A lot of people are amazed when they find out how expensive long-term care is these days. If you calculate the average annual cost for a private room in a nursing home coupled with the average length of stay the reality is that you may be looking at an expense that exceeds $200,000 toward the end of your life. This is obviously going to be difficult for a lot of people to handle out-of-pocket, and Medicare does not pay for long-term care. An alternative that exists would be to … [Read more...] about Community Spouse Medicaid Resource Limit Increased
Elder Law
Cuts To Medicaid May Be In The Offing
Many people have no idea how much long-term care costs or how likely it is that they're going to need it. This is a matter that is swept under the carpet because for one thing many individuals simply don't want to go there mentally, and when you're elder years are a long way off the subject may not seem relevant. But in reality it is a matter that you may want to take into consideration as soon as possible, because the expenses are considerable, most people will need care, and … [Read more...] about Cuts To Medicaid May Be In The Offing
Living Wills Are Important Too
When you ask the typical person on the street about estate planning he or she may well tell you that the exercise is all about drawing up a last will to direct distribution of your assets after you pass away. Everyone is aware of the last will, and it is indeed the most commonly utilized vehicle of asset transfer in the field of estate planning. But there are other ways to transfer assets to your loved ones, and the last will is not always the best choice. And beyond this, there … [Read more...] about Living Wills Are Important Too
Incapacity Planning Is Key
Aging is a natural part of life, and to be frank there are some eventualities that go along with it that are not entirely pleasant. To mitigate the negative impact of the potential challenges that exist you need to plan carefully in advance. Doing this involves educating yourself and gaining an understanding of what may lie in wait so that you can take appropriate action to make sure that you are prepared. Incapacity strikes many people who reach an advanced age. Sometimes … [Read more...] about Incapacity Planning Is Key
Elder Financial Abuse In The Digital Age
You are probably aware of the fact that many people who reach an advanced age become somewhat isolated. It is also not uncommon for elders to experience reduced mental capacity. These two factors help to make seniors targets of those who would seek to take advantage of them for financial gain. A lot of elders need assistance of one type or another with their day-to-day living needs, so family members, friends, or neighbors often pitch in. This is usually fine, but there are … [Read more...] about Elder Financial Abuse In The Digital Age
Medicaid Spend Down And Look-Back Back Period
A lot of people do not concern themselves with budgeting for potential long-term care costs because they're under the impression that Medicare will cover these expenses. In reality, Medicare does not pay for an extended stay in a nursing home or assisted living facility. And if you're thinking that it will be simple to adjust to these expenses should they arise, you may not be aware of the present state of long-term care costs. Every year the MetLife Mature Market Institute culls … [Read more...] about Medicaid Spend Down And Look-Back Back Period
Guardianship And Conservatorship Considered
It is important to know under which conditions guardianship and/or conservatorship responsibilities will apply and what the procedure is in order for the rulings to be made. Guardianship can apply to anyone who is considered by the courts to be disabled in a way that makes them unable to take responsible actions or to those who are minors and therefore need the assistance guardianship and conservatorship will offer. Some states combine the duties within the designation of guardian, but … [Read more...] about Guardianship And Conservatorship Considered
Elder Financial Abuse Taking A Toll
There are some things that you hear about that are so underhanded it really makes your blood boil, and it would probably be safe to say that elder financial abuse would fall into this category. The thought of someone specifically targeting a senior citizen is really horrible, but the reality is that this is a big problem in our society today and it is something to be aware of. According to the United States Department of Justice one out of every nine Americans who is at least sixty … [Read more...] about Elder Financial Abuse Taking A Toll
A Look At Supplemental Security Income
Elder law attorneys place an emphasis on all legal matters that impact senior citizens, and when you are planning for the future it is important to be aware of all of the resources that may be available to you. When you think about government programs for senior citizens the first thing that is going to come to mind is Social Security. In order to be able to collect Social Security benefits you must have contributed a sufficient amount into the system during the years that you were … [Read more...] about A Look At Supplemental Security Income
Elder Law Considerations
When you are in the process of planning your estate you are very likely to see a bigger picture. Retirement planning, making preparations for your twilight years, and estate planning all walk hand-in-hand. This is why it is a good idea to identify an estate planning attorney that has a wide focus early on to help you chart a course for the future that addresses all of the eventualities of aging. If you set goals and work toward them over a number of years you will be able to enjoy … [Read more...] about Elder Law Considerations
