Elder law attorneys focus on legal and financial matters that are relevant to senior citizens. Clearly, most seniors will rely on Medicare for health insurance, and many elders are on fixed incomes. It is important to fully understand the Medicare out-of-pocket expenses. We will provide an overview here, and we will also share the updated figures for the 2021 calendar year. Four Part Program There are four distinct parts that make up the Medicare coverage. Part A is the hospitalization … [Read more...] about Medicare Premiums and Deductibles Updated for 2021
Government benefits for seniors are adjusted annually, and a new year is just around the corner. Some updated figures have been released, and we will share them in this post so you can stay a step ahead of the pack. Cost of Living Adjustment (COLA) The Social Security Administration uses the Department of Labor’s Consumer Price Index to consider cost-of-living increases. We are using the term “consider” because it is not a given; there were no increases for three of the last 11 years. In … [Read more...] about What Is the 2021 Social Security COLA?
According to the Insurance Information Institute, there is a pet of some kind in more than 65 percent of American homes. Dogs are the most popular pets, and believe it or not, there is a canine companion in 63.4 million households in the United States. Since dogs have relatively short lifespans as compared to humans, most dog owners do not have any concerns from an estate planning perspective. This make sense, and in most cases, there are multiple members of a given household that could care … [Read more...] about Can You Include Your Dog in Your Estate Plan?
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?
To be completely prepared for your twilight years, you should understand all of the eventualities and include family members who will be by your side. Death is one of the certainties of life so it is wise to be prepared and make things as comfortable as possible for yourself and the people that you love. With this in mind, it is important to understand the value of hospice care. Ordinarily, when you seek out health care assistance, recovery is the objective. Things are entirely different when … [Read more...] about Elder Law Answers: Hospice Care 101
As elder law attorneys, we educate people about the benefits that may be available to them. With this in mind, there is one way that veterans can get a boost during their senior years in addition to the retirement pension that longtime veterans receive after at least 20 years of service. Before we look at the benefit in question, we should briefly touch upon the way that the retirement pension can pave the way toward a comfortable period of rest and relaxation. Clearly, if you join up … [Read more...] about Look-Back Added to Veterans Pension Rules
Elder law and estate planning attorneys help people prepare for their senior years as they take steps to leave suitable legacies for their loved ones if it is at all possible. Loneliness can certainly be a challenge for elders that lose their spouses, and there is no one easy answer that is right for everyone. Some seniors have family members, friends, and neighbors that try to fill the gaps, but people live busy lives, and it can be hard for them to carve out sufficient time. In other cases, … [Read more...] about Estate Planning and Pet Ownership for Lonely Seniors
Most of our clients are somewhat surprised when they find out how an elder law attorney can help them preserve their legacies for the benefit of their loved ones. We often hear many of the same questions when we interact with people here in our office, and this gave us an idea. In this blog post, we'll share a hypothetical question-and-answer session between a client and a member of our firm. Do a lot of people need nursing home care eventually? One of the very best elder law resources on the … [Read more...] about Q & A Session With an Elder Law Attorney
If you are going to qualify for Medicare when you reach the age of 65, you may feel as though Medicaid is not relevant to you. After all, you have planned for retirement, you expect to have savings and income, and you own your own home. Medicaid is a program that is only available to people with virtually no financial resources, right? This is true, but Charlotte elder law attorneys counsel many people about a key Medicaid benefit. The reason why a significant percentage of seniors ultimately … [Read more...] about Can I Qualify for Medicaid as a Homeowner?