New Rules Make It More Difficult to Get a Reverse Mortgage
The new rules are an effort to strengthen the federal Home Equity Conversion Mortgage (HECM) program, which insures almost all reverse mortgages and which has seen default rates rise.
Elder Law Question of the Day
As we age, care needs change. The team at Strohschein Law Group is here to educate, navigate, and advocate individuals on health care needs and changes. It’s important to make good health care decisions, but often we don’t know where to start, especially when those changes happen suddenly.
Probate v. Non-Probate: What Is the Difference?
The probate process includes filing a will and appointing an executor or administrator, collecting assets, paying bills, filing taxes, distributing property to heirs, and filing a final account. This can be a costly and time-consuming process, which is why some people try to avoid probate by having only non-probate assets.
9 (Potential) Problems with Your Trust
It’s a useful exercise to make sure that you understand what is in your trust. Other issues, particularly those related to tax issues, will require consulting with Linda Strohschein. We are hosting a free lunch and learn about the different types of trusts and how to best reach your estate planning goals this Thursday, January 23rd. RSVP today!
Key 2014 Dollar Limits for Medicaid Long-Term Care Coverage Released
The Centers for Medicare & Medicaid Services (CMS) has released the 2014 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep and the limit on how much a home can be worth for its owner to still qualify for Medicaid.
Should You Sign a Nursing Home Admission Agreement?
Admitting a loved one to a nursing home can be very stressful. In addition to dealing with a sick family member and managing all the details involved with the move, you must decide whether to sign all the papers the nursing home is giving you. Nursing home admission agreements can be complicated and confusing, so what do you do?
How Do Divorce and Remarriage Affect Social Security Benefits?
It is common knowledge that husbands and wives are entitled to collect Social Security benefits on their spouses’ work records. Less well known is that this benefit applies to divorced spouses as long as the spouse has not remarried. Divorced spouses are even entitled to survivor benefits in certain circumstances.
A Day in the Life of an Elder Care Coordinator
So on a given day, I may be asked to speak with a family member and schedule a time to visit a client in their home to help determine needs and more effectively offer resource information. I then communicate with the legal team to coordinate next steps, ensuring that the best plan for that particular individual is executed, with essential legal documents in place.
Long-Term Care.. Know Your Options
Strohschein Law Group strives to counsel their clients to manage their independence as long as possible. Meeting with Linda Strohschein to discuss options and design a plan that best suits your needs or the needs of a loved one will give everyone involved the peace of mind to enjoy life to its potential.
Obamacare Should Be of No Concern to Medicare Beneficiaries, Although Scammers May Tell You Otherwise
In point of fact, people age 65 and over who are on Medicare don’t need to do anything to continue getting their government benefits. Medicare coverage satisfies the new insurance requirement and a new “health care card” is not required. (And those under age 65 who already have health coverage don’t need to do anything, either.) Moreover, Medicare, like the IRS, will never contact beneficiaries about any personal issues by phone or e-mail, but rather through regular mail.