The cost of nursing home care can be a concern for many people. It’s often expensive. According to Genworth, a private room in a nursing home can cost more than $100,000 per year. Moreover, the company suggests that by the year 2031, a private room will cost...
Social Security wasn’t meant to be a primary source of income for retirees when it was first created in 1935. It sought to provide an umbrella of protection for people who couldn’t save enough for retirement. Most Americans didn’t think much about Social Security,...
Palliative care and hospice care can provide comfort to seriously ill patients and patients who have received a prognosis of imminent death. Each type of care is intended to improve the quality of life among patients who receive it. Many people use the terms hospice...
Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits. These protections, known as the Spousal Impoverishment...
When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level of care typically provided in a nursing home. Whether you are applying for nursing home coverage or through a Medicaid...
Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity. In addition, revocable trusts–sometimes called “living” trusts–are incredibly flexible and can achieve many other goals, including tax,...
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