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!!!SPECIAL NEEDS TRUST!

Effective December 31, 2016, there has been a significant change in the federal law regarding the establishment of Special Needs Trusts. The “21st Century Cures Act” was signed into law on December 13, 2016. Previously, the law only allowed a parent, grandparent, legal guardian or a court to establish a Special Needs Trust, but Section 1917 (d)(4) (A) which was revised will now allow a disabled individual to establish his or her own Special Needs Trust. This will significantly reduce the time, money and effort in having to obtain court approval to establish a Special Needs Trust.

!!!VETERAN’S ADMINISTRATION ALERT!!!

The Veterans Administration (VA) has published a proposal that will significantly change eligibility rules for veterans’ and or their spouses. The VA now anticipates that the final rule changes will be published after April 2017. Therefore, it is important that all veterans and their spouses, who anticipate that they will be applying for VA Benefits now or in the future, should consult with an accredited VA Attorney as soon as possible.

These rules include:

  • Establishing a clear net worth limit
  • Defining and clarifying deductible medical expenses
  • Three year (36 month) look back period

!!!DISASTER ALERT!!!

Any assistance received due to a catastrophe or major disaster having been declared by the President of the United States, is permanently excluded as a resource for Medicaid. Funds must be identifiable as disaster funds.

The FEMA Program’s money due to the flood victims is considered disaster assistance, and any interest earned is excluded as an income resource.

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  • Important Upcoming Free Seminar
    by Losavio&DeJean on August 8, 2018 at 7:50 pm

    Our next free seminar on How to Plan for Long Term Care is scheduled for Tuesday August 21, 2018 at the Ascension Parish Library – Gonzales 708 South Irma Blvd. Gonzales, LA 70737 at 9:30am, 12:00pm, and 6:00pm.  To reserve … Continue reading &rarr […]

  • Beware! Homestead Exemption for Louisiana...
    by Losavio&DeJean on July 31, 2018 at 2:44 pm

    Debtors in Louisiana can be exempt from seizures in a Louisiana bankruptcy of equity in their home of $ 25,000.00. Further, if the obligations are related as a direct result of catastrophic or terminal illness or injury, the debtor can … Continue reading &rarr […]

  • The Difficulties of Challenging a Will
    by Losavio&DeJean on July 26, 2018 at 4:18 pm

    Due to the increased number of diagnosed cases of Alzheimer’s disease and dementia, there are more potential cases of heirs challenging wills based on the decedent’s incapacity. Challenging a will in Louisiana courts, can be expensive, time consuming and emotionally … Continue […]

  • Will an Inheritance or Personal Injury Settlement...
    by Losavio&DeJean on July 24, 2018 at 4:08 pm

    It is not unusual for person’s receiving Social Security benefits to come into money or property by way of inheritance or personal injury settlement or judgment. To determine whether the receipt of this money or property will adversely affect your … Continue reading &rarr […]

  • Social Security Disability: Don’t Avoid...
    by Losavio&DeJean on July 13, 2018 at 4:23 pm

    It is not uncommon for people that have physical or mental disabilities to avoid treatment. When the medical records are reviewed, you will find long time periods where the claimant did not see a doctor for examinations or treatments. These … Continue reading &rarr […]

  • Taxpayers who owed tax this year should check...
    by Losavio&DeJean on July 5, 2018 at 7:50 pm

    Taxpayers who owed additional tax when they filed their federal return earlier this year should do a “paycheck checkup” as soon as possible. The IRS Withholding Calculator and Publication 505, Tax Withholding and Estimated Tax, can help these taxpayers do … Continue reading &rarr […]

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