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Krause Financial Services Press releases

61 - 70 of 121 Press Releases

Mar 21, 2012
The Facts. Marshall, a Korean War veteran, is 88 years of age and lives in Georgia. After years of struggling with Parkinson's disease and losing his wife in late 2008 Marshall realizes he can no longer live independently.

Mar 19, 2012
When a client takes money out of an IRA before reaching age 59 and a half he or she is liable not only for income taxes on the distribution, but also for a 10% penalty - which is based on the withdrawn amount.

Mar 08, 2012
Generally speaking, after the Deficit Reduction Act of 2005, if a community spouse uses a Medicaid Compliant Annuity, or promissory note, to eliminate the spend-down amount an institutionalized spouse is immediately eligible for Medicaid benefits.

Feb 21, 2012
The entire cost of maintenance in a nursing home or home for the aged, including meals and lodging, is a medical expense if an individual is there because of a physical condition and the availability of care is a principal reason...

Feb 07, 2012
An Asset Protection Trust ("APT") is an Intentionally Defective Grantor Trust. An Intentionally Defective Grantor Trust is a trust that treats the assets in the trust differently for income tax purposes than for estate tax and gift tax purposes.

Feb 01, 2012
A recent court case, Hutcherson v. Arizona Health Care Cost Containment System Administration ("AHCCCS"), brought a ruling down regarding the State's recovery rights as a beneficiary of a Medicaid Compliant Annuity. Within the decision:

Jan 26, 2012
Trusts come in many different forms and are used for many different purposes. Generally, trusts are either revocable or irrevocable, grantor or non-grantor, inter vivos or testamentary, and simple or complex.

Jan 18, 2012
Many elder law practitioners that utilize Medicaid Compliant Annuities in their planning are familiar with J.G. Wentworth proclaiming their ability to purchase any annuity - regardless of the provisions.

Jan 18, 2012
As previously mentioned in a prior blog post I made, the first cost-of-living adjustment since 2008 has recently been made. This adjustment brought a 3.7% increase to many of the planning figures used in an elder law practice every day.

Dec 14, 2011
"If a single person buys a Medicaid Compliant Annuity to provide income during a disqualification period, and the state Medicaid agency is designated as the primary beneficiary, what if the individual predeceases the annuity?"


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