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Sep 27, 2023 | 
elderlawanswers.com | Natasha Meruelo
What Is Medicare Part D?
Adults who are age 65 and older can enroll in Medicare, a federal health insurance program. If you have signed up for Medicare Part A, Part B, or both, you can also sign up for Part D. Available through private insurers, Medicare Part D remains optional and covers certain categories of prescription medications. When choosing a Part D plan, review the specific drugs that each plan covers. You may already rely on a particular prescription medication or medications.
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Sep 18, 2023 | 
leagle.com | Natasha Meruelo |Thomas Frost |White Plains |Cecelia G..
MEMORANDUM DECISION DENYING MOTION TO MODIFY AND GRANTING MOTION TO DISMISS
Pending before the Court is Debtors motion to modify his plan and a motion to dismiss for cause. The standing chapter 13 Trustee (the "Trustee") asserts that Debtors conduct during the pendency of the case, specifically the... NEVER MISS A DECISION. START YOUR SUBSCRIPTION.
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Aug 28, 2023 | 
elderlawanswers.com | Natasha Meruelo
As of 2020, approximately people have both Medicare and Medicaid coverage. Medicare is a federal health insurance program for people over 65 and certain disabled individuals. Medicaid is a joint federal and state program that helps provide medical care for those with limited income and resources. Medicaid recipients include children, pregnant women, and individuals who are blind or have disabilities.
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Aug 7, 2023 | 
elderlawanswers.com | Natasha Meruelo
According to AARP, people aged 60 and older owe upwards of $290 billion in student loan debt. Thankfully, many federal student loan borrowers have experienced payment reprieves for the past few years due to multiple payment pauses enacted during the pandemic by the CARES Act and other loan relief efforts. These pauses on making payments for federal student loans are ending in August 2023, however.
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Jul 24, 2023 | 
elderlawanswers.com | Natasha Meruelo
Given the new 10-year rule and tax implications, many people have been rethinking their estate plans. They are considering options that will help minimize taxes paid by their loved ones. One such option is converting retirement accounts to Roth IRAs.
What Is a Roth IRA and Why Might Converting Be an Attractive Option?
Roth IRAs are retirement accounts funded with post-tax funds. In other words, you have already paid taxes on the funds in the account prior to depositing them.
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Jul 19, 2023 | 
elderlawanswers.com | Natasha Meruelo
The No Surprises Act is a federal law enacted to protect patients from unexpected medical bills incurred on or after January 1, 2022. It aims to address the issue of surprise medical billing, which can occur when patients receive unexpected charges for their medical care. The Act applies to out-of-network emergency services, out-of-network air ambulance services, and certain out-of-network care received at in-network facilities.
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Jul 17, 2023 | 
elderlawanswers.com | Natasha Meruelo
It is possible to mitigate this potential scenario in several ways. One of them is making large gifts before December 31, 2025, while the gift tax exclusion amount in effect is at record highs. The IRS has stated that this practice won’t harm estates after 2025. Specifically, IRS regulations have a special rule that allows an estate to take an estate tax credit using the greater of the exclusion applicable to gifts made during life, or the exclusion in effect on the date of death.
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Jul 13, 2023 | 
elderlawanswers.com | Natasha Meruelo
Medicaid work requirements have not been around for long. The Trump administration, which signed off on 13 such programs in different states, was the first to implement them. However, a federal judge struck down work requirements in several programs in 2019, and the current administration revoked 10 additional programs. In 2022, the Biden administration also attempted to prevent Georgia from imposing certain requirements as part of its Medicaid program.
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Jul 12, 2023 | 
elderlawanswers.com | Natasha Meruelo
Although in many situations the advantages outweigh the disadvantages when selecting beneficiaries, there are always exceptions.
What Is a Beneficiary?
Beneficiaries are individuals who you select to receive money, various other assets, or specific bequests (such as sentimental items) upon your death. You can name these individuals in estate planning documents such as a will.
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Jul 6, 2023 | 
elderlawanswers.com | Natasha Meruelo
Additionally, in some states, this type of life estate deed can create issues if the grantor wishes to qualify for Medicaid, specifically with restrictions against transfers of property within a specified look back period. A person’s rights are still restricted while the Lady Bird Deed is in effect even though they have “enhanced” rights over a regular life estate. Property decisions can still be influenced by the deeded beneficiary, who still has an interest in the property.
