Medicaid rules require the applicant, or the applicant’s agent, to self-report the existence of all assets. Knowingly failing to report assets is a crime. Occasionally over the years, we have found financial assets that a client claimed didn’t exist. Clues would appear in a known bank account’s record of credits and debits. Skilled cross-examination would […]
Adult children are often a parent’s named power of attorney (the “agent”). Some actually serve in this role. The reason is that their parents have reached the point where they can no longer manage their own financial affairs. Sometimes the agent has to hire the expertise needed to deal with certain issues that arise. Examples […]
Hello from The Delaware Elder Law Center! Our next series will be Elder Law: Facts & Fiction, where we specifically define and delve-in-to the Elder Law issues that families need to understand to better care for their loved ones. We hear a lot of misinformation and confusion surrounding Elder Law. Clarifying these details will greatly […]
We see situations where the Power of Attorney, the “Agent” in charge of a disabled loved one’s financial affairs, will decide to make gifts of assets to themselves or other family members; sell the house at a steep discount to their child; or comingle the disabled person’s assets with their own so that some percentages […]
Estate planning is a process that takes place while one is alive and able. It addresses the issues of protecting a person’s quality of life and assets during times of disability. It includes a plan for the transfer of assets at death that carries out a person’s intent regarding who gets what, when, and how. […]
The word on the street is that Long-Term Care Medicaid is a government benefit for the poor. • “People who have worked their entire life and saved money for retirement cannot qualify for Medicaid.” • “A person must spend all of their savings before applying for Medicaid.” These are harmful myths. The truth is that […]
Fifteen years ago, when I started my Elder Law practice, I attended a marketing function at a local nursing home. I was talking with a social worker and sipping coffee. Out of the corner of my eye, I saw a woman approaching us who I learned later was our host for the meeting and director […]
A big misconception is that the five-year look-back period is somehow a barrier to qualifying for Long-Term Medicaid. We hear clients say, “I can’t qualify for Medicaid because they will look back five years and see that I have assets.” Another version is that “I have made gifts to family and the Medicaid penalty period […]
Hey, it’s Wade Scott with The Delaware Elder Law Center. Our next series is titled Wade’s Words, where I will discuss certain legal concepts and terms related to Long-Term Care Medicaid and Estate Planning that come up regularly. Stay tuned! https://delawareelderlawcenter.com/wp-content/uploads/2024/03/intro-wades-world.mp4
I know that so many people ask the questions, “What happens to my estate when I die?” and “Do I even have one?” Well, the simple answer is that everyone has an estate when they die regardless of wealth. An estate is anything tangible and intangible that you have an ownership interest in. It begins […]
The Long-Term Care Medicaid application process details the financial history of the applicant. There are limitations on assets and income. Applicants who enter the application process with excess assets are required to show by substantial evidence how they achieved financial qualification. By definition, the client’s duty of full disclosure and honesty in fact are implicit […]
Many seniors fear that “they” will take their house and savings if they lose their independence with activities of daily living. When asked who “they” are, the senior points to Medicaid and the nursing home. There is a sense that something unjust will take place. Hence the question, “can they/will they take my house?” This […]