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A family letter is a key part of a good estate plan. It is much more personal than many of your estate documents. A family letter allows you to share your heart and show appreciation and gratitude to family members. During a time when family members are grieving, it also helps them to complete many practical steps to protect your property.

The family letter may have up to ten different sections. Each section will cover an important but separate topic.

Estate Data

Your estate organizer usually has four parts. It will explain the family names and key information, identify your attorney, CPA and other financial and health advisors, cover all of your assets and financial information and outline your estate planning choices.

The estate organizer may be printed or you may use an online version. Your family letter should explain where the information is located. If you are using an online estate planner, it's important for your personal representative to know your account name and password so the information will be available.

Important Documents

Your important documents will generally be safeguarded in three different ways. First, many individuals have a safe deposit box. The safe deposit box typically holds birth certificates, death certificates, degrees and other legal agreements, marriage or divorce documents, military discharge records, property deeds, a personal property inventory, stock and bond certificates and vehicle titles.

Second, you may have a fireproof box at home. This box will frequently include your insurance policies, your living will, medical power of attorney or advance directive, trust documents and your will.

Third, there are some items that should be left with your attorney, friend, agent or another trusted person. These are items that may be needed while you are still living or will be necessary very soon after you pass away. These documents (or copies of documents) could include your financial power of attorney, a durable power of attorney for healthcare or advance directive, your living will, trusts and your will.

Accounts and Passwords

Because an increasing number of records and information are retained online in personal accounts, you will want to be certain that your personal letter lists all accounts. You may decide to include passwords with the personal letter. Alternatively, if you are entrusting all of this information to a specific person or other location, that should be identified.

With the rapid movement to online banking, online mutual funds and securities accounts, donor advised fund accounts, health savings accounts and your email accounts, you may have six to 10 accounts with various passwords. It will be important to have all of this information recorded.

Your Family History

While your estate organizer will include basic information about you and your family members, there is an excellent opportunity in your family letter to discuss your family history. This can include a few short paragraphs that give the names and background of your parents. List all of their children or other key relatives in your family. Your history may discuss marriages, divorces and any blended family relationships. Finally, the family history will show the date of death for persons who have passed away.

Family history can include discussions of your activities, interests and career. It enables all of your extended family to have a good picture of your entire life.

Care for Children, Grandchildren or Pets

If you are responsible for any children, grandchildren or pets, this is an opportunity for you to explain your plan for their care. While your estate planning documents will normally appoint guardians for your children or grandchildren who are under your care, it still may be beneficial for the guardian to receive recommendations from you on their education and other areas of development that you understand very well. If someone is to care for pets, you may have recommendations on the way in which that is done.

Memberships

You may have memberships in a number of organizations. Some memberships, such as for a country club or club that purchases sporting event tickets, are transferable to heirs. It would be helpful to your family for you to list any memberships that you have so they can handle them properly.

Care of Your Body

When you pass away, your body may be in the custody of a medical center or nursing home. If you have previously decided to make any organ donations, it is helpful to explain that decision in your family letter. The requirements for making organ donations are typically covered under state law. In many cases, decisions on organ donations are made when you sign your living will or advance medical directive.

Funeral or Memorial Services

The cost of many funerals now exceeds $10,000. If you would like to assist family members in the decisions surrounding your funeral or memorial service, the family letter is an excellent way to do so.

First, your family will need to decide whether to have a burial in a cemetery with a casket or to use cremation services and an urn. You may have personal or religious reasons for preferring one or the other.

With a casket and burial in a cemetery, your family will generally make use of a funeral home. Because there now is significant competition in the industry, funeral homes are starting to offer advance prices and package services. If you desire a specific range of services, type of casket or prefer not to be embalmed, those directions are helpful to your family.

There are funeral consumers' alliances in many locations. Your family may find assistance and guidance on www.funerals.org. This guidance may help them make good decisions during a very difficult time in the midst of grief over your loss.

If you are a veteran, your family may want to contact the Department of Veterans Affairs. You may qualify for a gravesite at no cost in one of the 130 national cemeteries for veterans and their spouses.

Obituary

In your funeral or memorial service, there will be eulogies. It is also customary to have a printed description of your lifetime. This will frequently include your basic history, awards, achievements, military service and lifetime employment. If you have specific requests for information to be included in the obituary, it is helpful to your family to give them guidance. You may have certain principles or values that are important to you that you would like to share through the obituary. This is an opportunity for you to communicate your values to the public.

Final Words and Blessings for Family

Your family letter may conclude with a word of blessing. It is a tradition in many cultures for the elders to provide a blessing for the next generation. This is frequently done when the elder is still living, but certainly your family letter provides a similar way to bless your children, grandchildren, nephews, nieces and other family members.

Your final words of wisdom and blessing for family members will be of great comfort as they grieve your loss. It is an appropriate and fitting way to conclude your family letter.

Because of my back pain and mobility issues, I am interested in getting a walk-in bathtub that is safe and easy to get in and out of. What are some things to consider when choosing a walk-in bathtub?

For individuals with mobility challenges, a walk-in bathtub can be a useful option to consider as it provides easier access into and out of the tub and helps prevent falls. Here is what you should know, along with a reliable resource to help you choose one.

Accessible Tubs

Walk-in bathtubs are uniquely designed tubs that have a watertight, hinged door built into the side of the tub that provides a much lower threshold to step over (usually three to seven inches) compared to a standard tub that is around 15 inches.

Most walk-in tubs have high sidewalls, usually between three and four feet high, and are between 28 and 32 inches wide. In most cases, they will fit into the same 60-inch-long space as your standard tub without having to reconfigure the bathroom.

In addition to the low threshold, most walk-in tubs have a built-in seat, grab bars, anti-slip floors and anti-scald valves. Some tubs also come with handheld showerheads and quick drains that can empty the tub faster than standard tubs. Many higher-end models offer therapeutic spa-like features that are also great for individuals with arthritis and other ailments.

The best kind of tub for you will depend on your needs, preferences, budget and the size and layout of your bathroom. Prices range from $3,000 to $10,000 or more for the tub and installation costs.

Insurance and Aid

Because walk-in tubs are not considered durable medical equipment, they are not typically covered by Medicare or Medicare supplemental (Medigap) policies. However, some Medicare Advantage plans may offer coverage.

If you qualify for Medicaid, your state program may have a Home and Community-Based Services Waiver program that may provide some assistance. Disabled veterans may also receive assistance through the VA’s home modification grants.

There are also grants and loans available through the U.S. Department of Agriculture that help elderly, low-income residents of rural areas make home modifications, which may be used to pay for a walk-in bathtub. Depending on where you live, there may be local programs that can help like Habitat for Humanity or Rebuilding Together. To find out if these options are available in your area, call your Area Aging Agency at 800-677-1116 or contact your nearby center for independent living (see ilru.org).

If you cannot locate any financial assistance and you cannot afford to pay upfront for a walk-in tub, most manufacturers offer financing that allows you to make monthly payments. If you are using a walk-in tub for a specific medical condition, you may also be able to deduct the costs of the tub from your taxes as a medical expense (see irs.gov/pub/irs-pdf/p502.pdf).

Choosing a Walk-In Bathtub

To help you choose a walk-in bathtub, the National Council on Aging, which is a national nonprofit organization that advocates for older Americans, put together a review team to research the different companies and tubs. See NCOA.org/adviser/walk-in-tubs/best-walk-in-tubs for their detailed reviews and product links.

To get started, you should contact a few walk-in bathtub retailers who can send a professional to your home to assess your bathroom and give you product options and estimates. Some home improvement retailers offer free evaluations and a wide range of walk-in tub options.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

 

Published August 23, 2024

If my parent needs to move into a nursing home, what are the eligibility requirements to receive Medicaid coverage?

The rules and requirements for Medicaid eligibility for nursing home care are complicated and will vary according to the state your parent lives in. With that said, here is a simplified overview of the key requirements for qualifying.

Medicaid Eligibility

Medicaid, a joint federal and state program that provides healthcare for low-income individuals, is also the largest single payer of nursing home bills in the country. Some states have different names for their Medicaid program.

Most people who enter nursing homes do not qualify for Medicaid and, instead, pay for their care through long-term care insurance or out-of-pocket. Once an individual's insurance benefits end, or their savings become exhausted, they may become eligible for Medicaid.

To qualify for Medicaid, your parent's income and assets will need to be under a certain level that is determined by your state. Most states, with the exception of California and New York, require that a single person have no more than about $2,000 in countable assets and $3,000 for married couples when both spouses apply. The assets would include cash, savings, investments or other financial resources that can be turned into cash. New York allows for $31,175, while California eliminated its asset limit starting in 2024.

Assets excluded from eligibility include your parent's home provided its equity interest is within $713,000 or up to $1,071,000 in some states. Other non-countable assets include personal possessions and household goods, one vehicle, prepaid funeral plans and a small amount of life insurance.

Be aware that an applicant's home is not considered a countable asset to determine eligibility if a non-applicant spouse lives in the home, if the applicant lives in the home, or has an intent to return to the home. If the home is not exempt, an applicant may be required to sell it to use the proceeds to reimburse the nursing home costs.

After qualifying, all sources of your parent's income such as Social Security and pension checks must be turned over to Medicaid to pay for their care, except for a Personal Needs Allowance (PNA) which varies by state but is usually between $30 and $200 per month. The PNA is intended to cover the nursing home resident's personal expenses not covered by Medicaid.

You also need to be aware that your parent cannot give away assets to qualify for Medicaid. Medicaid officials will look at their financial records going back five years (except in California which has a 30-month look-back rule) to root out asset transfers. If they find one, any Medicaid coverage will be delayed a certain length of time, according to a formula that divides the transfer amount by the average monthly cost of nursing home care in their state.

Spousal Protection

Medicaid also has the Medicaid Community Spouse Resource Allowance for married couples when one spouse enters a nursing home, and the other spouse remains at home. In these cases, the non-applicant spouse can keep one half of the couple's assets up to $154,140 (this amount varies by state), the family home, the furniture and household goods and one automobile. The non-applicant spouse is also entitled to keep a portion of the couple's monthly income - between $2,465 and $3,854. Any income above that goes toward the cost of the nursing home recipient's care.

What about Medicare?

Medicare, the federal health insurance program for individuals 65 years and older, and younger individuals with disabilities, will not pay for long-term care. It only helps pay up to 100 days of skilled nursing facility care, which must occur after a hospital stay that lasts at least three consecutive days, not counting the day of discharge.

For more information, contact your state Medicaid office. You can also get help from your State Health Insurance Assistance Program (see ShipHelp.org), which provides free counseling on Medicare and Medicaid issues.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Over 3.4 million taxpayers have benefited from $8.4 billion in energy credits. As August air-conditioning bills mount, many homeowners are considering residential energy investments for home improvements.

The Internal Revenue Service (IRS) announced that 1.2 million taxpayers claimed more than $6 billion of residential clean energy tax credits. Over 2.3 million taxpayers received $2.1 billion in credits for home energy improvement projects.

The residential energy credit went to 750,000 homeowners who installed solar rooftop panels. About 700,000 taxpayers improved their homes with insulation or other types of energy enhancements.

Treasury Secretary Janet Yellen stated, "The law has lowered the cost of clean energy upgrades for more than 3.4 million American families, saving them hundreds, if not thousands, of dollars annually on their utility bills for many years to come."

The IRS website explains there are requirements and limits for home energy credits. There are also specific rules for the residential clean energy credit or the efficient home-improvement credit.

  1. Home Energy Tax Credits — Homeowners may claim a credit for their primary residence. Some renters and owners of second homes may also qualify. The specific details on energy credits are explained on energy.gov. The residential clean energy credit generally involves solar, fuel cells or batteries and is 30% with no lifetime or annual limit from 2022 to 2032. For most taxpayers, the energy efficient home-improvement credit for 2023 through 2032 is 30% up to a maximum of $1,200. However, there is an additional potential $2,000 credit for heat pumps, biomass stoves and boilers.
  2. Residential Clean Energy Credits — The nonrefundable residential clean energy credit is not limited, except for fuel cells. The fuel cell limit is $500 for each half kilowatt of capacity. The credit applies to both owners and renters of their main home. The credit is normally applied to solar photovoltaic panels, but may also include solar water heaters, wind turbines, geothermal heat pumps, fuel cells and battery storage. Homeowners who receive any rebates or subsidies will need to subtract those amounts from the qualified expenses. Battery storage qualifies if there is a capacity of 3 kilowatt hours or greater.
  3. Energy Efficient Home Improvement Credit — The efficient home credit is generally 30% up to $1,200 for most improvements and 30% up to $2,000 for heat pumps, biomass stoves and boilers. You must be modifying your main residence, and it must be located in the United States. The building components must have a lifespan of at least 5 years. Energy Star exterior doors or windows and skylights may qualify. Insulation and air ceiling materials must meet the International Energy Conservation Code (IECC) standards. A home energy audit with a written report by a home energy auditor qualifies for a $150 credit. The residential energy items could include central air-conditioners, natural gas, propane or oil water heaters or furnaces and boilers that meet Consortium for Energy Efficiency (CEE) standards. If there are any subsidies or rebates, those must be subtracted before calculating your credit.

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