Monthly Archives: February 2018

Legal-Ease: Nursing homes and assets other than real estate

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Being eligible for Medicaid is often a key component to a person’s long-term care plan if the individual wants to protect assets from being used for long-term care. The two primary requirements to be eligible for Medicaid, which we touched upon in this blog post, are as follows: The applicant must have a financial net worth of less than $2,000, and the applicant must not have given anything away in the previous five years to be at that financial level. 

For assets that could incur capital gains taxes when sold, giving the asset away before it’s time to consider needing long-term care can miss a chance to avoid capital gains taxes. 

Legal-Ease: FFA and Congressional charters

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FFA, formerly known as Future Farmers of America, is a student agricultural organization. This is National FFA Week, and FFA is a required part of formal agriculture education programs in schools. 

FFA is one of only a few Congressionally chartered agricultural organizations in the country. Congressional Charters of nonprofit organizations recognize that the organizations are legitimate and add value to American life. 

Legal-Ease: Nursing homes and life estates

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Among the requirements needed to be eligible for Medicaid, an individual’s financial net worth must be less than $2,000. That individual must not have given away property to become that poor within five years before the application. 

Medicaid eligibility means that the government will pay for a person’s long-term care, which includes nursing home care as well as in-home care. 

Long-term care and asset protection plans that are undertaken early almost always help the individual later. 

Legal-Ease: Kids’ medical ID form not legally necessary but advisable

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While it’s not legally necessary, many attorneys complete a basic information form for clients to let medical professionals know in emergency situations how to treat children. The document can inform doctors about unique medical conditions as well as any information they may need to know in an emergency situation. 

Usually, these documents include each child’s full name and date of birth, parents’ and guardians’ names and contact information and other important information a medical professional would need to know about a child in case of an emergency.