Many seniors and their families don't use a lawyer to plan for long-term care or Medicaid, often because they're afraid of the cost. But an attorney can help you save money in the long run as well as make sure you are getting the best care for your loved one. Instead of taking steps based […]
It’s hard to believe it is already nearing the end of September. Just around the corner is Halloween, which starts the hustle and bustle of the holiday season. All of this also means that open enrollment for Medicare is almost here. The Medicare open enrollment period runs from October 15th through December 7th. During this […]
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
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 […]
