All posts by Janet Colliton
Groundbreaking Medicaid Case Changes Landscape
Just as I was proverbially speaking on my way out the door for vacation, a ground breaking Medicaid case was decided that establishes a “safe harbor” for Medicaid planning. The case is a Pennsylvania case from the federal Third Circuit Court of Appeals but has implications throughout the country. It is one in which organizations […]
Continue readingGifting for those who can afford to gift
If you have a million or more in assets and are trying to decide whether and when to gift during your lifetime or after your passing, this column is for you. Often the possibilities are overwhelming but here are some considerations. As a cautionary note, this column is for very high asset individuals who are […]
Continue readingMedicaid Myths You Need To Know
When it comes to Medicaid and planning, a little learning is a very dangerous thing. I have seen families lose hundreds of thousands of dollars or be rejected for admission to a preferred placement because they thought they knew Medicaid from some connection with a relative or friend in the past. Here are some of […]
Continue readingTurning 65? -What To Know About Medicare
Retirement age used to be simpler. At age 65 you figured you would start collecting Social Security and begin to be insured under Medicare. You were expected to retire from work and, with your gold watch and farewell party, everything was set. Today you might begin to collect Social Security for most applicants at any […]
Continue readingHow To Gift Lesser Beneficiaries
Most clients know when planning their wills who they want to name as their primary or most important beneficiary. They do struggle, though, sometimes for years, as to how to benefit others further down the line. For married couples, using the typical husband to wife, wife to husband wills, with remainder to the children when […]
Continue readingExploring What Is the Best State for Long Term Care
If your parents live in Kentucky and you live here in Pennsylvania and your brothers and sisters live in California and New York, chances are you may have had “the conversation” discussing with your parents where they might live if one of them needs long term care. It is not just a question whether they […]
Continue readingGoodbye to the Medicare ‘Doc Fix’
Among the more bizarre actions that Congress has had to take over the past several years has been the regular ritual to pass measures preventing reduction in doctors’ fees for Medicare patients. Known as the “doc fix,” the bills were short term fixes for a longer term issue, that is how to control the cost […]
Continue readingWhat Happens With a CCRC (Continuing Care Retirement Community) When You Run Out of Money?
When clients ask me to review an agreement to enter a Continuing Care Retirement Community (CCRC), the most frequently asked question is “what happens if I run out of money?” The issue may be presented in another way such as “what are the major risks?” or “Will I have to move if I run out […]
Continue readingA Will Is Only The Beginning
Often people think they have resolved estate planning issues once they have drafted a will. This is one reason such services as Legal Zoom can be so popular. Actually this is just the beginning. People can also hire a estate planning attorney if there are any issues with estate planning. Sometimes I try an experiment […]
Continue readingSocial Security SSD or SSI: There Are Major Differences
Two different Social Security benefits for disabled participants, Social Security Disability (SSD) and Supplemental Security Income (SSI), have very different income and asset requirements and lead to very different planning results. The irony is that many, perhaps most, of the participants in these programs, when asked, do not know which program is the reason for […]
Continue readingMark your calendar for Social Security and Medicare dates
When Medicare and Social Security were first proposed, the ages for claiming benefits might have seemed simple, and it was consistent. Today, it seems more complicated. Here is a timeline to keep track of those benefit birthdays and what you should know for each. Note: these are general rules. If you are unsure, you should […]
Continue readingHere Is What’s Covered Under Medicare When You’re Hurt
Some meanings elude you until you are actually dealing with them. One of these is the difference between occupational therapy (referred to commonly as OT), physical therapy (known as PT) and home health care. Readers who have been following my columns lately would know that a recent personal experience gave me direct contact and interest […]
Continue readingEmergency Fund Can Keep You Prepared For Crisis
Last week this Janet Colliton discussed a very personal experience regarding a fall and injury where she got help from experts like a personal injury lawyer and shared the hospital experience from the inside. This week I want to share something I did almost unconsciously before that time that made an enormous difference to me […]
Continue readingJanet Colliton Experiences Senior Health Care System First Hand
It was Jan. 18, 2015 and it was not supposed to be this way. I was supposed to be driving my 17-year-old daughter to her gymnastics competition in Quakertown. I am immensely proud of her as a member of the Brandywine Valley “Gymcats” YMCA team. Instead I was lying in the back of an ambulance […]
Continue readingSocial Security Is Retirement And More
If you think of Social Security retirement benefits as only a choice between claiming for retirement at 62, at age 66 for full retirement benefits or at age 70 for more expansive benefits, you may be short changing yourself on some of the varied opportunities under the Act. Here are just a few options available […]
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