Elder law is an area of legal practice that specializes on issues that affect the aging population. The purpose of elder law planning is to prepare the elderly person for financial freedom and autonomy through proper financial planning and long-term care options. (Wikipedia) Elder law attorneys are advocates for the elderly and their loved ones. […]
Before applying for Medicaid, you want to make sure you qualify. As we have mentioned in the past, there are several rules that come into play when dealing with Medicaid and one of them is your income and assets. To qualify, you can have no more than $2,400 in countable assets. One thing individuals may […]
If you haven’t filed your taxes yet, you may be able to add another tax deduction! The IRS announced that you can include what you spent on face masks, sanitizer, sanitizing wipes and any other products to help prevent the spread of the coronavirus as a medical expense. You’ll want to make sure you have […]
When thinking about the future there is quite a bit to consider. One of those is what you’re going to do if you can’t stay in your house as you get older. If you would need to end up in a nursing home, keep in mind that long-term care is very expensive. In many instances, […]
Long-term care costs can add up quickly. For veterans and the surviving spouses of veterans who need in-home care or are in a nursing home, help may be available. The Veterans Administration (VA) has an underused pension benefit called Aid and Attendance that provides money to those who need assistance performing everyday tasks. Even veterans […]
The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff penalty. If you have a tax-deferred retirement plan such as a traditional IRA or 401(k), you […]
The centerpiece of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, is its one-time $1,200 payments to millions of eligible individuals. When can you expect your payment and how much will it be? The answer to the first question has been changing on an almost daily […]
The spread of the coronavirus to nursing home residents has caused the federal government to direct nursing homes to restrict visitor access, and many assisted living facilities have done the same. While the move helps the residents stay healthy, it can also lead to social isolation and depression. Families are having to find new ways […]
