Planning for Life

What's the Difference Between "Supplemental" and "Special" Needs Trusts? - Massachusetts

Posted by Harry S. Margolis on October 9, 2012

By Harry S. Margolis

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Topics: Retirement Planning, special needs planning, long-term care planning, MassHealth

Prepare for Tax Increases Coming Down The Road

Posted by Harry S. Margolis on October 2, 2012

By Harry S. Margolis

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Topics: Affordable Care Act, long-term care planning

Medicare Set Asides in Liability Cases: Advance Notice of Proposed Rulemaking

Posted by Harry S. Margolis on July 24, 2012

By Christina T. Vidoli

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Topics: MassHealth, Medicare, long-term care planning

5 Guidelines for Caring for the Caregiver - Massachusetts

Posted by Harry S. Margolis on July 10, 2012

By Harry S. Margolis

Taking care of a senior, whether due to dementia or illness, can be exhausting and stressful. Often due to the lack of outside help, a devotion to the person needing care, or the tunnel vision that can accompany exhaustion, caretakers don’t take care of themselves.  

If this describes you, you must take care of yourself.  Failure to do so can lead to burn out, injury or illness.  If you are the caregiver, any of these results will harm your ability to care for your loved one.
Photo by Tim Doerfler on Unsplash

Here are some steps you can take to take care of yourself and make sure you can take care of your loved one:

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Topics: seniors, dementia, caregiving, long-term care planning

What is a Life Estate and Why Would You Want One? - Massachusetts

Posted by Maggie Lorenzo on April 9, 2012

By Harry S. Margolis

What is a life estate?

            The term “life estate” refers to property that is owned by an individual only through the duration of his or her lifetime. Therefore, it’s always for an indefinite period of time.  We usually encounter life estates when dealing with real estate.  When you have a life estate, you are called the “life tenant.”  For example, you can sell or give your home to your children, but retain a “life estate,” thereby reserving the right to live in, use, enjoy, and control the home until you die.  Your children would be called the “remaindermen.”   

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Topics: long-term care planning, Estate Planning

The State of Nursing Homes in Massachusetts

Posted by Harry S. Margolis on February 15, 2012

By Harry S. Margolis

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Topics: Medicare, MassHealth, long-term care planning, nursing homes

Why Medicaid Planning Isn't for Everybody - Massachusetts

Posted by Harry S. Margolis on January 2, 2012

By Harry S. Margolis


My new client was recently widowed.  She is healthy, living on her own in the house she shared with her husband for many decades.  She is comfortable financially with significant savings in addition to the home, but by no means wealthy.  Her four children all have families of their own and they and their spouses have good jobs, so they don't need her financial support.

I met with her and her son. They asked whether the mom should put her home, and perhaps some of her savings, into an irrevocable trust in order to protect them in the event she needs long-term care.  She also expressed her steadfast wish to stay at home.

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Topics: asset protection, long-term care planning, Estate Planning, MassHealth, MassHealth planning

Do You Live in a NORC?

Posted by Harry S. Margolis on October 3, 2011

By Harry S. Margolis

I recently met with a new client who commented that she lives in a NORC.

"A what?" I asked.iStock-474949592.jpg

"A Naturally Occurring Retirement Community," she responded.

She explained that she and her neighbors in the apartment complex where she lives are all getting older.  Without a lot of people moving in and out, the facility is taking on the demographics of a retirement community.

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Topics: seniors, Retirement Planning, long-term care planning, nursing homes

Should You Have to Spend Down for MassHealth Coverage?

Posted by Jamie Marshall on April 25, 2011

nursing home couple

By Harry S. Margolis

We recently received this question from one of our readers:

Since when does a nursing home require that all assets be given to them, including life insurance policies before going on MassHealth? Why should they get every penny while the person is alive and after they die too?

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Topics: MassHealth, MassHealth planning, long-term care planning

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