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?
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
If you have never looked into the subject of long-term care and the costs that go along with it, you are about to obtain some very important information. In this blog post, we will explain why Medicaid planning is something that should definitely be on your radar. Limitations of Medicare If you work and pay taxes for at least 10 years, or if your spouse has done this, you will qualify for Medicare when you reach the age of 65 under currently existing laws. This health insurance program for … [Read more...] about Recognize the Importance of Medicaid Planning
Everyone is aware of the need for retirement planning, and you can enjoy your golden years to the fullest if you take the right steps to build a sufficient financial underpinning. You can spend quality time with your family and friends, travel, enjoy leisure activities, and simply cross things off your bucket list. This can be one of the best periods of your life, but you should also consider the twilight years that will follow. When you reach the age of 67, your life expectancy is at … [Read more...] about Nursing Home Costs Can Erase Your Legacy
Before we get to the question that serves as the title of this post, we have to provide some background information for the uninitiated. You may wonder why Medicaid is relevant to senior citizens when most elders will qualify for Medicare. It is true that both programs are government run health insurance programs, and they do cover many of the same things. There is however a huge difference that will explain a lot. Medicare will not pay for custodial care. This is the type of care that you … [Read more...] about Can You Give Away Asset to Qualify for Medicaid?
When you are looking ahead toward your retirement years, you may focus on the initial stage, when all the fruits of your labor can be harvested. You can enjoy leisure activities, spend time with family members and friends, and cross things off your bucket list. This stage of your life can certainly be very special, but it is also important to consider the twilight years that will follow. The Next Plateau As time goes on and the years pass, you may start to feel a lot less energetic than you … [Read more...] about Genworth Unveils 2019 Long-Term Care Costs
Medicaid and Long-Term Care Planning can be very confusing because of the extensive system of rules in place. To understand the significance of the question that we are focusing on here, some background information in helpful. The majority of people over the age of 65 will need living assistance eventually, and nearly 4 out of every 10 American senior citizens will someday reside in nursing homes. Additionally, the life expectancy for a 67-year-old man is 85 years, and that figure is 87 for a … [Read more...] about Does Medicaid Count Assets in a Living Trust?
Before we get to the specific focus of this pointed post, we have to provide some background information so you know why any of this should matter to you. If you have never been financially needy, and you will qualify for Medicare when you reach the age of 65, you may wonder why Medicaid is relevant to you in any way. After all, you will already have health insurance, and you wouldn’t qualify for the program anyway, because you are going to retire with a sufficient store of financial … [Read more...] about A Look at Medicaid Community Spouse Provisions
You are probably aware of the fact that Medicaid is a government health insurance program that is in place to provide a safety net for individuals that have little to no financial resources. A lot of people that have worked all their lives while saving for retirement wonder why this program would ever be relevant to them. If you are confused on this score, you should certainly understand some facts about nursing home care and the costs that go along with it. If you work for at least 10 … [Read more...] about Albany Medicaid Planning: All Assets Do Not Count
Medicare will not pay for long-term care, but Medicaid will assist with these costs. Medicaid planning is important for many seniors, because long-term care is very expensive. This is something to take into consideration when you are looking ahead toward your elder years. Sometimes you can oversimplify things and wind up with a blind spot. If you have always been healthy, and you make good lifestyle choices, you may assume that you will never be in need of living assistance. However, there … [Read more...] about Why Would Medicaid Planning Be Important If I’m Healthy?