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Heritage Law Office Blog

How to Pass Your Home to Your Children Tax-Free

Posted by Brad Sarkauskas | Apr 28, 2018 | 0 Comments

Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs. Leave the house in your will The simplest way to give your house to your children may be to leave it to them...

Medicare and Medicaid: Unlocking the Mystery

Posted by Brad Sarkauskas | Apr 06, 2018 | 0 Comments

Medicare and Medicaid have long been a mystery to many consumers. In fact, it can baffle and confuse even some of the smartest citizens. Like me, you might have thought, “I dont need to worry about this right now.” However, it is never too early to gain a little understanding and awareness that ...

How Does the Medicaid Look-Back Period Work?

Posted by Brad Sarkauskas | Mar 19, 2018 | 0 Comments

Medicaid is intended to give long-term medical care to people who need it. Unlike Medicare, Medicaid is a means-based program, which means a person may only be eligible if they have few assets. The program begins where a person’s funds and other assets end. You’re expected to pay for your own long-term care on your own until you can no longer pay, and then Medicaid takes over. When you consider the possibility of expensive long-term care, you may be concerned about losing your house or other assets in the course of applying. Transferring assets to your spouse, children, or various types of trusts may be ways to protect your assets, however Medicaid has something called a “look-back period” that you need to know about before you transfer anything.

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