An Elder Law Attorney’s Guide to Medicaid Planning
Low-income families and individuals are covered by the Medicaid program in the United States. However, because of the steep costs associated with long-term care, Medicaid planning is a growing trend for individuals with higher net worth as an alternative to spending down assets to qualify for benefits. Individuals can plan to meet eligibility requirements by […]
The Cost of Long-Term Care
Based on findings from the US Department of Health and Human Services, almost seventy percent of retirees in America will need some type of long-term care (LTC), with average annual costs for such services ranging between $53,768 and $105,850, according to research from Genworth. According to HHS, people who receive Medicaid-financed nursing home care spend […]
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 […]
Sandwich Generation is On the Rise, Here Are Some Tips
Those who provide care for their parents while simultaneously caring for children are part of the sandwich generation. Generations are part of the expression; however, they do not refer to people born at a specific time. Most of these “sandwich” caregivers are between thirty and forty years old and they balance providing for their families […]
Why You Need An Elder Law Attorney
Elder law is a highly specialized area of law focusing on the legal needs of older adults encompassing more significant issues like long-term health care needs, quality of life, and financial well-being. Specific planning may include estate planning and administration, asset protection planning, Medicaid planning and applications, wills and trusts, probate, advance directives, special needs […]
Don’t Wait for a Crisis to Discuss Long-Term Care With Your Parent
It is unclear whether or not your parent has a plan in place for long-term care. It is a difficult topic to broach; no one wants to talk about death and the financial realities that come with aging. Instead of having a proactive conversation early in a parent’s aging process, most families have a reactive […]
Advances in Memory Care Technology
The prevalence and incidence of Alzheimer’s are predicted to sharply increase according to a study by The Lewin Group on the behalf of the Alzheimer’s Association. By the year 2040 more than twice as many baby boomers will have Alzheimer’s disease as compared to 2015; 10.3 million as compared to 4.7 million respectively. Medicare costs […]
The Downfall of US Nursing Homes
Our most vulnerable family members are in our nation’s nursing homes. When the novel coronavirus did hit, these nursing homes became its ground zero as many residents and workers did not receive testing, and staff found obtaining personal protective equipment a struggle. Some facilities tended to downplay the severity of the outbreaks. Couple these issues […]