Medicaid provides coverage for an individual’s long-term care costs, including institutional care in a facility. In order to qualify for Medicaid, an individual must be poor. Medicaid has stringent rules relating to financial eligibility, including the five year look-back rule. …
Author: markelderlaw
Changes for the Gift Tax and Estate Tax in 2024
Prior to 2024, the maximum amount that a person could gift without filing a gift tax return was $17,000 per person. If an individual transferred gifts worth more than $17,000 to one person in a year, then the person who…
Maximum Monthly Maintenance Needs Allowance for 2024
If a spouse requires long-term care and is receiving Medicaid assistance, then a portion of that institutionalized spouse’s income can be paid to the healthier spouse as support. According to Medicaid the amount of the support provided to the healthier…
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National Elder Law Month 2024
May is National Elder Law Month. This was designated by the National Academy of Elder Law Attorneys, also known as NAELA. Elder law services are not just for the elderly. Elder law attorneys help individuals and their families plan for…
Medicare Part B Premium for 2024
Medicare has two primary “parts”. Part A is often referred to as the “hospital” insurance. Part B is often referred to as the “physician’s” portion of Medicare. Part B of Medicare covers services provided by physicians and other health care…
Law Office of Donald B. Mark 