Alzheimer’s disease affects far too many families, and the impact is felt on a number of different levels. In this post, we will share some key facts that will open your eyes if you have not explored the subject. Facts and Figures Everyone knows that Alzheimer’s causes dementia, but aside from the memory loss, there is another aspect that flies under the radar. If you were to name the diseases that kill the most people in the United States, breast cancer and prostate cancer may come to … [Read more...] about Alzheimer’s Is a Looming Threat
nursing home asset protection
Consider These Five Estate Planning Questions
According to a recent survey, most people without estate plans think that it is important, and they know they should take action. Many of them procrastinate because they don’t know how to proceed. With this in mind, let’s look at five questions you can consider to jumpstart your estate planning efforts. Are you concerned about the money management capabilities of your heirs? It can be disconcerting to leave a significant inheritance to someone that is inexperienced or irresponsible with … [Read more...] about Consider These Five Estate Planning Questions
Medicaid Planning: Update Figures for 2021
As elder law attorneys, we advise clients that are concerned about potential long-term care costs. The majority of elders will need help with their activities of daily living, and a significant percentage of them will require paid care. You can expect to pay over $125,000 for a year in a nursing home in the Burlington, Vermont area, and you are look at almost $70,000 for a professional home-health aide. Almost all seniors qualify for Medicare coverage, and it is a solid source of health … [Read more...] about Medicaid Planning: Update Figures for 2021
Genworth Releases 2020 Cost of Long-Term Care Survey
When people think about retirement planning, they typically focus on the golden years that can be full of travel, leisure activities, and quality time with family members and friends. This is as it should be, and if all goes well, you can enjoy the fruits of your labor during this stage of your life. At the same time, it is important to address the twilight years that will inevitably follow. Most people will need help with their activities of daily living eventually, and 35 percent of seniors … [Read more...] about Genworth Releases 2020 Cost of Long-Term Care Survey
Medicaid Spouse Allowances Will Rise in 2021
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
5 Key Facts About Long-Term Care
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
Legacy Planning Is an Expression of Gratitude
Thanksgiving symbolizes the feeling of gratitude, and aside from the traditional get-togethers, people use the occasion to show that they are grateful in various different ways. Gift giving is a profound expression of gratitude, and if you are going through life without an estate plan, you may want to use the holiday as motivation. Passing Along Your Legacy When you initiate the estate planning process, you should create an inheritance list and think about the best way to provide for each … [Read more...] about Legacy Planning Is an Expression of Gratitude
Estate Planning Demystified
Most people in the United States do not have estate plans in place, and the lack of preparedness is not confined to very young adults. Less than half of people that are in their 40s and 50s have estate plans, and there are different reasons for their inaction. One of them is the simple fact that they don’t know where to begin, even though they acknowledge the fact that estate planning is important. In this post, we will share the basics. Create a General Outline Before you start to dig into … [Read more...] about Estate Planning Demystified
Will Your Parents Need 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?
Address These Sources of Inheritance Erosion
When you plan your estate, you make decisions about the inheritances that you will be leaving to your loved ones. At the same time, you have some control over the size of the pie that will be sliced up after your passing. There are some looming threats that can impact your legacy, and we will take a look at some of them in this post. Elder Financial Abuse It is a very sad phenomenon to say the least, but unfortunately, elder financial abuse is widespread. This subject started to draw … [Read more...] about Address These Sources of Inheritance Erosion
