Individuals who spend time in the armed services often undergo hardships, especially when they serve during times of war. Without question, serving your country involves sacrifices, but you do get certain rewards as a show of gratitude. Some of these are relevant to the elder law community. In addition to the retirement pension that veterans receive after 20 years of service, there is another pension that many people are unaware of that can really come in handy. This veterans benefit is called … [Read more...] about Military Service Has Its Benefits
Medicaid News Flash
If you are up on the state of affairs with regard to long-term care expenses, you may be surprised to hear that you could be faced with a stifling series of bills during the latter stages of your life. The costs associated with assisted living have become exorbitant, and if you combine the average length of stay with the average expenses involved you may be looking at an expense that exceeds $200,000. Medicare does not pay for long-term care, and you must consider this to budget intelligently. … [Read more...] about Medicaid News Flash
Senior Health: An Elder Law Concern
A responsible adult in the Ashland or Northern Kentucky area will want to get in touch with an Estate Planning attorney early in life to get an initial estate plan in place. You never know what the future holds, and in fact tens of thousands of adults die before they reach the age of 35 each and every year. A lot of these individuals have spouses and children, and when you consider where your family may be if your income were to suddenly vanish you can see why estate planning is important for … [Read more...] about Senior Health: An Elder Law Concern
Avoiding A Guardianship
When you are making preparations for the eventualities of aging it is important to plan for possible incapacity. If you were to become unable to make your own medical or financial decisions due to mental and/or physical incapacity, interested parties could petition the court to appoint a guardian or conservator to act on your behalf. You may have no say over who this guardian is, and if the guardianship or conservatorship is granted by the court, you could become a ward of the state. The good … [Read more...] about Avoiding A Guardianship
Long-Term Care Insurance
You have to work with a comprehensive overview when you are planning for the future. People who go forward with their heads in the sand hoping for the best often receive a rude awakening when certain contingencies present themselves. With this in mind you would be well-advised to apprise yourself of the costs associated with long-term care. These rising expenses are a major concern, particularly within the elder law community. Some 70% of senior citizens are going to need long-term care at some … [Read more...] about Long-Term Care Insurance
Federal Cost Cutting Can Impact Your Plan For Aging
One of the things that you should keep in mind when you are planning for the future is that everything is connected. Estate planning is by its very nature connected to retirement planning because your legacy is going to be impacted by your expenses and the overall financial decisions that you make after you retire. With this in mind, you have to get a handle on the expenses that you anticipate, evaluate your projected income, and create an intelligent, holistic plan for the future. To this end … [Read more...] about Federal Cost Cutting Can Impact Your Plan For Aging
Incapacity Planning Is Important
When individuals think about planning their legacies, they often equate it with the creation of a last will or perhaps a revocable living trust. Indeed, inventorying assets and preparing them for eventual transfer to your loved ones after your death is a big part of what legacy planning is all about. At the same time, there are some other things to take into consideration if you want to be prepared for the eventualities of aging. This is why estate planning attorneys often emphasize the value of … [Read more...] about Incapacity Planning Is Important
Medicaid May Be Targeted By “Super Committee”
One things to keep in mind when you are budgeting for your elder years is the high and ever-rising cost of long-term care. Unfortunately many people don't give it a lot of thought, and there are a couple of different reasons for this. First, some assume that Medicare will pick up all of their health care expenses once they reach the age of eligibility. The reality is that Medicare does not pay for long-term care. Another common misconception is that most people are not going to need long-term … [Read more...] about Medicaid May Be Targeted By “Super Committee”
CLASS Act on Hold
Last Friday, the Department of Health and Human Services announced that it does not plan to implement the Community Living Assistance Services and Support (CLASS) Act at the present time. The CLASS Act was intended to act as a federal insurance program for long-term care, particularly in nursing facilities. The enacting legislation requires HHS to determine that the program will be self-sustaining (that is, it will pay for itself) before going into effect. Because HHS was not convinced that … [Read more...] about CLASS Act on Hold
Elder Law Alert: Baby Boomers Unprepared
Elder law attorneys are well aware of the fact that the population is aging very rapidly at the present time, and this reality is starting to seep into the public consciousness as a whole. The generation known as the "baby boomers" is now starting to reach the age when people typically retire, and in fact huge numbers of people are applying for federal retirement benefits every day. This high number of applications is expected to continue for some 20 years, so there's a lot of interest by elder … [Read more...] about Elder Law Alert: Baby Boomers Unprepared
