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Elder Law and Special Needs News

December 2021

Why It Still Makes Sense to Pay Inherited IRAs to a Trust Even After the Passage of the SECURE Act.

Using a properly drafted trust, IRAs can be protected from a beneficiary’s creditors. This article addresses why it still makes sense to utilize a trust even though the SECURE Act is law.

Medicare Premiums to Increase Dramatically in 2022
Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month.

What's In The News
What It Means to Need ‘Nursing Home Level of Care’ for Medicaid Eligibility
When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home.
IRS Issues Long-Term Care Premium Deductibility Limits for 2022, and They Look Pretty Familiar
The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are almost the same as in 2021.
What Are a Special Needs Trustee’s Record-Keeping Duties?

If you are considering serving as trustee of a special needs trust, know what is expected of you before taking on this crucial role.

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