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Archives

Monthly Archive for: "November, 2020"
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By John Belconis
In Elder Law News
Posted November 30, 2020

Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing

As we enter the giving season, there is an additional reason to be charitable this year. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations [...]

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By John Belconis
In Elder Law News
Posted November 19, 2020

Ability to Withdraw Money Early from Retirement Plan Without Penalty Ends at the End of the Year

If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption [...]

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By John Belconis
In Elder Law News
Posted November 17, 2020

Watch Out for These Potential Problems with Life Estates

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a [...]

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By John Belconis
In Elder Law News
Posted November 12, 2020

What to Look for When Choosing a Medicare Advantage Plan

As Medicare premiums rise, a Medicare Advantage plan can seem like an attractive option. But if you are considering switching from Original Medicare to a Medicare Advantage plan, you need to [...]

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By John Belconis
In Elder Law News
Posted November 11, 2020

Medicare Premiums to Increase Slightly in 2021

Medicare premiums are set to rise a modest amount, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.

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By John Belconis
In Elder Law News
Posted November 5, 2020

Receiving an Inheritance While on Medicaid

For most people, receiving an inheritance is something good, but for a nursing home resident on Medicaid, an inheritance may not be such welcome news

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By John Belconis
In Elder Law News
Posted November 5, 2020

Utah Hospitals May Implement Age-Based Care Rationing as Covid Cases Surge

As the coronavirus pandemic worsens in Utah, the state is expected to implement a health care rationing system that favors younger patients over older ones.  Similar policies in several other [...]

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