New Rules for VA Pension

On October 18, 2018, the Department of Veterans Affairs implemented substantial changes to their Pension Program (often called “Aid & Attendance”) which helps to offset the cost of personal care assistance for veterans and their surviving spouses. The VA Pension Program is a cash benefit program. To qualify, the veteran must have served at least 90 days active duty with at least one day during a period of war, and not have been dishonorably discharged.

Powers of Attorney

Powers of Attorney are the most underrated legal documents. It seems to be common knowledge that “everyone needs a Will” but many people don’t know that Powers of Attorney are even more important for the majority of people.  Without a Will your estate will usually be divided among your decedents under Colorado law…just like the vast majority of all Wills say. While a Will only takes effect after death, Powers of Attorney cover you while

You May Not Be Able to Plan in Advance Later On

  I was working with an Adult Protective Services representative just a few days ago, and she said something very profound. We were attempting to help a family whose mother was showing signs of either rapidly advancing dementia or some other medical issue. They had no powers of attorney in place; they had no authority to step in. She needed help, but they were stuck between not having any power of attorney documents and not

Nursing Home Planning. How do you achieve peace in the midst of uncertainty?

Are you worried about the impact of a Nursing Home stay on you or a spouse? You are not alone! The majority of older adults worry about this possibility. Consider the following: • How will I pay for Nursing Home Care?  Medicare coverage is available in many cases but is limited in payment duration.  Long Term Care insurance can do wonders in protecting our assets and may even increase your chances of gaining

Why Not Add Your Child to Your Bank Accounts?

Clients frequently tell me they want to add a child as a joint owner on their accounts and assets for “convenience”. There are numerous reasons why this should not be done, and why it is probably the most inconvenient thing that you can do. The biggest reasons people want to do it are to avoid inheritance tax, and the money will transfer automatically to the child, and not get frozen, upon the parent’s death. Although

The Medicaid 5-Year Look Back Period Explained

There is nothing in Medicaid Law that causes more confusion than the 5-Year Look Back Period. Many people mistakenly believe that you can’t do any planning within 5 years of needing care. This isn’t exactly true. Here’s how the Look Back Period Works: If you go into a nursing home and want to apply for Medicaid benefits to pay the bill, you must be below the low asset thresholds. Many families try to transfer assets