November 2018

Elder Law Alert: Department of Veterans Affairs Makes Sweeping Changes to VA Pension and Aid & Attendance Benefit

By Dionysios Pappas, Vasiliadis Pappas Associates LLC Introduction VA Pension benefits are “nonservice connected” disability benefits that provide a monthly tax-free income to eligible wartime veterans and their surviving spouses. A married veteran can receive up to $2,169/month, a single veteran up to $1,830, and a surviving spouse up to $1,176. Pension benefits are particularly

Six Things to Consider Before Making Gifts to Grandchildren

Grandparents often are particularly generous to grandchildren as they see their family’s legacy continuing on to a new generation. In many cases, grandparents feel they have ample resources and their children or grandchildren may be struggling financially. Assistance with summer camp fees, college tuition, wedding costs or the downpayment on a first home, can relieve

Always Put Caregiver Contracts in Writing

When hiring a caregiver, it is important to put the contract in writing. Courts can be especially strict about requiring contracts when caregivers are relatives, but a formal agreement is still necessary even if the caregiver is not a relative.  A recent Michigan court ruling illustrates how failing to document an agreement with a non-relative caregiver

Questions to Ask Before Buying Long-Term Care Insurance

When long-term care insurance first became available, there were few customers. The product was full of holes, untested, and overpriced. Not surprisingly people took a wait-and-see attitude, mainly because it took a while for most people to even become familiar with the need for this type of protection. Fortunately, insurers have responded with significant product

Hybrid Policies Allow You to Have Your Long-Term Care Insurance Cake and Eat It, Too

As long-term care insurance premiums rise and fewer companies offer policies, alternatives to traditional long-term care insurance policies are springing up.  Previously, we wrote about annuity “doublers” that help pay for long-term care. Another increasingly popular hybrid product combines life insurance with long-term care coverage and offers buyers solutions to a number of problems that have kept people from