Medicaid places certain limitations on the amount of financial resources you own, as well as how and when you can transfer assets from your estate to someone else. Long-term care costs are often too expensive for most people and they are continuing to increase every year. Currently, the national average cost, for a year of nursing home care, exceeds $90,000. For this, and many other reasons, Medicaid planning is important for everyone. Our Ashland Medicaid attorneys can advise you regarding the … [Read more...]
Charlotte Residents Can Benefit From Early Estate Planning
While financial planning can help you to build wealth over time, through the wise management of your resources, and retirement planning focuses on directing a portion of today’s income and assets toward tomorrow’s needs, your estate plan must to bring these strategies together in a comprehensive way. A well thought out estate plan can preserve and distribute the wealth, you have worked so hard to accumulate, to the next generation and beyond. Everything doesn’t work out automatically You may … [Read more...]
Reduce Your Debt and Stay Invested to Gain Financial Flexibility
When you are making preparations for the latter portion of your life, obtaining financial flexibility is critical. Planning to reduce your debt and stay invested is an important component of attaining this flexibility. Depending on how your health holds up and whether or not you need long-term care at some point, you may face widely varying expenses. Being prepared to comfortably handle these eventualities is what long-term planning is all about. Obviously, saving money for the future is a … [Read more...]
Free Report: Can I Qualify for Medicaid If I Own a Home?
The Medicaid program is in place to provide health insurance for people who have very limited financial resources. If you have had health insurance through your job or through a private relationship with an insurer throughout your life, Medicaid can seem irrelevant to you. Plus, when you are a senior citizen, you will have health insurance through Medicare. All of this makes sense on the surface, and most of us do not think much about Medicaid while we are relatively young adults. However, the … [Read more...]
What Is Medicaid in Charlotte NC?
The government involvement in the health care system has become much more complicated recently, and much of that is a subject for a different forum. As an elder law firm in Charlotte North Carolina, though, we are interested in government health insurance programs as they apply to senior citizens. With this in mind, we would like to provide a basic explanation of Medicaid in Charlotte NC as it applies to elders who need long-term care. Why Would You Need Medicaid in Charlotte NC? Your knee-jerk … [Read more...]
Tax Efficient College Savings Plan
Many individuals have the desire to pave the way for their younger family members educationally. Setting aside resources for college can be done in various ways, and the best choice will vary on a case-by-case basis. The intelligent way to proceed is to sit down and discuss your unique situation with a northern Kentucky estate planning attorney who is apprised of all of the options that are available to you. When you do you will probably hear about 529 plans. These are savings plans that have … [Read more...]
Planning Ahead With Clear Vision
It is important to plan ahead with clear vision when you are making preparations for the future. Otherwise, you may find yourself in a difficult situation as your senior years start to come into focus. A very high percentage of Americans fail to plan ahead for retirement, and one of the reasons why they don't prioritize it is because they expect Social Security to be sufficient. If you are under this impression, you should understand the limitations of Social Security. The average benefit will … [Read more...]
