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Recent reports from Pro Publica, the independent investigative news organization, reveal widespread violations of HIPAA (t... more »

Why aren't the presidential candidates talking about the long-term care crisis?

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Bank accounts, photos, even Solitaire: Fiduciaries may faceuphill battle accessing your online information

We consistently remind clients that their estate plans must include arrangements to enable the person(s) of their choice t... more »

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Aid & Attendance lookback under consideration

6-10-2012 - The General Accounting Office has released a report suggesting that the Veterans Administration adopt an asset "look-back" period to determine eligibility for Aid and Attendance benefits. Aid and Attendance benefits provide elderly and disabled veterans financial assistance to cover the cost of long-term nursing home care, home care or assisted living.

Under current law, a veteran may have no more than $80,000 in allowable assets to qualify for Aid and Attendance. However, transfers of assets that occur before the application date are not examined or penalized. This is in contrast to the Florida Medicaid system, which currently imposes a  five-year look-back period on asset transfers.

No changes have been instituted as yet. U.S. Senators Richard Burr (R - N.C.) and Ron Wyden (D- OR) have indicated that they will introduce legislation in Congress  that gives the Veterans Administration look-back authority.  At this point, it is too early to know how such legislation would impact on clients' estate plans.

Click here for the current eligibility requirements for V.A. Aid and Attendance benefits. 

 

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