Medicaid Compliant Annuities as a Medicaid Qualification Tool the Subject of Podcast Episode 43
A common problem that many of our clients come to us with is how to qualify for Medicaid benefits if they have too many assets. One tool that our team uses is called a Medicaid Compliant Annuity. This is a financial product, much like other types of financial products such as life insurance, long-term care insurance, or an IRA, but it isn't something you can generally get at your neighborhood financial institution. Not every financial company sells these products, and the rules governing them can be quite complicated. Medicaid Compliant Annuities also aren't for everyone, as each individual or family's unique situation and goals largly dictate if and when we use it in a client's planning. In the Second Half of Life Podcast episode 43, long-term care planners Kristin Daugherty and Tammy Zilske talk about using Medicaid Compliant Annuities.
All episodes of the Second Half of Life Podcast can be found on the Steinbacher, Goodall & Yurchak website, as well as on most podcast directories, which includes Apple Podcasts, Spotify, TuneIn + Alexa, iHeartRadio, Stitcher, Podcast Addict, Google Podcasts, Podchaser, Deezer, Listen Notes, Bullhorn, Overcast, Pocket Casts, Castro, Castbox, Podfriend, Player FM, Podcast Index and Pandora.
Steinbacher, Goodall & Yurchak Garners PA Business Central Top 100 Organization Honor for Third Consecutive Year
Steinbacher, Goodall & Yurchak, an elder law firm with locations in Williamsport and State College, has once again been named a Top 100 Organization by Pennsylvania Business Central in its 2021 compilation of Top 100 organizations. This annual list by the business publication recognizes leading organizations in their chosen fields, "bringing new ideas, technology and services to their counties and spheres of influence." Nominees from PA Business Central's 23-county readership are submitted and the Top 100 are selected by an editorial committee due to their positive impacts in the business community of Central Pennsylvania.
This is the third consecutive year that Steinbacher, Goodall & Yurchak has been listed on the Top 100 Organizations list. It has also been included on this list several other times in the past, including in 2017. This honor follows Attorney Julie Steinbacher and Attorney Amos Goodall being named to the 2021 list of Top 100 People by PA Business Central. Julie garnered that award for the fourth time, while Amos was on the list for the third straight year. This continues a string of honors for both the firm and several individuals over the last couple of years. This list of recognition includes being named to U.S. News & World Report's "Best Law Firms" in Pennsylvania in 2018, and being awarded the Business Partnership of the Year by the PA Future Business Leaders of America in 2020, Julie being named a Fellow of the American College of Trust and Estate Counsel earlier this year and to PA Business Central's Women Making a Difference list last fall, Amos garnering a Lifetime Achievement Award last year from the Legal Intelligencer, Attorney Brittany Smith becoming the firm's third attorney to earn the Certified Elder Law Attorney (CELA®) designation last fall, five of our attorneys being named 2020 Super Lawyers and Rising Stars last year, and several more.
Can Adult Children be Liable for their Parents' Nursing Home Bills? Podcast Episode 42 Explains
One question we get from clients, potential clients, and their adult children from time to time is "can adult children be held liable for their parents' nursing home bills?" In short, the answer is yes, but there's a lot of things that have to happen before the adult child gets sent a bill or is the subject of legal action, and practically speaking, as long as no one goes AWOL, there's no reason this needs to happen. But, that doesn't mean that having enough money to pay for nursing home or other long-term care costs isn't an issue for many families. In order to avoid this worse-case scenario of potential legal action to force payment of a nursing home bill, there needs to be adequate planning done in advance. That is where our law firm comes in. In the Second Half of Life Podcast episode 42, which runs just over eight minutes, our long-term care planners Kristin Daugherty and Tammy Zilske explain more about the Pennsylvania law that allows adult children to be held liable for their parents' nursing home costs, the relatively rare situations in which this may happen and how to avoid it in the first place.
All episodes of the Second Half of Life Podcast can be found on the Steinbacher, Goodall & Yurchak website, as well as on most podcast directories, which includes Apple Podcasts, Spotify, TuneIn + Alexa, iHeartRadio, Stitcher, Podcast Addict, Google Podcasts, Podchaser, Deezer, Listen Notes, Bullhorn, Overcast, Pocket Casts, Castro, Castbox, Podfriend, Player FM, Podcast Index and Pandora.
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