by Elder Law Answers | Dec 18, 2020 | Elder Law
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home — may be paid for in four...
by Elder Law Answers | Dec 16, 2020 | Elder Law
Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? You should consider your options before paying for a plan. While a regular health insurance plan usually offers comprehensive coverage...
by Elder Law Answers | Dec 14, 2020 | Elder Law
Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members. While we may think of pets as part of our family, the law considers them to be property. This means that you cannot...
by Elder Law Answers | Dec 11, 2020 | Elder Law
We are sorry to hear about your loss. There are two kinds of potential financial responsibility: personal responsibility where you would have to pay from your own funds and responsibility on behalf of your mother to pay from her funds. You would only have personal...
by Elder Law Answers | Dec 6, 2020 | Elder Law
In some circumstances, immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse. An immediate annuity, in its simplest form, is a contract with...
by Elder Law Answers | Dec 4, 2020 | Elder Law
The Centers for Medicare and Medicaid Services (CMS) has released its Spousal Impoverishment Standards for 2021, confirming the earlier projections of Pennsylvania ElderLawAnswers member Robert Clofine, who based his estimates on the consumer price index for urban...
by Elder Law Answers | Dec 2, 2020 | Elder Law
Medicare premiums are set to rise a modest amount next year but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50. The Centers for Medicare and Medicaid Services (CMS) announced the premium and...
by Elder Law Answers | Nov 25, 2020 | Elder Law
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon. Passed in March 2020,...
by Elder Law Answers | Nov 20, 2020 | Elder Law
While it may seem great to inherit a vacation house, in actuality it may not be practical to keep the property, especially for tax reasons. There are many factors to consider when inheriting property, including taxes, any mortgage, and other owners. But if you know...
by Elder Law Answers | Nov 19, 2020 | Elder Law
As Medicare premiums rise, a Medicare Advantage plan can seem like an attractive option. But if you are considering switching from Original Medicare to a Medicare Advantage plan, you need to know what to look for. Medicare Advantage plans are run by private insurers,...
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