by Dedra Jize, OT, CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law A trip or stumble can easily become a fall to the ground for an older adult, which can have devastating consequences physically, emotionally, and financially. Fall statistics have improved over the years for older adults aged 65+, but they are still unacceptable as one-fourth of older adults will fall each year. The unsettling fact is that a senior falls every 11 seconds resulting in a trip … [Read more...] about Take a Step Toward Preventing Falls (An Elder Law Today Blog)
Does an Inheritance Count for Medi-Cal? (An Elder Law Today Blog)
Timing is everything. How often have you heard someone express that sentiment? And while it’s often true of life in general, it’s certainly true in Medi-Cal planning. So, does an inheritance count as an asset for Medi-Cal purposes? For a single person, the answer is clearly, “Yes.” If a single individual is spending down his or her assets, and before the spend-down is completed, that individual receives an inheritance, then those assets are added into whatever that person has and must be … [Read more...] about Does an Inheritance Count for Medi-Cal? (An Elder Law Today Blog)
Hospital Discharge: Making the Transition to Home or a Skilled Nursing Facility
by: Guest Blogger Renee Seligman, Patient Advocate When caring for a senior who is going to be discharged from the hospital, it is important to address the following: Medication Reconciliation: Often the attending physician at the hospital will make changes to a patient’s medication list. It is important to reconcile the list prior to discharge with the hospital’s Discharge Coordinator or Nurse Case Manager to ensure accuracy. All prescriptions that need filling must be sent to the … [Read more...] about Hospital Discharge: Making the Transition to Home or a Skilled Nursing Facility
Latest Genworth Survey Released Regarding Long-Term Care Costs (An Elder Law Today Blog)
Members of the elder law community are becoming increasingly concerned about the high and rising cost of long-term care. People are living longer than ever before, with the oldest among us being the fastest growing age group. Most people who reach senior citizen status will indeed need long-term care at some point in their lives; therefore, this is something that is relevant to all of us. It is important to understand that Medicare does not cover long-term care costs. With this in mind, … [Read more...] about Latest Genworth Survey Released Regarding Long-Term Care Costs (An Elder Law Today Blog)
Limits to Medi-Cal Recovery (An Elder Law Today Blog)
By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law The future of Medi-Cal eligibility has been the subject of speculation for a little over a decade now. Will the California implementation of the federal Medi-Cal system, known as Medi-Cal, finally implement federal laws enacted back in 2005? And now, with a Republican president-elect and a Congress with a Republican majority in both houses, it appears Medi-Cal funding may be an additional topic for … [Read more...] about Limits to Medi-Cal Recovery (An Elder Law Today Blog)
Special Needs Trusts: Two Words to Say Fairness
By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Special Needs Trusts (also called Supplemental Needs Trusts) are specific types of trusts that allow a disabled person to be the beneficiary of a trust while not interrupting his/her eligibility to receive government assistance. Without a Special Needs Trust, persons with disabilities risk losing government benefits if they receive an inheritance, a personal injury award, or receive other funds. In … [Read more...] about Special Needs Trusts: Two Words to Say Fairness
Exclusion of Gains from Sale of Personal Residence
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law I spoke with a client, William, the other day who shared that he purchased his home many years ago for fifty thousand dollars ($50,000). That same home is now worth an estimated one and a half million dollars ($1,500,000). If the home was sold today, the capital gains taxes would be calculated on the difference between the sale price ($1,500,000) and the basis in the property ($50,000), for a taxable gain … [Read more...] about Exclusion of Gains from Sale of Personal Residence
Advantages of the Clayton Trust
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Prior to 2014, for married clients with estates valued at over one million dollar ($1,000,000), our office often recommended ABC Trusts. This trust structure was used to preserve the Deceased Spouse’s estate tax exemption. For much of that time, there was a one million dollar ($1,000,000) estate tax exemption. Utilizing the ABC Trust structure allowed you to double that, to be able to pass two … [Read more...] about Advantages of the Clayton Trust
Litherland Law Office 2017 Government Policy Forecast
By: Matthew M. Shafae, AttorneyLitherland, Kennedy & Associates, APC, Attorneys at Law Elections have consequences. On January 3, 2017, the 115th United States Congress met for the first time, with both houses controlled by the Republican Party. On January 20, 2017, our Republican president-elect will be sworn in as President of the United States. For the first time in a decade, two branches of our federal government will be controlled by one political party. And this president will also … [Read more...] about Litherland Law Office 2017 Government Policy Forecast
Advanced Medi-Cal Triggers – Spousal Election
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law While at an estate planning conference in November, one of the speakers discussed a planning strategy that may benefit many married couples. The planning strategy involves adding Advanced Medi-Cal Triggers to a married couple’s estate plan, specifically a Spousal Election to the Living Trust and testamentary special needs trust language within the Pour-Over-Will. For a married couple, upon the first … [Read more...] about Advanced Medi-Cal Triggers – Spousal Election
