As elder law attorneys, we counsel clients that are concerned about legal and financial matters that they may face as seniors. Without question, long-term care is at the top of the list. Medicaid is relevant to this subject, and we will explain the Medicaid look back provision in this post. Long-Term Care and Medicare To understand why Medicaid should be on your radar, you have to digest some background information. It is natural to assume that Medicare would pay for a stay in a nursing home, … [Read more...] about What Is the Medicaid Look Back Provision?
Elder Law
How Do I Avoid Medicaid Estate Recovery in Connecticut?
A lot of people have questions about Medicaid estate recovery in Connecticut, and we are going to answer them in this post. When you fully understand the dynamic, you will recognize the need for nursing home asset protection. Long-Term Care In order to grasp the relevance of Medicaid for seniors, you have to digest some facts about living assistance. The United States Department of Health and Human Services tells us that 70 percent of seniors will need long-term care eventually. Over half … [Read more...] about How Do I Avoid Medicaid Estate Recovery in Connecticut?
Are You Prepared for Life as an Octogenarian?
As elder law attorneys, we help people prepare for the eventualities of aging. Without question, it can be difficult to envision the way you will feel when you are in your 80s. At the same time, the average lifespan for someone that is 67 is the middle 80s, so this is a life stage that you will probably experience. Alzheimer’s Disease Among the Oldest Old The Alzheimer’s Association does a lot of great work educating the public about this disease, and they also offer hands-on resources for … [Read more...] about Are You Prepared for Life as an Octogenarian?
Senior Veterans May Qualify for Special Pension
Many people that have served in the United States military make considerable sacrifices. At the same time, they are rewarded with some solid benefits. One of them is the retirement pension that is available after 20 years of service, and there is another pension that flies under the radar. Military Pension for Wartime Veterans This pension is simply called the Veterans Pension; the “retirement” qualifier is reserved for the long-term service benefit. In fact, the length of service requirement … [Read more...] about Senior Veterans May Qualify for Special Pension
Medicaid Planning: Can a Healthy Spouse Keep the Beneficiary’s Income?
We are going to look at a specific aspect of the Medicaid guidelines for married seniors that require nursing home care. In order to understand the implications, you have to absorb some background information about the subject, so we will start there. Long-Term Care and Medicare Since Medicare is the health insurance program that almost all seniors rely on, it is natural to assume that it would cover a stay in a nursing home. After all, seniors are the people that require nursing care. Why … [Read more...] about Medicaid Planning: Can a Healthy Spouse Keep the Beneficiary’s Income?
Life Care Planning, Aging in Place, and the Medicaid Waiver
Far too many people do not seriously think about the adjustments that they will have to make when they become senior citizens. At first, you may be able to manage all of your own daily activities, but things can change over the years. Once you are 67, your life expectancy is 87 years if you are woman, and it is 85 years for a man. Clearly, mobility can start to become more and more difficult as you reach advanced ages. According to the United States Department of Health and Human Services, … [Read more...] about Life Care Planning, Aging in Place, and the Medicaid Waiver
Should Senior Citizens Have Long-Term Care Insurance?
A lot of people receive a rude awakening when they learn about living assistance. The first surprise is the fact that 52 percent of seniors will need professional long-term care. Over one-third will reside in nursing facilities, and Medicare does not cover custodial care. Assisted Living Costs According to the state of Connecticut, the average cost for a month in a nursing home is $13,863. A married couple may incur two different sets of bills, and more than 50 percent of people that need paid … [Read more...] about Should Senior Citizens Have Long-Term Care Insurance?
Five Long-Term Care Concerns That Have Emerged in 2022
More and more people are attaining senior citizen status because of the maturation of the baby boomers. This year, a clear picture is emerging about the major challenge that these people are facing. Long-term care is looming, it is widely misunderstood, and now is the time to get a grip on it. Aging Changes the Playing Field It is hard to imagine a time when you will not be able to handle your day-to-day needs. However, it is safe to say that people that are currently receiving living … [Read more...] about Five Long-Term Care Concerns That Have Emerged in 2022
This Mistake Can Devastate Your Legacy
When you have been planning for retirement and it is coming into focus, you may have a pretty good idea of what you will be able to leave to your loved ones. You have anticipated your retirement budget, and you have considered contingencies, so you feel comfortable. Of course, there are those that have not planned exhaustively, but they expect to be able to pass along suitable legacies. Unfortunately, we have found that there is one expense that a lot of people overlook, and it can have a … [Read more...] about This Mistake Can Devastate Your Legacy
Nursing Home Costs Can Consume Your Legacy
As estate planning lawyers, we help people facilitate effective postmortem asset transfers, but there is another financial element. You have to preserve your wealth to protect your legacy, and there is a looming threat to it in the form of long-term care costs. Aging and Living Assistance It is easy to think that statistics do not apply to you personally, but many people that make up the statistics felt the same way. This definitely applies to living assistance when you are a senior … [Read more...] about Nursing Home Costs Can Consume Your Legacy
