When you start to reach an advanced age, you may find it difficult to take care of all your day-to-day needs. An assisted living facility may enter your mind when you think about the subject, but you probably do not want to leave the comfort and familiarity of your own home. This is fully understandable, and in this post, we will look at an approach that can be taken to address the situation. Medicare and Long-Term Care Costs Medicare is the source of health insurance for almost all senior … [Read more...] about CHCPE Can Provide In-Home Care Solution
nursing home asset protection
In this post, we will provide four questions for you to think about. When you come up with the answers, you will have a better idea of what your estate plan will look like when you take action. Are estate taxes going to be a concern? Most of the tax laws are favorable when it comes to asset transfers after someone passes away. If you receive insurance policy proceeds or an inheritance through the terms of a will, you would not be required to report the income when you file your … [Read more...] about Answer These Questions to Develop Your Estate Plan
Elder law attorneys focus on the eventualities that seniors may face, and many of the challenges stem from Alzheimer’s disease. Everyone has heard of it, but a lot of people are not aware of its widespread nature and the overall impact it has on society. Alzheimer’s Association Statistics The Alzheimer’s Association website is probably the best place to visit if you want to educate yourself about this horrible disease. According to their site, over 6 million Americans have contracted the … [Read more...] about How Common is Alzheimer’s Disease?
We are going to look at Medicaid and home ownership in this post. But before we focus on this subject, we will explain why Medicaid should be on your radar if you will qualify for Medicare. Long-Term Care Costs The United States Department of Health and Human Services tells us that 70 percent of seniors will require some type of living assistance eventually. Over 30 percent of the oldest old have Alzheimer’s disease, and elders with this condition often require nursing home care. When you … [Read more...] about Can You Qualify for Medicaid as a Homeowner?
The majority of American adults are going through life without estate plans, even though most people that reply to surveys say that planning is important. Since there is so much procrastination, there is a temptation to create your own estate plan to get it out of the way. This makes sense on the surface, and a lot of people roll up their sleeves to undertake DIY projects. However, you have to know where to draw the line, and you really shouldn’t take on some tasks that are better left to the … [Read more...] about Five Reasons You Need a Lawyer to Plan Your Estate
Before we take a look at the pros and cons of long-term care insurance, we should explain why it is relevant. Indeed, it is easy to be confused when you know you will qualify for Medicare as a senior citizen. Long-term care has to be covered, right? Whether it makes sense or not, the Medicare program simply does not cover the custodial care that nursing homes provide, and it does not pay for in-home care. Don’t Be Overconfident It is hard to imagine a time when you will need this level … [Read more...] about Should You Carry Long-Term Care Insurance?
People often make estate planning errors that yield negative consequences. In this post, we are going to look at three of these common mistakes in an effort to raise awareness. Do-It-Yourself Estate Planning The websites that sell generic, boilerplate legal documents contend that you can plan your own estate using their worksheets and downloads. This can seem like a simple, affordable solution, but there are reasons why you may want to consider before you go this route. There are various … [Read more...] about Avoid These Three Estate Planning Mistakes
One inconvenient truth that you have to accept when you are looking ahead toward your elder years is the matter of living assistance. According to the United States Department of Health and Human Services, 70 percent of seniors will need help with their activities of daily living. Granted, some people can get by with limited assistance from family members, neighbors, and friends for a while. As time goes on, the needs may will often increase until professional care is the only … [Read more...] about Medicaid Waiver Can Provide In-Home Care Solution
The majority of people do not have estate plans in place, but a survey that was conducted by Caring.com found that most of the same folks know that estate planning is important. Why do they fail to take action? There are various reasons including the simple fact that many of them don't know where to begin. With this in mind, let's look at the basic framework. Legacy Preservation The first aspect of the process may come as somewhat of a surprise. Before you start to think about how the … [Read more...] about Estate Planning: Where Do You Begin?
Elder law attorneys assist clients that are concerned about legal and financial matters that senior citizens often face. There are a number of different issues that we deal with, but the matter of long-term care is definitely at the top of the list. You may assume that the Medicare program will pay for a stay in a nursing home if you ever need this level of assistance with your day-to-day needs. In reality, Medicare will not pay for the custodial care that nursing homes provide. This is … [Read more...] about Brace Yourself for Long-Term Care Costs