Can I Make Gifts If I Am an Agent Under a Power of Attorney?
I am an agent under my mom's power of attorney. Do I have the power to gift money in her place?
Read moreTypically, people appoint family members and friends to serve as their agents under health care proxies or health care powers of attorney and the people appointed do not charge for their services. This is also true of agents for financial and legal matters under durable powers of attorney. However, sometimes clients appoint professionals, such as attorneys and accountants, to serve under durable powers of attorney, in which case they do charge for their time. Such professionals are usually reluctant to take on duties as personal and potentially time consuming as serving as health care agent, so there isn’t a tradition of paying for these services. The result is that it’s really between you and your neighbor. You might agree on an hourly rate or even something that seems less like employment, such as offering to make a donation to your neighbor’s favorite charity or house of worship.
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READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
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READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
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READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
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READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
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