Long-Term Care
Simply stated… women must plan for a long retirement and the possibility of long-term care. Why? You may ask. You might be surprised to learn a 65-year-old female in the US has an average life expectancy of another 20.8 years. Also, a child born in the US in 2007 has a 50% chance of living…
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It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life. The big question is: How will you pay for care? Buying long term care insurance ahead of time is one way many Americans prepare for these expenses. Long-term care refers to a host of…
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As we have pointed out in previous blogs, applying for Nursing Home Medicaid can be tricky. There are assets an applicant can have which are ‘countable’ while others are ‘exempt’. Furthermore, there are Medicaid eligibility rules even within these assets which can get the applicant denied if not addressed properly by an experienced elder law…
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What is an asset? The dictionary defines an asset as “something that is owned by a person, company, or organization, such as money, property, or land.” In general, there are four broad classes of assets: Equities (stocks) Fixed income and debt (bonds) Money market and cash equivalents. Real estate and tangible assets. A house, like…
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Most older adults desire to “age in place.” What do we mean by this? Aging in place is a term used to describe a person living in the residence of their choice, for as long as they are able, as they age. This includes being able to have services brought into the home as care…
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We are wrapping up our Medicaid journey. We have been able to explore many side roads, obstacles and rarely discussed long-term care programs along the way. In our weekly blogs we have spent time talking about: *2021 Eligibility Requirements and Changes * Applying for Nursing Home Medicaid in GA * Medicaid for Single People *Medicaid…
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The September 15, 2020 executive order from the Governor’s office is providing a pathway for long-term care facilities like skilled nursing facilities and assisted living communities to engage in additional activities including family visitations. Long-term care facilities have borne the brunt of COVID-19 infections and fatalities and a measured approach to a gradual reopening is welcome…
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What is a pet trust and how can establishing one, help you take care of your furry friends? For many of us, a pet is a true part of the family. According to the ASPCA, about 44% of households have a dog, while 35% have a cat. There are proven health benefits to owning a…
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Last week we discussed how important it was to provide the attorney with information about your health and your health insurance coverage. This week we will explain why sharing comprehensive financial information allows an elder law attorney to advise you about long-term care options and strategies for protecting assets Providing detailed information on income…
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During your first meeting with an Elder Law Attorney, the attorney will ask an array of questions about your health, your existing legal documents, as well as your income and assets. You may be asking yourself, “why does the attorney need to know all of this information?” Discussing health concerns with an elder law attorney…
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