Spousal impoverishment is a concern for older couples when one spouse needs long-term care and applies for Medicaid. If one spouse requires care in a skilled nursing facility and the other remains at home, the spouse at home might face significant financial hardships....
Long-term care insurance helps you prepare for financial costs associated with aging, such as nursing home care, assisted living, or in-home care. Yet long-term care insurance policies vary widely in terms of the amount of coverage and how long the protection lasts....
The term “dementia” is thrown around a lot in discussions of elderly individuals, but what exactly does it mean? Dementia is a general term for memory loss that is severe enough to interfere with daily life. This general term encompasses many different diseases, of...
Medicaid is a federal program administered on a state-by-state basis. There are several types of Medicaid — including Community Medicaid. Community Medicaid covers care and medical services that enable a recipient to remain in their home or community as long as...
The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until his or her death, when it passes to the other owner....
No, but depending on your state’s guardianship laws, it may save time. Whenever someone seeks guardianship, they must give notice to all the next of kin. Typically, part of the process includes a period of time during which the next of kin can object to the...
You could file for bankruptcy on your mother’s behalf, but it is doubtful that would be necessary. Your mother is what is often referred to as “judgment proof,” meaning that even if she were successfully sued, her creditors wouldn’t get anything. She/you could either...
Even if you’ve created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in a will or estate plan that can have a big impact on a family. 1. Alternate Beneficiaries One of the most...
It is hard to know what documents to trash and when. Before you know it, your spare room, office, basement, or garage is overflowing with boxes of papers that all seem important. Trying to weed through the mess and figure out what to toss? Keep reading. Which...
On August 23, 2022, the Federal Trade Commission (FTC) issued an alert that scammers offering free COVID-19 tests have been targeting Medicare recipients online, by phone, and through television advertisements. The goal of these scammers is to obtain your Medicare...
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