One of the most difficult decisions you may ever be faced with is choosing a nursing home for someone you love. Whether it is for a spouse, parent, or other loved one, knowing that nursing home care is necessary to keep them safe from harm and properly cared for doesn’t make the task much easier. Once the decision has been made, the next step is to choose the best facility. The process of choosing a nursing home can be emotionally and physically exhausting given that your loved one’s happiness … [Read more...] about How to Pick the Best Nursing Home
When you plan for your retirement years, have you taken into account the possibility that you will need to pay for long-term care? If not, you should. Given the high cost of nursing home care, many seniors turn to Medicaid to help cover those expenses. Qualifying for Medicaid, however, could threaten your retirement nest egg if you failed to plan ahead. For example, if you are one of the many people who is planning for retirement by funding an Individual Retirement Account (IRA), you need to … [Read more...] about Can Medicaid Take Your IRA?
Although the primary focus of your estate plan may be to ensure that your estate assets are distributed according to your wishes after you are gone, another important consideration in any well thought out estate plan is long-term care planning. The high cost of long-term care (LTC) in the United States makes planning ahead essential to protect your retirement nest egg. One way to do that is to purchase an LTC insurance policy; however, another is to incorporate a Medicaid planning component in … [Read more...] about Long-Term Care Insurance vs. Relying on Medicaid
Whether you are a senior yourself, or the caregiver of one, the subject of nursing home care has undoubtedly come up at some point. Statistics tell us that the longer we live, the higher our chance is of needing some type of long-term care services. Understandably, no one wants to move to a nursing home facility. The good news is that given the dramatic growth in the elderly population in the U.S. in recent decades, the healthcare industry has essentially been forced to offer alternatives to … [Read more...] about Hauppauge Nursing Home Lawyers Explain Alternatives to Nursing Home Care
Long Term Care Planning - What You Need to Know from Saul Kobrick Most private health insurance plans do not cover the costs associated with long-term care for any substantial length of time. And the Medicare program only covers long-term care costs under very limited circumstances, and then only for a very short period of time. Learn more about long term care planning in this presentation. … [Read more...] about Long Term Care Planning – What You Need to Know
One common addition to a comprehensive estate plan is long-term care planning. As the average life expectancy of an American inches closer and closer to the century mark, your odds of spending time in a long-term care facility during your golden years also increases. Without careful long-term care planning, your life’s savings can be wiped out in the blink of an eye. The good news is that by including long-term care planning strategies in your overall estate plan you can prevent the … [Read more...] about Free Report: Long-Term Care Planning in New York
When you sit down to create your comprehensive estate plan you will likely want to include far more than just a basic roadmap for the distribution of your estate assets after your death. Planning for the very likely possibility that you will need long-term care is something you may wish to consider adding to your estate plan. If so, one consideration is whether you need long-term care insurance. To make that decision you need to have at least a basic understanding of what long-term care … [Read more...] about Do You Need Long-Term Care Insurance?
There have been a number of new studies in recent years regarding end of life choices and advance care planning by Americans. In fact, The Conversation Project recently reported some surprising figures. A full 90 percent of Americans are very much aware of the importance of having these discussions with our loved ones; however, the surprising truth is that less than one third of Americans have actually acted on having those talks. Now, there are new reasons why each of us should rethink our … [Read more...] about Free Report: New York Advance Care Planning and End of Life Considerations
The recession might be over, but you might have a hard time convincing many seniors who are living in or right at the poverty rate. A new study completed days ago shows a less than pretty picture. The reality of long-term repercussions are alarming and the potential unexpected realities might give new meaning to estate planning and asset protection. If you're thinking this will affect your parents and grandparents, you're right – but make no mistake, this is sure to affect you, your children and … [Read more...] about Millions of Seniors Living in Poverty
Estate planning obviously involves preparing your financial assets for eventual distribution to your heirs after your passing. However, it is best to take a comprehensive approach and consider all the eventualities of aging when you are making preparations for the future. While some people do pass away suddenly or relatively suddenly many people experience a slow decline. This is especially true when you reach an advanced age, and more and more people are living into their mid-80s and beyond … [Read more...] about Assisted Living: You Have Options