Can My Mom Take Out a Home Equity Loan on a House in Her Name Without Affecting My Dad’s Medicaid Benefits?

My dad is in a nursing home and qualified for Medicaid nearly three years ago. My mom still lives in their home in Pennsylvania. The deed was transferred into her name alone during Medicaid’s “spend down” period. She was planning to take out a home equity loan, but she has been told it might jeopardize my dad’s Medicaid eligibility. Is this true?

Latest John Oliver Rant Details Failings of Our Long-Term Care System

In a profanity-laced episode of his HBO show that is by turns hilarious and deeply disturbing, comedian John Oliver delivers one of his trademark rants, this one exposing the “abuse and neglect” that he contends are all-too-prevalent in our system of long-term care. 

How an Irrevocable Life Insurance Trust Can Be Used to Avoid the Estate Tax

With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding estate taxes. 

Why an Irrevocable Trust May Be Superior to Gifting

Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets.  Although setting up an irrevocable trust lacks the simplicity of giving a gift, it may be a better way to preserve assets for the future. 

Senators Propose Sweeping Changes to the Taxation of Estates and Inherited Gains

Vermont senator Bernie Sanders has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy.  

Biden Administration Eases Recommended Restrictions on Nursing Home Visits

The Centers for Medicare and Medicaid Services has issued new guidance on whether families can visit loved ones in nursing homes. The guidance allows indoor visitation even when the resident has not been vaccinated. 

How the $1.9 Trillion COVID-19 Relief Bill Aids Seniors

President Biden has signed the latest COVID-19 relief bill, which in addition to authorizing stimulus checks, funding vaccine distribution, and extending unemployment benefits, also provides assistance to seniors in a number of ways.