When you hear the term "nursing home asset protection," you may get a quizzical look on your face. Why would you need to protect your assets from a nursing home when you are going to qualify for Medicare as a senior citizen? It would be logical to assume that Medicare will pay for long-term care since it is a health-related expense that most seniors will incur. In fact, whether it makes sense or not, Medicare does not pay for long-term care. The program will pay for convalescent care for a … [Read more...] about What Is Nursing Home Asset Protection?
Report: Expect Charlotte Nursing Home Costs to Rise
When you find out about how much something costs, and the number is pretty high, it can be attention-getting. However, the matter gets worse if the item or service that you are researching is going to get more and more expensive as the days pass. This is something that applies to nursing home costs. Before we get into the details, we should explain why nursing home costs are relevant to you and your family. A New Era Over the years, medical science has improved dramatically, and there are many … [Read more...] about Report: Expect Charlotte Nursing Home Costs to Rise
Discuss Your Future With an Elder Law Attorney
We live during a very interesting period of our history with regard to age demographics. The baby boomer generation is getting older, and because there were so many people born between 1946 and 1964, there is an unprecedented aging of the population underway at the present time. There are approximately 10,000 people applying for Social Security each and every day, and the Social Security Administration expects this volume to persist into the foreseeable future. If you are a baby boomer who … [Read more...] about Discuss Your Future With an Elder Law Attorney
Medicaid Planning Can Preserve Your Legacy
Your legacy is something that you should carefully craft when you are devising a plan for aging. You probably have certain things that you would like to be able to do for the people that you love. If you take the right steps, you can enjoy a comfortable retirement as you preserve resources to pass along to your family members. Medicaid planning will often be part of the equation. Nursing Home Costs You may naturally wonder why you should be concerned about Medicaid at all. If you know you're … [Read more...] about Medicaid Planning Can Preserve Your Legacy
Medicare Coverage: Understand the Gaps
You have to envision the way that one thing leads to another when you are putting your long-term financial plan together. Developing a nest egg to finance your active retirement years is part of the equation, but you should consider the next period of life as well, and your legacy goals should also be addressed. Health care expenses are something that you should anticipate when you are looking ahead toward the future. Most people will qualify for Medicare coverage when they reach the age of … [Read more...] about Medicare Coverage: Understand the Gaps
A Medicaid Trust Can Keep Assets in the Family
A lot of people assume that trusts are only useful for people who are extraordinarily wealthy. Indeed, high net worth individuals often use trusts of various kinds, but certain types of trusts can be extremely beneficiary for those of us who are not in the upper economic stratosphere. Even if you are a person of relatively ordinary means, you may want to consider the creation of a Medicaid trust at some point in time. Let's look at the facts. Long-Term Care Expenses When you are relatively … [Read more...] about A Medicaid Trust Can Keep Assets in the Family
What is a Medicaid Trust?
A Medicaid trust is a type of trust that you could use if you want to qualify for Medicaid to pay for long-term care. Though most seniors will qualify for Medicare, the program does not pay for living assistance. Since 70 percent of seniors will need assistance with their activities of daily living, Medicaid is the solution for many elder Americans. Need-Based Program You may be aware of the fact that Medicaid is a government health insurance program for people with financial need. If you … [Read more...] about What is a Medicaid Trust?
Elder Law FAQs: Does the Nursing Home Get Half of My Assets?
Elder law attorneys help clients who are concerned about the contingencies that they may face during their elder years. There is a lot to take into consideration, and you should certainly discuss things with a licensed professional if you want to be prepared for the future. Currently, one of the most pressing elder law issues is long-term care. While most seniors will qualify for Medicare coverage, Medicare does not pay for long-term nursing home care. This is considered to be custodial care … [Read more...] about Elder Law FAQs: Does the Nursing Home Get Half of My Assets?
Does the State Take My Assets If I Go on Medicaid?
You may not think about this program when you are planning for retirement, but in reality, Medicaid is very important for a significant percentage of senior citizens. Yes, Medicaid is a program that is in place to help people with very limited resources. And yes, you will qualify for Medicare at the age of 65 if you have paid taxes on your income throughout your life. However, Medicare will not pay for living assistance. Help with your activities of daily living is looked upon as custodial … [Read more...] about Does the State Take My Assets If I Go on Medicaid?
Is There a National Organization of Elder Law Attorneys?
A great many people were born between 1946 and 1964. This phenomenon is referred to as the "baby boom." These people are entering their senior years now. As a result, the population is aging. Somewhere in the vicinity of 10,000 people are applying for Social Security every day, and this will continue for years into the future. Elder law is the segment of the legal field that is focused on matters that are of interest to senior citizens. Because of the aging of the baby boomers, the elder law … [Read more...] about Is There a National Organization of Elder Law Attorneys?
