Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article looks at several ways to plan for those expenses. 6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...] about 6 Important Estate Planning Considerations – Part 2: Long-Term Care
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here are possible paths for covering those potential costs. How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...] about How Are You Planning for Long-Term Care (LTC) Expenses?
If you are considering moving to an elder care facility or have an elderly family member who is thinking of transitioning to such a facility soon, you have probably worried about the costs of such care. It’s no secret that long-term care costs are often extremely high, and the prospect of spending years in a nursing home or other elder care facility can seriously damage or completely deplete all … [Read more...] about Protect Your Assets From Nursing Home Costs
For many of the 10,000 baby boomers reaching retirement age every day, the idea of needing long-term care is only that: an idea and not a reality. A new poll conducted by the AP-NORC Center For Public Affairs Research shows that two-thirds of baby boomers say they’ve done nothing to plan ahead for the possibility of long-term care costs. Three in 10 say they don’t like thinking about getting old … [Read more...] about Boomers Unprepared for Long-Term Care
Every year, Genworth Financial conducts a nationwide survey of long-term care costs. The report detailing the results of the2011 survey has been released and, to no one’s surprise, the cost of care in nursing homes and assisted living facilities has increased. The Nationwide Trend In fact, the cost of long-term care has shown a steady increase, on a nationwide basis, since 2005. When you look at … [Read more...] about What is the Cost of Florida Long-Term Care?
Having an incapacity plan is vitally important. You never know when catastrophe may strike, and even the youngest and healthiest among us are vulnerable to illness and accidents. Incapacity Planning is Critical That’s why it’s critical to plan in advance. With an incapacity plan, you use a living trust and/or other legal documents, called advance directives, to help ensure your wishes are … [Read more...] about Is Your Incapacity Plan Medicaid-Ready?
Did you know that, if you meet the Medicare age requirements and your income and assets are low enough to qualify you for Medicaid, you can receive benefits from both programs at the same time? If you need long-term care, such as a nursing home or an assisted living facility, this could be especially helpful. Why? Although Medicare offers coverage for certain medical costs, it offers only very … [Read more...] about Can You Qualify for Both Medicaid and Medicare?
As a loved one progresses from the early to the middle stages of Alzheimer’s disease, there may come a time when he or she needs more help than you can provide at home. Fortunately, there’s a variety of long-term care facilities available, ranging from assisted living facilities to nursing homes. The trick is choosing the right one for your loved one. With that in mind, here are some things to … [Read more...] about Choosing a Long-Term Care Facility for a Loved One With Alzheimer’s