Krause Financial Services

The annuity planning that Krause Financial Services provides in VA scenarios is not to be confused with the planning provided by many self-dubbed "VA Planning Specialists" that have recently created quite the reputation.

Veteran secures an Aid & Attendance benefit as a result of having long-term care costs, the monthly A&A benefit is dictated by a simple formula - the extent that the claimant's monthly income exceeds the claimant's unreimbursed monthly expenses.

The majority of elder law attorneys are very familiar with the Deficit Reduction Act of 2005; however, I have found that much confusion still surrounds the requirements.

When a client qualifies for VA and/or Medicaid benefits, an annuity typically becomes part of the planning strategy. So what is an annuity?

Balloon-style immediate annuities are becoming more and more popular in VA planning.

In many states, an IRA owned by the community spouse is a countable resource for Medicaid purposes.

The Internal Revenue Code ("IRC") mandates that an IRA owner must begin taking required minimum distributions ("RMD") at age 70½..

For any annuity contract issued after April 22, 1987, it must terminate upon the death of any owner and benefits will then be paid to the designated beneficiary.

According to recent statistics, the majority of long-term care provided in the family home is provided by the children of the homeowner.

In March of 2010 the National Association of State Medicaid Directors ("NASMD") wrote a letter to the Center for Medicaid and State Operations ("CMS") regarding the inappropriate use of short-term Medicaid Compliant Annuities