One of the most troubling issues that we are forced to face as elder law attorneys is the matter of financial exploitation of senior citizens. This problem started to come to light back in 2011 when the MetLife Mature Market Institute published an influential study. They were joined by Virginia Tech University and the National Committee for the Prevention of Elder Abuse, and they reached some eye-opening conclusions. At that time, they estimated that instances of financial fraud and … [Read more...] about Elder Financial Exploitation Is All Too Common
Many families experience role reversals at some point in time. You may find that your parents need your assistance when they start to reach an advanced age, and the level of help that is needed may slowly increase. When the demands become significant, you may be incapable of meeting them on your own. This is something that many people experience, and under these circumstances, professional assistance will be needed. Assisted Living Costs The first thing to understand about assisted living … [Read more...] about Will Your Parents Need Nursing Home Care?
Medicaid is an important part of the elder law equation because it covers the custodial care that nursing homes provide, and Medicare will not pay for long-term care. Most seniors will need help with their activities of daily living, and 35 percent of elders will eventually reside in nursing homes. These facilities come with some hefty price tags so it is impossible for most people to pay for them out of pocket comfortably. Qualifying for Medicaid Since Medicaid is only available to … [Read more...] about Medicaid Allowances for Spouse and Caregiver Child
People who serve in the United States armed forces have access to certain benefits, including a retirement pension that becomes available after 20 years of service. There are different guidelines depending on the era, and some veterans have multiple options. In all cases, the amount of the pension that will increase when a service member stays in uniform for more than the minimum 20 years. Military service can definitely lead to a comfortable retirement. A veteran can combine Social … [Read more...] about VA Benefit Can Defray Assisted Living Costs
The biggest elder law issue at the present time is the matter of long-term care and the costs that go along with it. Medicare does not pay for living assistance, and the vast majority of seniors will need some form of long-term care. In fact, more than one third of seniors will eventually reside in nursing homes. Medicaid is another government health insurance program that does pay for living assistance. Most people in nursing homes are enrolled in the Medicaid program, and a high percentage … [Read more...] about Five Things You Need to Know About Medicaid Planning
Retirement planning can seem like it is completely focused on the active years that you will be able to enjoy shortly after you put your working years behind you. This is certainly an important consideration, and your golden years can be quite satisfying if you are properly prepared for them. At the same time, it is wise to budget for the years that will follow when you are not as capable as you once were. The United States Department of Health and Human Services tells us that seven out of … [Read more...] about Don’t Assume You Will Never Need Long-Term Care
As elder law attorneys, we keep a finger on the pulse of matters that impact senior citizens in ways that can be addressed through the proper planning. Everyone has heard of Alzheimer’s disease in a general sense, but you should understand the relevant facts when you are looking ahead toward your senior years. Life Expectancy You may have heard that the life expectancy for all Americans is about 78 years. This includes people that pass away at all ages, but it goes up when you are talking … [Read more...] about Alzheimer’s Can Yield Financial Consequences
Before we share some important practical information, we should explain some facts about long-term care and Medicaid for people that are not apprised of the dynamic. Most senior citizens will eventually need help with their activities of daily living. According to the United States Department of Health and Human Services, 35 percent of elders eventually reside in nursing homes. While the vast majority of senior citizens qualify for Medicare, this is not the solution. The Medicare program … [Read more...] about Nursing Homes Can’t Take Stimulus Checks
If your parents are starting to get up there in years, you may want to have a discussion about living assistance. We are not talking about obvious situations that are going to naturally spawn the need for action right away. The suggestion is to set the stage early on so that everyone is on the same page before the need for care actually arises. In many cases, an elder will not want to be an imposition so a parent who needs your help may be reluctant to ask when the time comes. As an adult … [Read more...] about Discuss Living Assistance With Aging Parents
The Social Security program is extremely important to a significant percentage of American senior citizens. However, you should certainly recognize the limitations because benefits are often quite modest. At the same time, the income will help. You may hear that you could start to collect a monthly Social Security benefit when you are 62 years of age. This is true, assuming you paid into the program sufficiently during your working career. The FICA or self-employment taxes that you pay go … [Read more...] about When Do You Qualify for Social Security?