluent enough to afford it. As elder and disability law attorneys, we must all be aware that Medicaid and other public assistance programs may not continue to exist in the future as we know them today. In fact, the Deficit Reduction Act…
Reverse Mortgages – Are They Good For Your Clients?
Reverse mortgages are increasing in popularity. These instruments can be a very useful tool for some people if properly used, but can actually be harmful in certain situations. What is a Reverse Mortgage? A reverse mortgage is a device where the borrower taps into the equity of their home and borrows money without the need…
Transfer of Assets to Disabled Children
The current federal Medicaid statute has been in effect since 1989.[1] Generally, the statute provides that if an individual makes an uncompensated transfer of resources, the value of those resources are divided by the average monthly cost of a nursing home and the resulting quotient is the number of months during which the applicant will…
Total Return Trusts: Why Didn’t We
1. INTRODUCTION The total return trust is an idea whose time has come. With the arrival of the Prudent Investor Rule and the development of the modern portfolio theory, Trustees now have great flexibility to invest aggressively and to improve the total return for both income beneficiaries and remaindermen. 2. TRADITIONAL TRUSTS Traditional trusts were…
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