FEATURE ARTICLE – “Special Needs Planning: 2018 Tax Changes to ABLE Accounts” by Rebecca A. Hobbs, Esquire.
OWM FIRM NEWS & UPCOMING EVENTS – Thomas (“Tip”) P. McCabe, Esq., David A. Megay, Esq., and Rebecca A. Hobbs, Esq. have upcoming information sessions.
Read Full Newsletter
On December 22, 2017, new tax legislation was signed into law by President Trump. The new tax law impacts ABLE (Achieving a Better Life Experience) plan accounts for the 2018 tax year. Modeled after 529 college savings accounts, ABLE accounts allow individuals with qualifying disabilities and their families to save for a wide range of disability-related expenses. The federal tax-free savings and investment options are offered to encourage individuals with a disability and their families to save private funds to support health, independence and quality of life. The annual contribution limit for an ABLE account for 2018 is $15,000. The contributions and the tax-free growth of the contributions may be used by individuals with a disability for “disability related expenses” without interfering with the individual’s eligibility for public benefits such as SSI and Medicaid. …
Continue reading OWM Blog – Special Needs Planning: 2018 Tax Changes to ABLE Accounts →
Many families have children who require an Individualized Education Program (IEP) or a 504 Plan while their children are of school age. There are many reasons why one may be needed involving emotional and physical issues that a child has in trying to optimize their education. A plan is necessary and very helpful in obtaining services for students while in school.
Continue reading Retaining Your Individualized Education Program (IEP) →
Medicare beneficiaries, did you get your new Medicare card yet? I did. I have been waiting for the new card since it was announced last year that the Centers for Medicare and Medicaid (CMS) would finally comply with the mandate to remove the beneficiary’s Social Security number from the Medicare card. My new ID number is reminiscent of the temporary password issued when you cannot remember your current password, a string of numbers and letters that make no sense. That is the point, however, since identity theft was so easy when so many entities had copies of my Medicare card. …
Continue reading Medicare Cards: What is New and Why →
FEATURE ARTICLE – Kathleen M. Martin, Esq., CELA discusses the various programs and services that TRAAC offers to members.
STAFF SPOTLIGHT – Meet Hilda M. Wilson, Billing Coordinator
PRESS RELEASE – O’Donnell, Weiss & Mattei, P.C. is Growing Again
OWM FIRM NEWS & UPCOMING EVENTS – O’Donnell, Weiss & Mattei, P.C. will be participating in National Elder Law Month this May by offering a free 30-minute consultation with an attorney to review current estate planning documents (i.e. Wills, Powers of Attorney, Living Wills). Please call our office at (610) 323-2800 or (610) 917-9347 to schedule your free 30-minute consultation with one of our Elder Law or Estate Planning attorneys in either the Pottstown or Phoenixville office.
Read Full Newsletter
As part of our continuing spotlight on area non-profit organizations, and also as part of the celebration of Elder Law Month in May, two (2) attorneys from OWM Law met with Brian Parkes, the Executive Director of the TriCounty Active Adult Center (TRAAC) which is formerly known as the Pottstown Area Senior Center. …
Continue reading OWM Blog – Spotlight on TriCounty Active Adult Center →
Intrafamily care was common in the United States several generations ago. With today’s aging population, there are indicators that not only baby boomers, but millennials, are inviting their parents to move in with them, renovating their homes to accommodate a surviving parent. With the rising costs of nursing home care, children are reverting to the “old ways” of multigenerational living, giving the children both peace of mind regarding the parent’s care, and reducing many of the stresses related to long distance caregiving. A side benefit is the home is then senior-suitable when they need it.
Continue reading OWM Blog – Parents Living with Adult Children →
According to a study conducted by AARP and National Alliance for Caregiving study, nearly 40 million Americans in 2014 were providing unpaid care to people who are older, disabled, or otherwise in need of assistance[i]. For those that leave jobs to care for family members, it can become a financial hardship for the family. Frequently, the family does not realize the legal intricacies involved in privately paying a family member or friend to provide care. Payments made to a family member or private caregiver who provides care can be a minefield of potential Medicaid and income tax issues.
Continue reading Family Caregiver Agreement in Pennsylvania: How to Avoid Traps for the Unwary →
Local Elder Law and Estate Planning Attorneys to Offer Free Document Review
O’Donnell, Weiss & Mattei, P.C. will be participating in National Elder Law Month this May by offering a free 30 minute consultation with an attorney to review current estate planning documents – Wills, Powers of Attorney, Living Wills. Please call one of our offices at (610) 323-2800 or (610) 917-9347 to schedule your free 30 minute consultation with one of the attorneys in our Elder Law Department in either the firm’s Pottstown or Phoenixville office.
For more information, please read our full newsletter.
On February 26, 2018, the Pennsylvania Department of Human Services (DHS) published an updated Burial Cost chart for 2018. Click this link to see the chart: 2018 PA Burial Limits. This chart provides the maximum amount under Pennsylvania’s Medicaid rules that can be used to fund an irrevocable burial reserve, or pre-paid funeral. The benefit of prepayment of funeral costs is that the prepayment or burial reserve is not counted as a resource when determining Medicaid eligibility.
Continue reading OWM Blog – Medicaid: Pennsylvania Department of Human Services Announces 2018 Burial Limits →