Tag: Long Term Care
“A strong long-term care plan spells out where you would like to live, how you plan to get around, and who will oversee your financial and health decisions when you’re incapacitated.” Starting to plan for elder care should happen when you are in your 50s or 60s. By the time you are 70, it may […]
“It’s a common occurrence. Far flung family members return home to visit elderly relatives for the holidays. Upon arrival, they notice that things seem … off. A look in the refrigerator finds expired foods and an elderly relative is asking the same questions repeatedly. The same person who would never let you walk into the […]
“Sometimes it can be wise (or just pleasurable) to give your assets away, while you’re still alive.” Traditionally, giving assets away while still living was done in an effort to minimize tax liability at death. However, with the federal tax exemption amount at $11.4 million and growing each year with inflation indexing, federal estate taxes […]
How to plan for the legal issues and expenses of nursing home care. Some of the truths may be hard to hear but can still be beneficial to know about, as myths about nursing home expenses are discussed in The Sentinel article “Five myths about nursing home costs and estate planning“. Myth One: Before any […]
Signing up for retirement isn’t simple, because you have many options. There are many options when it comes to retirement, so it can be helpful to seek professional advice before making decisions that can’t easily be reversed, according to the Cleveland Jewish News in “Professionals can ease a person into retirement“. A good place to […]
The estate plan is a major tool to protect your family. Okay, you now have an estate plan. What’s the biggest mistake you can make? Not updating the plan as the years go by and life changes occur, according to the Times Herald in “Top six estate planning mistakes“. Another big mistake would be to […]
Laws vary from state to state, so it would be wise to consult with an estate planning attorney on where you stand legally. Many people who retire prefer to reside in a warmer climate in the winter if they reside in a colder climate the rest of the year. However, before they head south, it […]
Cost of nursing home care continued to rise in 2016 but at slower pace than past years. The Genworth study for 2016 has some positive news but also some bad news as Elder Law Answers reports in “Nursing Home Care Costs Are Only Slightly Higher in 2016.” And, while nursing home costs are higher in […]
A report with recommendations has been issued by a group of experts on the long-term care policies in the U.S. A report on the financing of long-term nursing home care has come at a time when the aging population in the U.S. needs even longer stays in nursing homes and the question continues on how […]
There is an issue that is not being discussed by presidential candidates, and that issue is the inability of many elderly and their families in the U.S. to pay for long term care. People are living longer lives resulting in more people in need of long term care in a nursing home or in-home assistance. […]
