Main Phone
847-367-4460
In this era of financial insecurity and economic
crisis, it is our belief that safeguarding your assets from
unnecessary loss has become an urgent priority for you and your family.
On February 8, 2006, President Bush signed into law the Deficit
Reduction Act of 2005 (DRA 2005), which included the most sweeping
changes to Medicaid laws ever enacted.
Some of the more significant changes that may impact you, should long
term care become necessary are:
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Change in the “look-back period” for transfers of property (now 5 years!);
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Change in the penalty period for even inadvertent transfers of property;
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New restrictions placed on the use of annuities, trusts and promissory notes.
Quick Links:
House Passes Bill Stopping Medicare Premium Hikes
Planning for the Long Term
How Retirees Can Spend Enough, but Not Too Much
State-by-State Caregiver Resource Guide
How to Talk Money with Mom and Dad
Most Believe in Patients' Right to Die but Few Have Living Wills
We would like to personally invite you to join us for an informative workshop designed to help increase your understanding of the new Medicaid laws and to discuss some of the planning options that are still available, even in light of these sweeping changes.
Please refer to our Workshop Schedule here.
Howard Lang, J.D. and Maggie Kopke, J.D., will explain these changes and what they mean to you and your family. We hope you can join us for one.
Frequently Asked Questions about
Nursing Homes & Long Term Care
More Quick Links (past articles):
2009 Long-Term Care Insurance Prices Rise Slightly, Range Widely
Don't Leave Children Unequal Shares By Mistake
Should You Join the Roth Conversion Parade?
New Web Site Lets Patients Rate Their Doctors
IRS Alerts Public to New Identity Theft Scams
Premium May Rise for Medicare Part D Beneficiaries Who Receive Low-Income Subsidy
700 Florsheim Drive, Suite 11
Libertyville, IL 60048
Phone (847)367-4460
FAX (847)367-0090
©2007 Estate & Business Law Group, P.C.