Blog

Life Insurance and Revocable Living Trusts

Life Insurance and Revocable Living Trusts Illinois exempts from creditors all proceeds payable because of the death of the insured and the aggregate cash value of any and all life insurance and endowment policies and annuity contracts payable to a spouse of the Insured or to a child, parent, or other person dependent upon the…

read more
Proposed Settlement Could Expand Medicare Coverage

Proposed Settlement Could Expand Medicare Coverage  A proposed class-action settlement may help tens of thousands of people with chronic conditions and disabilities qualify for Medicare coverage.  Presently, Medicare guidelines indicate that coverage should be denied if a patient reaches a plateau and is not improving.  As a result, if a patient suffering from a chronic…

read more
AccessChicago

AccessChicago On July 19, 2012, from 10am to 5pm at Navy Pier-Festival Hall A, Chicago, the Mayor’s Office for People with Disabilities will bring together more than 100 of Chicagoland’s disability related service providers, product merchandisers, assistive technology suppliers and recreational exhibits for a free exposition for people with disabilities, their families and friends.  To…

read more
Court finds that Assets transferred to an Alaska Asset Protection Trust are reachable in Bankruptcy

Court finds that Assets transferred to an Alaska Asset Protection Trust are reachable in Bankruptcy Creditor Protection In Battley v. Mortensen, Adv. D. Alaska, No. A09-90036-DMD, the Court focused whether the grantor of the trust, Mortensen, intended to hinder, delay or defraud his creditors by establishing the Alaska Domestic Asset Protection Trust and transferring land…

read more
Withdrawals from Qualified Plans for Those under Age 59 ½

Withdrawals from Qualified Plans for Those under Age 59 ½ Retirement plans often represent the largest asset an individual may own.   In these unsettling economic times, an individual may want to access this asset to pay bills or for other needs.   Typically, if an individual under age 59 ½ wants to withdraw monies from a…

read more
VETERANS’ BENEFITS

VETERANS’ BENEFITS For the first time since 2008, the Department of Veterans Affairs has announced an increase in the maximum Aid and Attendance, an enhanced pension benefit for eligible veterans.   These new figures for 2012 are:  $20,447 per year ($1,074 per month) for a qualified veteran $24,239 per year ($2,020 per month) for a qualified…

read more
Illinois Implements changes to the Medicaid eligibility rules for long-term care as directed under the Deficit Reduction Act of 2005 (DRA)

Illinois Implements changes to the Medicaid eligibility rules for long-term care as directed under the Deficit Reduction Act of 2005 (DRA) For Medicaid applications for long-term care nursing care filed on or after January 1, 2012, Illinois will apply its new rules that incorporate changes required by the DRA.  The rules increase the look-back period…

read more
2012 Increases in the Community Spouse Asset Allowance (CSAA) and Community Spouse Maintenance Needs Allowance (CSMNA)

2012 Increases in the Community Spouse Asset Allowance (CSAA) and Community Spouse Maintenance Needs Allowance (CSMNA) Effective January 1, 2012, the Community Spouse Asset Allowance (CSAA) and the Community Spouse Maintenance Needs Allowance (CSMNA) will increase.  The CSAA standard will increase from $109,560 to $113,640.   This is the maximum amount a nursing home resident may…

read more
Autism NOW

Autism NOW The Arc, through a grant from the Administration on Developmental Disabilities, has created a national resource and information center called Autsim Now, http://autismnow.org/ ,for people who identify as having an autism spectrum disorder or other developmental disability. This new resource provides high-quality information about issues important to people on the autism spectrum or with…

read more