Home Health Aide Costs See the Sharpest Increase in Annual Long-Term Care Survey

Long-Term Care Planning Avon

Long-term care costs climbed again in 2021, with rates for home health aides and homemakers seeing the sharpest rises, according to Genworth’s annual Cost of Care Survey. The coronavirus pandemic continues to contribute to cost increases. In the past year, Read More …

Declining to Act as an Agent Under a Power of Attorney

How to Decline Power of Attorney

Acting as an agent under a power of attorney is a big responsibility and it isn’t something everyone can take on. It is possible to resign or refuse the position. There are two main types of powers of attorney – Read More …

Don’t Want an IRA Distribution? Donate It to Charity.

donate IRA distribution

Not everyone wants to take the required minimum distributions from their retirement accounts right away. If you don’t want your distribution, one option is to donate it to charity and get a tax deduction. You are required to begin taking Read More …

What Documents Are Required for a Medicaid Application?

Medicaid Paperwork in Ohio

Medicaid applicants must prove that they have limited income and assets in order to be eligible for long-term care services. Before beginning the application process, it is helpful to understand what information you will be required to provide to prove Read More …

Using Estate Planning to Prepare for Medicaid

Medicaid Strategies

Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations. Long-term care can be very Read More …

Saying Medicaid Estate Recovery Keeps Families in Poverty, Groups Call to Abolish It

Talking ABout Estate Planning to Parents

To qualify for Medicaid coverage of long-term care, you must satisfy very complicated financial eligibility rules—rules that often can be traps for the unwary. One of the most significant traps is Medicaid’s right to recover its expenses from your estate Read More …

IRS Issues Long-Term Care Premium Deductibility Limits for 2022

Long-Term Care Deductions

The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are almost the same as in 2021. Many types of Read More …

In 2022, Social Security Disability Recipients Will See the Biggest Increase in Four Decades

The year was 1983: The U.S. invaded Grenada. A gallon of gas cost 96 cents. Michael Jackson’s “Thriller” video premiered. That year was also the last time that recipients of Social Security disability benefits saw a cost-of-living increase steeper than the Read More …

Social Security Shortfalls Are Predicted to Begin a Year Earlier Due to the Pandemic

Social Security Planning Attorney Cleveland

The Social Security trustees are projecting that due to the economic downturn caused by the pandemic the Social Security trust fund will be depleted in 2033 — one year earlier than the previous estimates. Once the fund is depleted, Social Read More …

Better Than No Loaf: Medicaid Planning Using “Half a Loaf” Strategies

2021 Medicare Premiums

While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets. Three so-called “half a loaf” approaches allow a Medicaid Read More …

Nov. 4th – Lorain County Chamber of Commerce Business Expo

Lorain County Business Expo

Come meet Joseph L. Motta on Thursday, November 4th, 2021, at the Lorain County Chamber of Commerce Business Expo from 3:30pm-6:30pm. The aim of the EXPO is simple- to provide exhibitors and attendees an opportunity to network, collaborate, learn about Read More …

Medicare Open Enrollment: Review Your Choices

Coronavirus Estate Planning Attorney

Every year Medicare gives beneficiaries a window of opportunity to shop around and determine if their current Medicare plan is still the best one for them. During Medicare’s Open Enrollment Period, which runs from October 15 to December 7, beneficiaries Read More …

Expanded Protections for Non-Borrowing Spouse of Reverse Mortgage Holders

Reverse Mortgage Estate Planning Attorney

This is our first post about reverse mortgages. If you have questions about how a reverse mortgage could fit into your estate planning, please contact us for a free consultation. New Protections for the Non-Borrowing Spouse of Reverse Mortgage The Read More …