Hickman & Lowder Weblog

I've Signed My Healthcare Power of Attorney and Living Will: Now What?

Thursday, 08 January 2015 11:16

docsYou did the responsible thing. You hired a lawyer. You put in place a power of attorney for healthcare and a living will. You know who will be making decisions for you if you can’t communicate and you know who will speak to your doctor if you are unconscious. It seems as though you have done all the right things. You gave a copy of the power of attorney to the person you named. Is it time to sit back and relax?

Almost.

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ABLE Act

Wednesday, 17 December 2014 15:27

Congress has passed the Achieving a Better Life Experience (ABLE) Act this week, which promises to help individuals with disabilities and their families save for disability-related expenses and proactively plan for their futures.  The ABLE Act would allow a single tax-free savings account to be established for individuals who were disabled before the age of 26. 

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Sonja's Suggestions: Loneliness

Thursday, 02 October 2014 11:17

Sonjas SuggestionsRecent conversations with clients who expressed loneliness made me think about the subject. The loneliness one feels after the loss of a loved one must be a difficult thing to overcome. Individuals who are in a facility with no friends or family for visitations must feel all alone in the world, too. I have heard clients say, “This too shall pass,” and, hopefully, it will.

Here are some suggestions for resolving your own loneliness or assisting someone else through theirs:

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ABLE Act: Dream Come True, or Wake-up Call? Maybe Both.

Thursday, 04 September 2014 10:38

moneyAny day now, and likely come New Year’s Day 2015, there’s a good chance that individuals with special needs (and people who care about them) will be able to set up an ABLE Account (stands for Achieving a Better Life Experience). We’ve been following the bills (S. 313 and H.R. 647 as amended on 7/31/14) and their unusually promising path (bipartisan and bicameral, by Jove) toward becoming an actual law when Congress reconvenes this fall. When all is said and done, the upshot is likely to be essentially a tax-favored, 529-type plan for the child whose disabilities manifest before age 26 to be used for education, housing, transportation, and the like. In light of its Medicaid-payback-at-death provision, the ABLE Account won’t be a countable resource for purposes of needs-based benefits like Medicaid and SSI (no matter how large it swells over time for Medicaid, but with a $100,000 maximum for SSI). There would be no fancy lawyers, no special “trusts,” no sticker-shock. Too good to be true? Maybe.

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