Understanding the Distinction Between Medicaid and Medicare
Healthcare professionals commonly recognize the acronym LASA, which stands for look-alike-sound-alike, often used when referring to medications. When it comes to federal programs, Medicaid and Medicare look alike and sound alike but work very differently. Both Medicaid and Medicare were started in 1965 under Lyndon B. Johnson’s administration in response to the inability of older […]
The Significance of Trusts as Essential Estate Planning Instruments
Estate planning is a crucial process that involves dividing money and property after someone passes away. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective. A trust is a legal arrangement where a person, known as the grantor, settlor, or trustmaker, transfers their assets to […]
The Importance of Choosing a Health Care Power of Attorney
When you are unable to express your wishes, your health care power of attorney becomes your voice. The Role of a Health Care Power of Attorney A power of attorney, also known as a health care proxy, is a legal document that allows you to appoint a trusted individual to make decisions on your behalf […]
Protection from Spousal Impoverishment
Congress created safeguards over 30 years ago to protect the savings of married couples who use Medicaid. These protections prevent husbands and wives from bankrupting themselves and funding care for their loved ones. They originally required states to allow spouses of nursing home residents to maintain a certain amount of income and assets. In 2014, […]
Estate Planning for Seniors
Even though nearly half of Americans age 55 or older acknowledge that estate planning is important, few have wills, powers of attorney, or health care directives. These documents help guide your representatives to provide the end-of-life wishes you seek. Estate planning also reduces the family burden and stress caused by conflict among family members after […]
Medicaid Enrollment and Eligibility Changes
CMS has proposed simplifying Medicaid enrollment and increasing the number of people eligible to obtain and maintain coverage. Overall the goal is to streamline applications, verifications, enrollments, and renewals, standardize processes, and reduce red tape. These proposals are a response to the Biden Administration’s January 2021 and April 2022 executive orders to increase access to quality, affordable health coverage […]
Who Are Elder Law Attorneys and What Do They Do?
Older and disabled individuals are affected by a wide range of elder law issues. Lawyers who practice elder law assist seniors and loved ones in living better lives by advocating for them and creating legal plans for them. Elder law may include planning for retirement, Social Security, Medicare and Medicaid, long-term care planning, estate planning, guardianships, and […]
Financial Fraud and Abuse of the Elderly
Annually, American elder financial fraud and abuse total between 2.6 and 36.5 billion dollars in lost assets and money, according to the National Council on Aging (NCOA). The NCOA believes instances of elder financial abuse and fraud are likely underreported, although self-reported financial exploitation has higher rates than the other types. Even as the coronavirus […]
RESOLUTION: Get That Estate Plan Done!
The first new year’s resolution you need to keep is to visit your friendly elder-law attorney, who can guide you through the estate planning process. Unfortunately, we are still at the mercy of this pandemic. It is extremely important to have your papers prepared in advance in case you become ill to the point where […]
Considering Your Parent’s Financial Future
Waiting to discuss finances with your aging parent, who may be in cognitive decline, is a mistake, according to financial experts. Gathering all the information necessary for a thorough financial assessment of their aging needs will take time. When your parents are young and still working, it is the best time to begin asking these […]