Barbara Steinberg

Caring.com Expert

About

Barbara Steinberg is a certified financial planner, a certified estate advisor, and founder of BSA Advisors, a financial planning firm for senior citizens.

Recently Published on Caring.com

  1. Tuesday May 19, 2009

    1. Where can I get financial assistance for monthly expenses?

      Answer - A list of state and federal programs that offer financial assistance.

  2. Monday July 21, 2008

    1. What are the tax implications of inheriting an IRA, stock and mutual funds?

      Answer - Answer to how to figure out the tax implications for joint accounts and trusts when one parent dies.

    2. As a husband, what financial steps should I take to both protect my wife as she progresses through the steps of Alzheimer's and myself?

      Answer - When one's spouse is facing a long-term illness like Alzheimer's it's important to understand the rules for Medicaid in order to pay for long-term care.

    3. FAQ: How can I get a free HIPAA release form?

      Answer - Where to find a free HIPAA medical release form on the Web.

  3. Tuesday July 15, 2008

    1. If I claim my mother in my taxes, do I have to claim her income?

      Answer - If your parent gets over $3,400 in pension or other income, you can't claim them as a dependent on your taxes.

    2. Can my mother give tax free gifts to family members like grandchildren?

      Answer - Everyone can gift up to $12,000 per year to as many people as they wish and not have to file any gift tax returns or report it anywhere else.

    3. Should I get a reverse mortgage or a bank loan for my elderly folks?

      Answer - For some seniors, reverse mortgages make more sense than a traditional bank loan as a way to get cash.

  4. Thursday July 10, 2008

    1. Do You Have to Be Bankrupt to Get Medicaid?

      Answer - Can insurance or Medicare or Medicaid require my parents to bankrupt themselves to qualify?

  5. Thursday June 12, 2008

    1. Should I take Medicare Part B even though I still work full-time and have health insurance from work?

      Answer - Advice on Medicare Part B for people with employer-based insurance.

  6. Tuesday May 27, 2008

    1. Are reverse mortgages available if there is a tax lien?

      Answer - Answer to: can you get a reverse mortgage with a tax lien on the property?

    2. How do I reflect my mother's Medicaid coverage and nuring home costs on her tax form and is she eligible for the rebate?

      Answer - Answer to: how do I reflect my mother's Medicaid and nursing home expenses on my mother's taxes?

    3. Are there loans available for senior citizens on section 8?

      Answer - Are there loans available for seniors on Section 8? Yes, section 8 homes can qualify for FHA-insured mortgages.

    4. Should my parents drop private insurance for Medicare only?

      Answer - You need to evaluate the true cost of Medicare versus out-of-pocket costs before dropping Medicare.

    5. I am 53 with no insurance. Where do I go for help?

      Answer - If you're disable and don't have health insurance, you may get coverage through two Social Security insurance programs.

  7. Sunday May 18, 2008

    1. Who are the best long term care providers and reverse mortgage companies?

      Answer - Answer to: who are the best long term care insurance providers and reverse mortgage companies?

    2. What are annuities and do they make sense for someone over 80?

      Answer - What are annuities and do they make sense for someone over 80?

    3. How do retiree health benefits work when you move out-of-state?

      Answer - How do retiree health benefits work when you move out of state?

    4. How do we buy a house back that had a reverse mortage?

      Answer - My grandmother took out a reverse mortgage on her house before she died. How do we buy the house back?

  8. Sunday May 11, 2008

    1. Should we get a home equity line of credit in order to pay for nursing home care until my parent's home is sold?

      Answer - Should we get a Home Equity Line of Credit to pay for my parents nursing home care while we wait for their home to sell?

  9. Monday May 05, 2008

    1. Having limited resources, how do I get into a nursing home?

      Answer - Having limited resources, how do I get into a nursing home?

  10. Sunday April 27, 2008

    1. Siblings disagree over selling parent's house

      Answer - Do I have any rights as a sibling? My sister has power of attorney and wants to sell my mom's house in New York.

    2. When property is held jointly and one party enters a nursing home, what is the financial responsibility of each party?

      Answer - When property is held jointly and one party enters a nursing home, what is the financial responsibility of each party?

  11. Tuesday April 22, 2008

    1. Can my mother do a reverse mortgage on our home?

      Answer - My mother took out a reverse mortgage on our home.

    2. How do we handle paying deceased taxes on my mother's estate?

      Answer - My siblings and I will be co-owners of my deceased mother's home. Do we need to worry about her taxes?

    3. My father is withdrawing money from his accounts but can't remember where he's spending the money. What can I do?

      Answer - My father is withdrawing money from his accounts and cannot account for where he spends it.

    4. How does a reverse mortgage affect the equity 5 to 10 years down the road?

      Answer - How does a reverse mortgage affect future equity?

  12. Monday March 31, 2008

    1. Can my mother do a reverse mortgage on our home?

      Question - I am 51 and co-own my mother's home. Can she take out a reverse mortgage?

  13. Monday March 24, 2008

    1. How do I get into a nursing home with limited resources?

      Answer - How do I qualify and pay for nursing home care having only very limited resources?

    2. Is there any financial aid for a child to quit their job and care for their parent?

      Answer - Is there any financial aid or support for an adult child who has to quit their job to give full-time care to an aging parent?

    3. Who is responsible for paying for my mother's care?

      Answer - Who is responsible for paying for my mother's care, her second husband or her children?

  14. Saturday February 16, 2008

    1. Does the Veterans Administration have any claim on my parent's estate?

      Answer - The VA's nursing home programs include VA-operated nursing home care units located at VA hospitals, contract community nursing homes and state homes. The majority of these facilities are state VA homes and the rules vary from state to state. In some states, the VA home charges a maximum monthly fee if a resident's assets are above a specified limit...

  15. Monday January 28, 2008

    1. What are reverse mortgages?

      Answer - An explanation of reverse mortgages.

  16. Friday November 16, 2007

    1. How do we decide between a reverse mortgage for my father or a personal loan from me?

      Answer - Loans between family members are always fraught with potential complications, and your case is no exception. There are a number of issues to consider, but they all boil down to one big issue: What would be the impact of this type of loan on you and your family?

  17. Monday September 24, 2007

    1. How can I help my mom, who has chronic pulmonary disease, from across the country?

      Answer - Medicare Part B covers durable medical and oxygen equipment. And, under Medicare Part B, if your mother chooses to rent or lease the equipment, the equipment is considered her property after 13 months. Your mother would then be responsible for maintenance expenses, but she'd own the equipment outright...

    2. What are my tax responsibilities when hiring a home health aide?

      Answer - Most home health aides are considered employees of the person who hires them. If you hire your mother's aide yourself, then you're responsible for withholding and paying all the relevant employee taxes, including payroll taxes, Social Security taxes, and other mandated withholding in your state, such as unemployment insurance...

  18. Wednesday September 12, 2007

    1. What are the risks with reverse mortgages?

      Answer - The bottom line is there are very few risks with these kinds of loans, provided that you and your mother do your homework, find a trustworthy lender, and make sure she's the right candidate for a reverse mortgage.

  19. Monday September 10, 2007

    1. Am I responsible for my parent's debt?

      Answer - In a word: No.

  20. Thursday September 06, 2007

    1. Will Medicaid or Medicare help pay for my mother's long-term care?

      Answer - Medicare and Medicaid serve two very different purposes: Medicare is similar to regular health insurance, providing coverage to people over the age of 65. Medicaid, on the other hand, is basic health insurance for people older than 65 who have limited income and assets.

    2. Are Medicaid annuities a scam?

      Answer - While it may not be a scam, the purchase of a Medicaid annuity is of no benefit to most people -- especially single people and those with enough money to pay for their own care, like your mother.

    3. With both my parents in the hospital, how can I pay their bills?

      Answer - If your parents aren't incapacitated, the simplest solution is to have them sign checks and pay their bills from the hospital. (You may find that they use an automated bill-paying service or have their bills paid automatically online. In that case, you won't need to worry about debts piling up.) 1 Comment

    4. Where can I get help paying for prescription drugs?

      Answer - Since your husband is 65, he qualifies for Medicare. If he hasn't already enrolled, he should do so immediately. Then he'll be eligible for Medicare Part D, which provides prescription drug coverage. 3 Comments