There is a federal estate tax that applies to those estates that are worth a significant amount. The exemption from the federal estate tax has increased continuously since 2002. Prior to 2002, the exemption from the federal estate tax was…
Tag: federal law
Law Increases Maximum Support for a Spouse
Medicaid normally requires that a person’s income be used to offset the cost of long-term care in a facility. Virtually all of that person’s income must be paid to the facility each month. Medicaid then pays the balance of that…
Married Couples Can Now Protect More Assets
The cost of long-term care is catastrophic. If a husband or wife needs long-term care then the family’s assets are quickly depleted on the cost of that care. Once the assets have been spent down then the family can acquire…
Increase in Medicare Co-Payment for Skilled Nursing Care
Medicare is not long-term care insurance. Medicare does not pay for long-term care, other than a portion of the skilled care that an individual may require after a stay in a hospital. According to the Medicare statute, if a person…
Read More Increase in Medicare Co-Payment for Skilled Nursing Care
Long-Term Care Insurance Partnership
If a person obtains a long-term care insurance policy that satisfies federal law, then assets can be protected from Medicaid and the cost of long-term care. Congress passed a law approximately 15 years ago that provides an incentive to acquire…
