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Tag Archives: Medicaid
2012 Treasury Report on Social Security & Medicare
I. Introduction. Treasury’s 2012 Report to Congress on the financial health of Social Security and Medicare emphasized that Americans are living longer and that the number of retirees is growing. This is placing pressure on Social Security, which is projected … Continue reading
Elder Law Planning: Deciphering the Puzzle
View in PDF: Tax News & Comment — February 2013 Elder Law Planning: Deciphering the Puzzle I. Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading
Posted in Asset Protection, Trusts
Tagged Elder Law, EPTL 7-1.12, estate attorney, Medicaid, Medicaid Eligibility, Medicaid Exempt Assets, Medicaid Surtax, Medicaid Trusts, Medicare, Medicare Part A, Medicare Part B, Medicare Part C, Medicare Part D, Medigap, National Health Care, Recovery from Estate, Social Security, Special Needs Trusts, tax attorney, tax lawyer, Third Party Special Needs Trusts
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Elder Law Planning: Deciphering the Puzzle
View in PDF: Tax News & Comment — February 2013 Elder Law Planning: Deciphering the Puzzle I. Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading
Posted in Elder Law
Tagged Elder Law, EPTL 7-1.12, estate attorney, Medicaid, Medicaid Eligibility, Medicaid Exempt Assets, Medicaid Surtax, Medicaid Trusts, Medicare, Medicare Part A, Medicare Part B, Medicare Part C, Medicare Part D, Medigap, National Health Care, Recovery from Estate, Social Security, Special Needs Trusts, tax attorney, tax lawyer, Third Party Special Needs Trusts
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Supplemental Needs Trusts
Elderly and disabled persons are peculiarly prone to significant and continuing costs for long-term care. Since many governmental benefits are need-based, ownership of substantial assets may preclude qualification under these programs.
A Special Needs Trust (SNT) established for a person with severe and chronic disabilities may enable a parent or family member to supplement Medicare or Supplemental Security Income (SSI), without adversely affecting eligibility under these programs, both of which impose restrictions on the amount of “income” or “resources” which the beneficiary may possess. 42 U.S.C. § 1382a. Continue reading
Posted in Elder Law, Supplemental Needs Trusts, Trusts
Tagged EPTL § 7-1.12, Medicaid, Medicare, SSI, supplemental needs trusts
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Law Offices of David L. Silverman 
2012 Taxpayer Relief Act & Tax Outlook for 2013
View in PDF: Tax News & Comment — February 2013 2012 Taxpayer Relief Act & Tax Outlook for 2013 I. Overview of Act On January 2, President Obama signed the American Taxpayer Relief Act of 2012 (the Act) into law, … Continue reading →