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Maryland Power of Attorney Upon review of the new financial power of attorney statutory language for both the short and long form, there are many good aspects with the new provisions. There are enforcement provisions in this new law. Before, a bank could refuse to honor your power of attorney and there would be virtually…
Maryland Power of Attorney The Maryland General Assembly just passed and the governor signed into law sweeping new changes regarding Maryland financial powers of attorney (Maryland Uniform Power of Attorney Act – Loretta’s Law). There are a whole host of changes including new execution requirements, new statutory language, enforcement provisions, financial agent disclosure and non-disclosure…
Adult contested guardianship can occur when a parent losses the ability to make decisions for her health and/or her financial well-being. Is There a Need for a Guardian? Having a properly executed financial power of attorney and advance directive can certainly avoid the need for guardianship in many instances. But, what happens if the financial…
The use of Pooled Trusts just became more viable as a method by which to protect assets from nursing home expenses.
Home Value Issues Medicaid rules involving a primary residence are complex with some rules involving initial eligibility with others relating to Medicaid lien provisions. In many cases, the primary residence is an exempt asset not counted as part of the $2,500 (applicant) and $109,560 (community spouse – maximum) threshold. However, in many cases it is…
Watch Out! From a Maryland perspective, Medical Assistance (i.e. Medicaid) only allows one gravesite per person to be exempt. If there is a community spouse, then that community spouse is also only allowed to have one. If there is more than one per person, it is a fully countable asset for Medicaid purposes and the…
Asset Levels for Maryland Medicaid For Maryland purposes, the Medicaid applicant can have no more than $2,500 in countable assets while the community spouse can have no more than $126,420 (can be less) in countable assets. There are many instances where the community spouse will have a lower asset threshold. The key is what is…