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
VA Benefit Can Defray Assisted Living Costs
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
Five Things You Need to Know About Medicaid Planning
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
Don’t Assume You Will Never Need Long-Term Care
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
Alzheimer’s Can Yield Financial Consequences
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
Nursing Homes Can’t Take Stimulus Checks
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
Discuss Living Assistance With Aging Parents
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
When Do You Qualify for Social Security?
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?
Charlotte Long-Term Care Costs Are on the Rise
As elder law attorneys, we focus on legal and financial issues that are of interest to senior citizens. There are a number of them on the table at the present time, and the matter of long-term care is at the top of the list. If you are assuming that you will always be able to get by, even if you need some help from family members, you should understand the facts. Longevity statistics can help you understand the risks, even though they are not very pleasant to contemplate. Once you reach … [Read more...] about Charlotte Long-Term Care Costs Are on the Rise
Adult Guardianship Can Be Avoided
Estate planning is often thought of as a monetary endeavor, and this is a large part of the equation. At the same time, a comprehensive plan will take the eventualities of aging into consideration. With this in mind, we will look at the value of incapacity planning in this post. Understanding Alzheimer’s Disease We all know that Alzheimer’s disease can strike senior citizens. But when you look at the facts, the numbers are rather surprising--and not in a good way. More than 10 percent of … [Read more...] about Adult Guardianship Can Be Avoided
