Since the advent of the coronavirus pandemic, advocating for your loved one in a nursing home has become more critical and complex than ever. Both residents and staff in nursing homes and other long-term care facilities are disproportionately affected by COVID-19 outbreaks. In fact, during the first year of the pandemic, the Kaiser Family Foundation …
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Medicaid Gifts and Penalties
Medicaid is a federal/state program helping low-income seniors with limited income and assets afford healthcare and long-term care. Many seniors believe their only option to qualify for the program is to “spend down” their assets. While this is true in some cases, proactive Medicaid planning can protect a substantial portion of your assets if done …
Nursing Homes and Rehab Facilities: Eyes-On is Essential
A recent New York Times report reveals that government oversight of long-term care facilities is deeply troubled. Inspection of rehabilitation facilities is inadequate, and we, the public, had best not rely on reporting inspection results. If your loved one needs more care than can be provided at home and trying to find a facility, be …
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Paying for long-term care
According to findings, the US Department of Health and Human Services (HHS) cites that almost seventy percent of retirees in America will need some long-term care (LTC), with median annual costs for these services ranging from $53,768 to $105,850 in 2020, according to research from Genworth. HHS also reports that those who receive Medicaid-financed nursing …
In these times of uncertainty, estate planning is more important than ever
The truth is none of us know the future. Significant uncertainty abounds as to the outcomes of US tax legislation proposals. Estate and gift tax exemptions may get cut in half or not, and whatever happens will likely affect all deaths and transfers of wealth after December 31, 2021. Whatever the outcome, there are still ways to legally reduce your …
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Five ways people make mistakes in their estate plans
You spend the first half of your adult life trying to achieve financial security and the second half of your life trying to maintain it. This adage is why many people spend substantial time and effort maximizing their legacy goals in their estate plan, ensuring their wishes come to pass. Your life’s work and ability to provide for your family provide a gratifying feeling for you and your heirs. However, your careful planning can go awry when last-minute …
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Don’t let a family feud turn into a legal feud
The drama, the cost, the lost time, the broken relationships – there are so many ways that family problems about end-of-life care for a parent and inheritance can have serious repercussions when these problems reach the status of a legal filing and court case. You can take steps moving beyond the possibility this might happen and create (or amend) your estate plan seeking to diffuse these potential issues before they become legal challenges. Every situation is …
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Creditors and Probate
Avoiding probate through legal techniques is a great strategy to save taxes, keep your estate from public proceedings, and avoid the need for court approval every step of the way. It can save you time, frustration, and in many cases, significant attorney and court fees. Your personal representative sometimes referred to as an executor, must formally notify all your creditors of your death. This action …
Why do you need an elder law attorney sooner than later
Whether you have an older adult loved one in your life or you have concerns about the health and financial welfare of the future, an elder law attorney can optimize your planning. Elder law is a highly specialized area of law focusing on the legal needs of older adults encompassing more significant issues like long-term health care …
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The sandwich generation is growing, here is how to plan
Anyone experiencing the struggle of simultaneously caring for children and aging parents is part of the sandwich generation. Although generation is part of the phrase, it does not refer to people born at a specific time. Typically, these “sandwich” family caregivers will be in the thirty to forty-year-old age range and balancing duties to provide for their families and provide care duties …
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