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 … [Read More]
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 … [Read More]
Aid and Attendance Veterans Pension Can Defray Long-Term Care Costs
The people that make sacrifices to serve in the United States military take risks, and they also receive certain rewards. One of them is a retirement pension for careerists that served for at least 20 years, but there is another pension benefit that flies under the radar. Aid and Attendance Pension Certain wartime veterans that … [Read More]
Medicaid Estate Recovery and the Child Caregiver Exemption
Elder law attorneys counsel clients that are preparing for the eventualities of aging, and long-term care is one of the concerns. The majority of seniors will need help with their daily needs, and more than one third will spend time in nursing facilities. Last year, the median annual charge for a private room in a … [Read More]
Genworth Survey: Hartford Long-Term Care Costs Increased in 2021
As elder law attorneys, we pay close attention to financial and legal matters that are specifically relevant to senior citizens. Long-term care costs are at the top of the list, because most seniors will eventually need help with their activities of daily living. Genworth Financial has been conducting surveys on an annual basis that provide … [Read More]
Updated Veterans Pension Rates for 2022
Veterans make sacrifices that other people do not, but they also qualify for some benefits that are only available to former servicemembers. One of them is the Veterans Pension, and in this post, we will share information about the new 2022 rates for the different classifications. Length of Service Requirements The Veterans Pension is not … [Read More]
Address Potential Nursing Home Costs in 2022
You probably put a lot of thought into your financial future with your retirement in mind. This is as it should be, but many people that are diligent overlook an expense that can have a devastating impact on your legacy. An Inconvenient Truth About Medicare It’s natural to assume that Medicare will take care of … [Read More]
Advocacy Groups to Congress: Abolish the Medicaid Estate Recovery Mandate
Most seniors will need living assistance at some point, and a significant percentage of elders will require nursing home care. If you are going to qualify for Medicare when you are 65, you may not be concerned about long-term care costs when you reach an advanced age. Medicare must cover nursing home care, right? It … [Read More]
Important 2022 Medicare Facts and Figures
When a new year approaches, the parameters of the government benefit programs for senior citizens are adjusted for the following year. We have recently shared information about the Social Security cost of living increase, and we will look at Medicare in this post. Part A Deductibles and Coinsurance Hospitalizations are covered through Medicare Part A. There … [Read More]
Key Facts About Medicaid Planning for Married Couples
If you earn a good living and you have always received health insurance coverage through your employer or an exchange, you would have no reason to understand the Medicaid guidelines. You know that you will be covered until you become eligible for Medicare when you are 65. This makes sense on the surface, but many … [Read More]
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