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How Can a Crowdfunding Account Affect a Person on Medicaid and SSI?

How Can a Crowdfunding Account Affect a Person on Medicaid and SSI? by Marissa Kleiner

Over the past couple of years, when on social media, I have seen more and more crowdfunding and personal fundraising efforts. Crowdfunding sites such as GoFundMe and Kickstarter cut out the middleman of fundraising, allowing the person or organization in need to appeal directly to the general public.

In many cases, crowdfunding takes place when a family member or friend has a medical emergency and needs help with paying the bills. Unfortunately, many do not take into account other contributing factors or benefits some people may already be receiving. For example, if a crowdfunding site is established for a person with special needs who is receiving disability or medical benefits, negative repercussions can be seen.

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Benefits of the IRA Trust aka “Retirement Trust”

Russo Law Group, P.C. is pleased to share this article on behalf of guest author Michael Gilfix. 

Benefits of the IRA Trust aka “Retirement Trust”The IRA Trust is the preferred method to give the beneficiaries of your retirement account protections that are otherwise not available to them.

Why use the IRA trust? Rather than simply naming beneficiaries for your IRA accounts, we strongly recommend that we instead prepare one or more IRA trusts to protect your beneficiaries, who are perhaps your children and grandchildren.  There are four good reasons why this makes sense.

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Obama Administration Announcement: Overhaul of Current Nursing Home Standards

Obama Administration Announcement: Overhaul of Nursing Home StandardsMany nursing home facilities in the United States receive funding from Medicaid and/or Medicare. Those facilities which do receive federal funds are regulated by federal law. These laws are the basis for all nursing home residents’ quality of care, rights, quality of life, etc.  Additional protections can be put in place by individual states, however, states cannot diminish the protections mandated by federal law.

The Nursing Home Reform Law, the primary federal law for nursing homes, passed in 1987 has never been substantially re-written, only modified. In September, 2016, the Centers for Medicare and Medicaid Services (CMS) issued the first major overhaul of federal nursing home regulations in 25 years. The new regulations will be implemented in three stages: Phase 1 on November 28, 2016, Phase 2 on November 28, 2017 and Phase 3 on November 28, 2019.

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The Trump Policy Analysis Group (TPAG) – Focusing on Older Americans and those with Special Needs

The Trump Policy Analysis Group (TPAG) [1]  has convened to consider probable changes in law that will affect older Americans and those with special needs. Initial TPAG focus is on entitlements, public benefits, tax, special needs planning, and veterans’ benefits. We…

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Can I Get Paid to Care for Mom & Dad?

Can I Get Paid to Care for Mom & Dad?Many years ago, there were certain restrictions for home care. It used to be that, in a home care setting, if somebody wanted to hire help outside of an agency to care for mom and dad, that hired person could not be a family member.

Caregivers often ask, “I stopped working because I need to take care of my mom; can I get paid for this?” The answer, traditionally, has been, “No.”

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What Will Happen to My Business if I Die? Part 2

Succession Plan - What Will Happen to My Business if I Die? Part 2In our last article, we discussed the ramifications of not having a succession plan in place for a business. In this article, we will discuss the role of a fiduciary of an estate, and how an individual in that role can ensure the business continues to operate if the owner passes away.

In order to continue running the business of a deceased person, someone must be appointed as the fiduciary. This is all dependent on whether there is an estate plan in place, namely if the owner has a Last Will and Testament that must be probated with the local Surrogate’s Court.

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What Will Happen to My Business if I Die? Part 1

What Will Happen to My Business if I Die? Part 1 - Business Succession Planning - VJ Russo LawWhen someone owns a business and they pass away, the business does not just stop automatically—even if they are the top partner or sole proprietor. There are still employees who need to be paid, products that need to be sold, orders that need to be fulfilled, and vendors and other obligations that must be paid as well.

There is always a lot of turbulence when someone passes away, but if they own a business, it is almost exponentially disruptive and difficult. It is very important for someone who owns a business to think about business succession planning and estate planning for themselves. This is not only for their immediate family, but for their employees and the people they do business with on a regular basis. Otherwise, it can be incredibly time-consuming, expensive, and difficult for actions to be taken properly to continue the business.

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What is the Difference Between Revocable and Irrevocable Trusts?

What is the Difference Between Revocable and Irrevocable Trusts?A trust is established by people looking to maintain control of their assets while avoiding the probate process, which is the process by which a family takes the decedent’s will to court. As part of probate, the court reviews the estate and then gives authority to distribute the decedent’s assets.

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