MGM Law Blog Posts
New SSA Rules: Regarding Payments for “Food” by Special Needs Trusts and Family
Starting on September 30, 2024, “food” will be removed from the calculations of In-Kind Support and Maintenance (ISM). This will allow Supplemental and Special Needs Trustees as well as family members an additional way to help loved ones that receive SSI and related benefits. SSI is a monthly cash payment for food and shelter. To […]
The Gift and Estate Tax Exemption Gets Cut at the end of 2025. What Happens Then?
Currently less than one percent of American households have assets over $10 million and so would not have to worry about the Federal estate tax exemption of $12.92 million (in 2023) and indexed for inflation. Married couples can double the Federal exemption to be over $25 million! But in 2026 the Federal exemption will decrease […]
May is National Elder Law Awareness Month!
Elder law is an area of legal practice that focuses on the needs and challenges faced by seniors. One important issue that falls under this category is nursing home Medicaid eligibility. Medicaid is a government-funded healthcare program that provides medical assistance to certain populations, and it can be a crucial resource for seniors who require […]
5 Ways an Unmarried Couple Should Plan Their Estate
The average modern family is more like the American Sitcom Modern Family. Couples decide for a variety of reasons not to be married and some may instead elect to become state registered domestic partners. While some details certainly vary for each couple, here are my top 5 ways to protect your partner when you are […]