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Asset Protection
- "Do I Qualify For Financial Assistance For Nursing Home Care?"
- Free Asset Protection Seminar For Anyone Considering Long Term Care Planning
- Medicaid Compromise in Health Care Bill On the Chopping Block
- Medicaid and Caregiving: Who Are the Ones Taking the Lead?
- Avoid Pitfalls of Medicaid
News
- How To Avoid Wasteful Spending On Health Care...
Posted on 4/29/2010 - Health Care Debate: Long Term Insurance Overhaul...
Posted on 1/5/2010 - Survey uncovers surprising long-term care myths and facts...
Posted on 10/29/2009 - Healthcare reform may offer another option for long-term care planning...
Posted on 10/25/2009 - Will Pennyslvania lawmakers divert Medicaid stimulus money?...
Posted on 7/29/2009
Library
Asset Protection
- 10 Reasons to Consider Long-Term Care Insurance
- Solve Eligibility Problems Using the Personal Care Contract
- What Can Seniors and Their Families To Legally Protect Themselves In These Dire Times?
- Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
- Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
Asset Protection
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ShieldsandBoris Blog
Are you protected from the high costs of nursing home and long term care?
You have worked hard all your life and saved for a comfortable retirement. You plan to pass on a nice legacy to your children and grandchildren. Then the unthinkable happens -- you learn that you have a debilitating disease or injury that prevents you from working and over time you will require long term nursing care. How will your family manage without your income? How will you pay for expensive medical care that may last months or even years?
The Attorney’s at Shields & Boris are here to help you through these troubled times. Our team will provide you with strategies to legally protect your assets from long term care expenses and qualify for Medicaid.
Do you have to go broke before you can qualify for Medicaid?
The annual cost of long term care can exhaust a person’s lifetime savings in a matter of months . Fortunately, you don’t have to go broke before you qualify for Medicaid benefits. Even if you or a loved one are already in a nursing home it is possible to arrange your assets to protect them from medical costs and qualify for Medicaid assistance. The attorneys at Shields & Boris have over 20 years experience securing asset protection for their clients in Western Pennsylvania.
Current estimates place the average monthly cost for nursing home care in Allegheny County Pennsylvania at over $7,000. These ever increasing costs can easily exceed the annual expense of a college education. With the help of the attorneys at Shields & Boris, you will be able to structure your assets in a way that will protect them for your loved ones and still qualify for Medicaid. We will work closely with you to develop a strategy that will suit your family’s needs. Contact us and we can help you make sense of it all!
Where can I find an experienced Elder Law Attorney?
Attorney, Jim Shields has dedicated his career to being a friend and guide to families as they seek legal advise in difficult times. Both Jim Shields and Tom Boris are members of the National Academy of Elder Law Attorneys focusing their legal expertise on the unique issues facing the elder population in Pennsylvania. At Shields & Boris we have been recognized by the American Association for Retired Persons and are part of the AARP Legal Services Network.
We are lawyers and also educators working to help seniors and their families from throughout the Pittsburgh and Western Pennsylvania area. Over the past ten years, seniors have benefited from the many elder law and estate planning seminars and presentations made by Jim Shields and his team.
The Shields & Boris elder law attorneys are known for the personal attention we give to our clients! We will listen to your goals and provide you a plan to meet your desired outcomes. Our attorneys are experienced in the variety of options available to you for asset protection from long term care expenses:
- Transfer of assets
- Living trusts
- Spending down
- Irrevocable Asset Protection and Control Trusts
- Gifting
- Converting non-exempt assets into exempt assets
- Purchasing annuities
- Long Term care insurance
We will help you and your loved ones determine the right combination of options to develop a comprehensive long term care plan for your estate. You don’t have to give up your life’s treasure before you can access Medicaid support. Call us for a free consultation and to discuss your family’s situation, 1-800-879-0984.
Can you help me plan for the future?
Anticipating what your needs will be years into the future can seem an overwhelming task. What will happen with the continuing rise in the cost of health care? How does the Deficit Reduction Act of 2005 (DRA) impact my estate plans and what if there are more changes in the years to come? Living in Pennsylvania, do I need to do something different from my other family members who live out of state? How will my spouse be taken care of if I am ill for a long period of time?
We know that these and other questions trouble many of our clients. We know there are many issues for each family to consider when working in the area of elder law and estate planning. Fortunately, our lawyers at Shields & Boris face these issues every day. We are constantly learning about new changes to local, state and federal laws and how these apply to our clients’ estates. We are prepared to guide you through this difficult time and will show you the most beneficial strategies to maximize your family’s assets.
Always working to serve you better, the team of Shields & Boris continues to develop resources to assist our clients in elder law issues. Our team is knowledgeable of the ever-changing laws that impact the senior population in Pennsylvania.
Put your fears to rest and contact the Law Offices of Shields & Boris for answers to your questions regarding elder law and Medicaid asset protection.
We care about you and your family’s legacy!
If you have any questions or would like a free consultation call us toll free at 1 800 879 0984 or send us a message through our website by clicking here and we'll be certain to respond.
Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 200
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
Get Directions
Blog for Asset Protection
- "Do I Qualify For Financial Assistance For Nursing Home Care?"
- Free Asset Protection Seminar For Anyone Considering Long Term Care Planning
- Medicaid Compromise in Health Care Bill On the Chopping Block
- Medicaid and Caregiving: Who Are the Ones Taking the Lead?
- Avoid Pitfalls of Medicaid
- How To Describe Pain in a Social Security Disability Case
- How much does long-term care really cost?
- Paying for long-term care
- Unmarried couples and estate planning issues
- Why a durable financial power of attorney makes sense
- Will proposed changes to medical estate recovery laws swallow what is left of your estate?
Library for Asset Protection:
- 10 Reasons to Consider Long-Term Care Insurance
Description: We believe there are many benefits to Long-Term Care Insurance, and here are 10 reasons why one would consider Long-Term Care Insurance. Of course, as with all legal, financial planning, its vital to speak with an experienced expert you can trust to take care of your best interests. Call us today at (800) 879-0984 - Solve Eligibility Problems Using the Personal Care Contract
Description: For an asset to be considered transferred for fair market value, the transferor must receive something in return. A transfer for love and consideration, for example, is not considered a transfer for fair market value. Like most planning options, the personal service contract is not without risk. Many case workers do not recognize a personal service contract as a transfer for fair consideration and could initially deny benefits. You may be required to request a fair hearing. - What Can Seniors and Their Families To Legally Protect Themselves In These Dire Times?
Description: It feels like the sky is falling. Every week a client is coming telling us of a job loss or home loss. Medicaid has cut back on funding. The local senior service agencies have three to six month waiting lists for home health care services. The Visiting Nurses are telling us that Medicare has changed how it pays for home care after a hospital stay as well. It looks like quite a few people will be losing services. So what can you do to legally protect yourself in these dire economic times? - Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
Description: The Internal Revenue Service recently announced that the 2010 gift tax annual exclusion will remain unchanged at $13,000. The annual amount of the exclusion is based upon the Consumer Price Index, and the exclusion has increased gradually from $10,000 in 1997 to $13,000 in both 2009 and 2010.
As such, so long as your gifts to an individual are less than $13,000 in 2010, there is no gift tax return required to be filed and no gift taxes are due. A married couple can gift $26,000 to each individual, as each spouse receives an exclusion without creating a gift tax liability. - Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
Description: The Internal Revenue Service recently announced that the 2010 gift tax annual exclusion will remain unchanged at $13,000. The annual amount of the exclusion is based upon the Consumer Price Index, and the exclusion has increased gradually from $10,000 in 1997 to $13,000 in both 2009 and 2010.
As such, so long as your gifts to an individual are less than $13,000 in 2010, there is no gift tax return required to be filed and no gift taxes are due. A married couple can gift $26,000 to each individual, as each spouse receives an exclusion without creating a gift tax liability. - Choosing whether a Roth IRA is best for you takes a discussion with a qualified financial advisor. Contact us at (800) 879-0984 to find out your best options for estate planning
Description: Now that 2010 has arrived, people whose incomes were previously too high to permit them to rollover a traditional IRA to a Roth IRA are calling their investment houses about making conversions. That's because for the first time, even if your annual income exceeds $100,000, you can convert a traditional IRA -- or a SEP IRA, Simple IRA or 401(k) or 403(b) plan held with a former employer -- to a Roth IRA. - This section of the site is designed to provide you with information about your Medicare eligibility and enrollment.
Description: This section of the site is designed to provide you with information about your Medicare eligibility and enrollment. You will be asked to answer a series of questions. The number of questions, as well as the questions themselves will be dynamic based on your answers. Once we have collected enough information, we will display detailed information tailored to your specific situation. Please note that Social Security will make the final decision on your eligibility and enrollment status. - A look at the specific flaws in the leverage as an asset protection mechanism theory. Contact us at 1 800 879 0984 for more information, or a FREE consultation.
Description: A look at the specific flaws in the leverage as an asset protection mechanism theory. Contact us at 1 800 879 0984 for more information, or a FREE consultation. When it comes to making the right legal and financial decisions pertaining to long-term care, you want the best Elder Law attorneys on your side! Shields and Boris Law Office provides experienced professionals who concentrate SOLELY on Elder Law - issues such as Medicaid, Asset Protection, Veterans Benefits, Special Needs, Wills, Trusts, Estate Taxes, Probate, CALL US and see how you can protect the money you've worked your entire life for. - Long-Term Care Insurance Health Qualifications - Are You Even Insurable?
Description: Most people have some health issues … maybe a bit of hypertension for which you take medication … maybe you even had cancer some years ago. Even people with health conditions may still qualify for long-term care insurance but it really pays to talk to a long-term care insurance professional with access to multiple insurers. - Regardless of the amount, any gift that is made is a transfer and is subject to a look-back period of five-years for Medicaid purposes. Call us today for a FREE consultation and find out the best legal and financial plans for your money.
Description: Regardless of the amount, any gift that is made is a transfer and is subject to a look-back period of five-years for Medicaid purposes. Call us today for a FREE consultation and find out the best legal and financial plans for your money. - Seniors Are Worried About the Possibility of Medicare Advantage Cuts
Description: The government-subsidized benefits that seniors on Advantage plans receive — often at premiums lower than Medicare premiums — are real, and are legitimately in danger in some cases if Democrats succeed in their health care overhaul. - When it comes to making the right legal and financial decisions pertaining to long-term care, you want the best Elder Law attorney on your side! Shields and Boris Law Office provides experienced professionals who concentrate SOLELY on Elder Law - issues such as Medicaid, Medicare, Asset Protection, Veterans Benefits, Special Needs, Wills, Trusts, Estate Taxes, Probate, and how you can protect the money you've worked your entire life for so that it goes to loved ones, instead of the government, or nursing home. Call us today for a FREE consultation!
Description: Six years after Congress added a prescription drug benefit to Medicare, Democrats in the House and Senate are poised to make a central change that they and most older Americans have wanted all along: getting rid of a quirk that forces millions of elderly patients with especially high expenses for medicine to pay for much of it on their own. - New Medicaid Laws - Is Long Term Care Insurance the Answer?
Is Long-Term Insurance best for you? Call us today to find out the best possible way to legally and financially prepare for long-term care planning.
Description: Is Long-Term Insurance best for you? Call us today to find out the best possible way to legally and financially prepare for long-term care planning. Because of the changes in Medicaid laws, we now recommend to clients to at least look into long-term care insurance. It's still not on the top the list as to the number one planning strategy, but it is an option based upon the new law changes that have taken place. - Asset Protection - What is the difference between Medicare and Medicaid?
Description: But what happens if one does not or will not improve? What if someone has a degenerative disease such as Alzheimer's, MS, Parkinson's, dementia, etc? Chances are if you have one of these diseases, at some point in time you will need skilled long-term care. Medicare WILL NOT pay for this care. On average, you will also live 8 to 12 years after diagnosis.
If you have any questions or would like a free consultation call us toll free at 1 800 879 0984. www.shieldsandboris.com Asset Protection, Estate Planning, Medicaid, Medicare - What is Medicaid and Why Should I Care?
Description: The goal is - qualify for Medicaid as soon as possible by protecting your assets! Don't wait, plan now, so you won't be caught in a situation where you have to spend down your money in order to qualify. With the help of our planning, we can help you to avoid making disastrous decisions pertaining to paying for long term care. - Are you prepared for the high costs of long-term care?
Description: Planning ahead for your own long-term care needs is a great gift you can give to your family. There are a variety of ways that you can pay for long-term care, all with various pros and cons. The lawyers at Shields and Boris have experience helping Pennsylvania residents with Medicaid asset protection planning and veterans benefits claims. - What should you know about the PA Inheritance Tax?
Description: The Pennsylvania Inheritance Tax affects your estate planning and without a proper plan, you could be penalizing your beneficiaries by 15 percent. Your assets can be protected by consulting with an expert in Estate Planning at Shields and Boris Law Firm. Shields and Boris Elder Law attorneys are on top of all the latest details regarding updates in laws and taxes. - The importance of a durable financial power of attorney
Description: What would happen if you became incapacitated unexpectedly? Would your spouse or another trusted friend or family member be able to take care of important financial matters for you? Or, would they have to go to court and ask for permission? To ensure that your finances don’t suffer if you aren’t able to make decisions for yourself, consider a durable financial power of attorney. - Estate Planning and Sole Property Ownership
Description: Buying property can be a challenging experience for many people, but it is important to inform yourself about the titling options available to you before you sign on the dotted line. Some forms of property ownership can be very beneficial to certain types of individuals, but a poor titling choice can negatively impact your estate planning efforts down the road. This article provides an overview of the sole property ownership type of title. - Estate Planning and Joint Tenancy with Right of Survivorship
Description: The decision how to title your property can be confusing, as there are a number of titling options available. Many people select the most common forms of ownership like tenancy by the entirety or tenancy in common, however there are different options that can be considered. One option that can be beneficial for some property owners is joint tenancy with rights of survivorship. To learn more about estate planning and asset protection please contact the elder and estate law attorneys of Shields and Boris toll-free at 1-888-444-4093.
Frequent Questions for Asset Protection:
- What Is Long Term Care?
- What are examples of services that can be included in a "Personal Care Contract"?
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What are the most commonly used approaches to managing and protecting assets through legal and financial asset protection?
How is Estate Planning Affected by Incompetency?- If my loved one is on Medicaid, won't they get substandard care?
- I have two children. Can they be co-agents on my durable power of attorney?
- Can my ailing husband just transfer all of his assets to me so he’ll be eligible for Medicaid?
- The caseworker/nursing home intake person / friend / neighbor / beautician / other advisor has told me that the Medicaid rules are much different than what you are saying?
- Why haven’t I heard about this planning before?
- Is it illegal to do Medicaid and asset protection planning?
Web Resources for Asset Protection:
Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 102
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
Get Directions
