We closely monitor the Medicaid parameters because many seniors will rely on this program to preserve their legacies. Why is Medicaid relevant to people that will qualify for Medicare as a source of health insurance? Most seniors will need help with their activities of daily living, and more than one third of them will require nursing home care. You can expect to pay well over $100,000 for a year in a Burlington area nursing home, and Medicare does not cover the custodial care they … [Read more...] about Medicaid Spouse Allowances Will Rise in 2021
As elder law attorneys, we are focused on the concerns of senior citizens and their families, and long-term care is at the top of the list. In this post, we will look at five important facts that you should fully understand so you can take the necessary steps to prepare yourself. Most Seniors Will Need Living Assistance We all know that some elders reside in nursing homes, and there are those that receive the help that they need in their own places of residence. However, the probability … [Read more...] about 5 Key Facts About Long-Term Care
The responsibilities that you assume as you go through life will often shift, but if you are committed to your family, they will come in a steady succession. By the time your children are grown, you may find yourself providing assistance for your aging parents. As time goes on, they will invariably require more and more help. At some point, the level of need may exceed your capabilities, and long-term care can be the only answer. Assisted Living Costs If you have never thought about the … [Read more...] about Will Your Parents Need Long-Term Care?
As you go through life, you find that people that are in advantageous positions are the individuals that were able to see over the horizon. They take the right actions at the right times, and more often than not, they are rewarded when the future becomes the present. This is a dynamic that applies to long-term care and the costs that go along with it. Nobody wants to think about a time when they may not be able to handle their own day-to-day needs, but it happens to most of us. Seven out … [Read more...] about Overview of Medicaid Spouse Allowances
There is a very unique demographic phenomenon unfolding in the United States right now, and it will persist into the foreseeable future. During the postwar years between 1946 and 1964, an inordinate number of babies were born. This phenomenon has been dubbed the “baby boom,” and if you do the math, you can see that these people are attaining senior citizen status. This has created a very large pool of senior citizens. People are having their first children at later ages than they did a … [Read more...] about Are You a Member of the Sandwich Generation?
When you pay FICA or self-employment taxes, it can seem like the money is going into a black hole, but you are actually paying into Medicare and Social Security. Each year, you can earn as many as four retirement credits, and in 2020, you get one credit for every $1410 that you earn. After you have a total of 40 credits to your name, you will qualify for Medicare when you reach the age of 65. And even if you never worked, if your spouse has accumulated the 40 credits, you would qualify for … [Read more...] about Understand the Limitations of Medicare
When you are looking ahead toward your retirement years, you probably envision the good times that lie in wait. If you take the right steps along the way, you will have the resources to relax, enjoy leisure activities, and cross things off your bucket list. Without question, your golden years can be quite fruitful. A lot of people that understand the importance of retirement planning do not look over the horizon. The twilight years will inevitably follow these golden years, and there is an … [Read more...] about Living Assistance and the Medicaid Waiver
As elder law attorneys, we focus on the legal needs of the senior community. We help clients understand some of the eventualities that they may face during the latter stages of their lives. It is important to address some inconvenient truths that can be difficult to accept. Life Expectancy When you think about your senior years, you probably envision the period that will immediately follow your working career. At that point, you can travel, engage in leisure activities, and enjoy your spare … [Read more...] about Effective Planning in Light of Dementia Threat
Before we share an important detail of the CARES Act that you should understand if someone that you love is in a nursing home, we have to share some cold hard facts. You may think that it is unlikely that you will ever require nursing home care, but the statistics tell a different tale. Aging and Long-Term Care The United States Department of Health and Human Services maintains a very informative website called LongTermCare.gov. According to the site, 70 percent of seniors will someday need … [Read more...] about Nursing Home Residents Can Keep Stimulus Checks
Elder law attorneys focus on the legal needs of senior citizens, and unfortunately, the most pressing issues are quite challenging. It is best to confront them head on so that you are fully prepared for whatever comes your way in the future. With this in mind, let’s take a look at two inconvenient truths that everyone should fully understand. Elder Financial Abuse Senior citizens that are vulnerable are often victimized by elder financial abusers and fraudsters. This is a problem that has … [Read more...] about Elder Law Attorneys Confront Inconvenient Truths