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Krupp & Krupp, LLP Blog

Friday, August 23, 2019

Estate Planning For Children With Special Needs

Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is necessary to benefit the child with a disability, including an adult child, as well as assist any siblings who may be left with the caretaking responsibility.

Special Needs Trusts
The best and most comprehensive option to protect a loved one is to set up a special needs trust (also called a supplemental needs trust). These trusts allow beneficiaries to receive inheritances, gifts, lawsuit settlements, or other funds and yet not lose their eligibility for certain government programs, such as Medicaid and Supplemental Security Income (SSI).

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Tuesday, July 23, 2019


According to the U.S. Department of Health and Human Services, someone turning age 65 today will have a 70 percent chance of requiring some long-term care (LTC) service and support during the remainder of their life. In the case of women, the typical LTC need will last about 3.7 years compared to men who will need about 2.2 years of care. While approximately one-third of today's 65-year-olds may not ever need long-term care 20 percent of those who do will require it for more than five years. 

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Wednesday, June 19, 2019

How Much Does Long Term Care Insurance Cost?

According to the American Association for Long Term Care Insurance 2019 price index, a married couple who are both 55 years old would pay an average of $3,050 a year combined for a total of $386,500 each of long-term care insurance coverage when they reach age 85. But the percentage difference between the lowest-priced and highest-priced policies for such a couple is 243 percent, meaning that a consumer could wind up paying more than triple what they might have paid for similar coverage. 

The price differences between policies for single people were lower but still significant, according to the index.
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Saturday, June 15, 2019

Procrastination and Estate Planning

Procrastination and Estate Planning


Procrastination.  We’re all guilty of it.  Worse yet, procrastination tends to affect our big decisions.  When it comes to your estate plan, your first step is to contact an experienced estate planner.  At some point, when you are disabled or dead, it will be too late to plan ahead.
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Monday, January 7, 2019

Medicare's Hospice Benefit

Medicare's hospice benefit covers any necessary and reasonable care for easing the course of a terminal illness. This benefit is often overlooked and underused.

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Monday, January 7, 2019

Appealing a Hospital Discharge

The linked article, "Winning Against a Stacked Deck," provides a chilling and frustrating account of an elder law attorney's attempts to fight a Medicare/Hospital decision to discharge her mother.  Between the bureaucracies of the government and the hospital-industrial complex, the deck is stacked against patients.


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Tuesday, December 18, 2018

Can I Save My House from Long Term Care Costs?

For many people, their house is their most valuable asset.  Our new clients always ask, “How do I save my house from being lost to nursing home costs?” The answer in many situations is through the use of an asset protection trust designed for Medicaid purposes.

Assets placed into an asset protection trust are not required to be spent down to qualify for Medicaid benefits, nor are they subject to Medicaid estate recovery after death.  Once you are past the state’s five year look-back, there will be no penalty if you apply for Medicaid.

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Tuesday, December 11, 2018

Will your Power of Attorney for Property Work for You?

The power of attorney is a crucial estate planning document—it allows a third party to step in and make important financial decisions for you if you are no longer able to make those decisions for yourself. The person you appoint to do this is called the agent.  Having a comprehensive power of attorney can keep your family out of guardianship court when it comes to your financial affairs, and save thousands of dollars in legal fees and court costs.  This is a simple solution to an expensive problem - if you have the right durable power of attorney.

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