January, 2017 | The Beliveau Law Group

Can we protect my mother’s assets from Medicaid by having a family members live in her house and act as caretaker?

ADDITIONAL INFORMATION: I heard from a neighbor but can’t confirm that Medicaid’s five year “look back” for assets that can be applied to nursing home expenses is cut back to two years if a family member lives in the house and acts as caretaker. If so, do they have to be living there for two years before the reduced look back takes effect? Or does it take effect right away? Thanks! ATTORNEY ANSWER BY MARGARET L.

Can bartering be an effective business strategy?

Have you ever thought about bartering as a way to get the goods and services you need for your business? A growing number of businesses are finding ways to use the bartering system as a means to avoid using up their company’s cash. A simple bartering arrangement involves two parties trading items of similar value. For example, let’s say your business owns a building located next to a telephone company. An internet service provider might be

Making the most of your tax refund

If you are expecting a tax refund, you might consider investing your refund or using it to increase your financial security. While everyone’s needs are different, here are some optional uses of your refund that may work for you.

Time to plan for inflation-adjusted 2017 tax numbers

Each year, certain tax figures are adjusted for inflation. While most figures are unchanged versus 2016, there is more than a 7% increase to the maximum earnings subject to social security tax. Take note of these numbers to use in your 2017 planning.

Mark your calendar: Tax deadlines

February 28 Payers must file information returns (except certain Forms 1099-MISC with non-employee compensation payments in box 7, which are due before February 1) with the IRS. (Except for certain Forms 1099-MISC outlined earlier, the deadline is March 31 if filing electronically.) Forms 1095-B and 1095-C due to the IRS, if filing on paper. March 1 Farmers and fishermen who did not make 2016 estimated tax payments must file 2016 tax returns and pay taxes in

How do i sell mothers home,without power of attorney?

ADDITIONAL INFORMATION: Mother is in nursing home, money is running out soon. I am her daughter, but I don’t have durable power of attorney.What do I need to do,legally to sell her home, so that I can continue to pay her nursing home bill/utilities/property taxes/and medications? ATTORNEY ANSWER BY MARGARET L. CROSS: Under Medicaid, her home is a non-countable assets. Instead of trying to sell the house, you should consult with an elder law attorney about

Can you charge a fee if you are the administrator or executor in an informal probate?

ADDITIONAL INFORMATION: What would that fee be? ATTORNEY ANSWER BY MARGARET L. CROSS: As Personal Representative, you may charge reasonable fees to the estate. You may charge differently for different tasks. For example, cleaning out the basement would be charged out at a lesser amount than the preparation of the tax return for the estate or the decedent. You will need to keep records on how long you spent on each task. Your fee will be

How do open a checking account if the Insurance Policy checks are made out to the Estate of?

ADDITIONAL INFORMATION: My Fiancé passed away over a year ago. I was Power of Attorney and 100 percent beneficiary of his Trust. He got too sick to transfer everything under the trust. Now I have a pour over will naming me Personal Representative. Giving me full power with no bond. The banks will not accept the will. They are telling me they need a letter stating I have legal rights to the money. I don’t know

MassHealth estate recovery and probate litigation

ADDITIONAL INFORMATION: How much time does Masshealth have to make such a claim? Is there a time limit? Also, it is my understanding that they can only take whatever the decedent owned at the time of death. I assume then, any insurance proceedings and lawsuits proceedings post death are not available to Masshealth right? ATTORNEY ANSWER BY MARGARET L. CROSS: The normal creditor period in Massachusetts is a year from the date of death. However, MassHealth’s

My grandmother would like to change her power of attorney. How can she do so?

ADDITIONAL INFORMATION: My grandmother currently has a family friend designated as her POA. She would now like me to be her POA. How can we make this change? ATTORNEY ANSWER BY MARGARET L. CROSS: All she has to do is execute a new power of attorney and notify the old agent that the old power of attorney was revoked. This is easily done through an attorney. The attorney will need to meet with your grandmother alone

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Beliveau Law Group

January 2017