A lot of people are not aware of just how much a stay in a nursing home costs and they don't especially care, and this is often for one of two reasons. There are always going to be individuals who feel as though they will avoid all challenging circumstance, reasoning that these types of things only happen to "other people." And there are those who mistakenly assume that Medicare will cover everything once they reach the age of 65. The reality is that Medicare does not cover … [Read more...] about Medicaid: What Can Healthy Spouse Retain?
Elder Law
Have You Considered Long-Term Care Costs?
Elder law attorneys must pay close attention to all of the issues of the day that impact senior citizens, and one of the most challenging among them is the matter of long-term care and the expenses involved. The United States Department of Health and Human Services estimates that approximately 7 out of every 10 people who reach the age of 65 will need some form of long-term care at some point in their lives, and this includes in-home care. So those who want to say "this will never … [Read more...] about Have You Considered Long-Term Care Costs?
Gifts & Medicaid Eligibility
The costs associated with long-term care are extremely high and rising, and this is something you really have to take into consideration when you are planning for the future. In 2010, it cost nearly $40,000 to spend a year in an assisted-living facility on average in the United States, and the charge for a single room in a nursing home averaged over $83,500. The average stay for someone who resides in a nursing home is about 2-1/2 years. These numbers are clearly … [Read more...] about Gifts & Medicaid Eligibility
Social Security, Medicare Face Strain
If you have followed the news over the last several months it's no secret that there are a lot of concerns about the federal budget deficit. Since the political climate in Washington shifted after the midterm elections there is more serious resolve about slashing federal spending. And when you look for the most significant outlays of money you can't help but notice that a large portion of the federal budget is consumed by entitlement programs for senior citizens. According to the … [Read more...] about Social Security, Medicare Face Strain
Protect Yourself With Appropriate Powers Of Attorney
Elder law involves all of the legal issues that impact our nation's senior citizens, and it is a rapidly expanding field due to the fact that the population in the United States is aging considerably. Senior citizens are the fastest-growing age group in the country, and the oldest old, people who are at least 85, are the demographic subset that is growing fastest of all. People are living longer than ever and this is creating the need for some very specific forms of end-of-life planning, … [Read more...] about Protect Yourself With Appropriate Powers Of Attorney
Incapacity Planning: Must-Have Documents
When you are interested in planning your estate, you can't help but think about the period of time that will precede the trigger event, and of course this is as it should be if you want to make comprehensive plans. You may have very specific goals that you want to accomplish with your legacy, and how well you plan for the latter stages of your life will have a significant impact on what it is that you have to leave behind to your loved ones. When you have the larger picture in mind … [Read more...] about Incapacity Planning: Must-Have Documents
Proactive Approach To Health Care Costs
In a perfect world everyone would be able to set aside adequate resources to handle any and all expenses that may come their way throughout their lives while they make estate plans with a separate block of untouchable assets. In fact, you hear a lot of people speak about estate planning as if the above scenario is the rule rather than the exception, but in reality this is not the case, even for people who have been quite successful throughout their lives. There is a very wide range of … [Read more...] about Proactive Approach To Health Care Costs
Estate Planning & The Realities Of Alzheimer's Disease
On the surface estate planning may seen like a pretty cut and dried matter. You make an appointment and spend some time with an estate planning lawyer, draw up a will or a trust, and that's it, end of story. This can can be the way you go about it, but if you want to be sure that you are truly prepared for all of the eventualities of aging, you would do well to take a more comprehensive approach. Ii is human nature to assume that the state of consciousness that you are in at any given … [Read more...] about Estate Planning & The Realities Of Alzheimer's Disease
Long Term Care Assistance For Veterans
When you practice in the field of elder law, part of your responsibility is to keep your finger on the pulse of all of the relevant trends as they are unfolding. As estate planning professionals that action word, "planning," requires the use of long term projections. You cannot know with full certainty what the costs will be for essential services in the future. In addition, you have no way of knowing what the state of the economy will be like in twenty years, how the tax laws … [Read more...] about Long Term Care Assistance For Veterans
Long Term Care Costs: Planning Required
Estate planning is usually seen as something that involves the distribution of your assets after your death, and rightly so. But the totality of the matter blends into the period of your life that precedes your passing. Why is this? To put it bluntly, if you don't have anything left when you die any planning that you may have done regarding inheritances is not going to have a whole lot of value. Obviously there are those who have sufficient assets to easily handle any and … [Read more...] about Long Term Care Costs: Planning Required
