Ohio Appeals Court Determines That Resources in Trust Are Countable
An Ohio appeals court rules that assets held in an irrevocable trust are available to a Medicaid applicant because the trustee has the discretion …
Protecting Your House After You Move Into a Nursing Home
While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible …
Genworth: LTC Costs Continue To Rise
The average annual price of a private U.S. nursing home room has increased to $76,460 this year, up 2% from the 2007 average. Researchers …
Senate Chooses Middle Road on Estate Taxes
Members of the Senate indicated that they want to reduce estate taxes without eliminating estate taxes. Senators delivered that message through votes on a …
Gross Valuation Misstatement Penalties Can Apply to Estate and Gift Appraisals
In a recent legal memorandum, the IRS stated that it can assess, under IRC Sec. 6695A, a gross valuation misstatement penalty against an appraiser …
New Tax Break Helps Surviving Spouses
Widows and widowers who don’t want to sell their house right away will get a tax break under a new law. The law gives …