Law Office of William C. Beyers

ElderLaw News	June 2007
This Month's Articles: · Private Medicare Plans Accused of Using Shady Marketing Tactics · Consider Putting Gifts to Grandchildren in a Trust · Receiving an Inheritance While on Medicaid · GAO Study Finds Transfers by Elderly Are Infrequent and Small Private Medicare Plans Accused of Using Shady Marketing Tactics Some insurance companies have been using improper tactics to sign up seniors for private Medicare plans, according to government officials and advocacy groups. The tactics include going door-to-door, forging signatures, and giving false information. more... Consider Putting Gifts to Grandchildren in a Trust Gifting assets to your grandchildren isn't just a nice thing to do; it can reduce the size of your estate and the tax that will be due upon your death. Grandparents can give their grandchildren up to $12,000 a year (in 2007) without having to report the gifts, and putting the money into a trust has some major advantages. more... 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. Medicaid has strict income and resource limits, so an inheritance can make a Medicaid recipient ineligible for Medicaid. Careful planning is necessary to make sure the inheritance doesn't have a negative impact. more... GAO Study Finds Transfers by Elderly Are Infrequent and Small A new Government Accountability Office (GAO) study concludes that few of the elderly are transferring assets in order to become financially eligible for Medicaid coverage of long-term care, and that of the transfers that are made, the amounts are modest. more...	ElderLaw News is a monthly e-newsletter that brings you reports of legal developments and other trends of vital interest to seniors and their advocates. This newsletter is brought to you by Law Office of William C. Beyers Find out more... Quick Links... Assessing the Risk of Dementia Plan your Funeral Paperless World Can Leave Heirs in the Dark Keeping Tabs on Older Parents Join Our Mailing List

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