When individuals and married couples are faced with the need for long-term care, immediate worries turn to affordability and the depletion of assets – especially one’s savings and retirement accounts. The decision of whether to pay for long-term care...
Key Considerations in Aging Understanding how the older adults in your life feel about certain issues – such as where they want to live and what kind of care they would like to receive as they continue to age – can help you provide appropriate support. Having these...
Assisted living facilities are a housing option for people who can still live, a bit, independently but who need some assistance. Costs can range from $2,000 to more than $6,000 a month, depending on location. Medicare won’t pay for this type of care, but Medicaid...
Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up...
Results of a recent survey led by the Department of Health and Human Services in Utah reveal that more than half of the state’s residents who lost their coverage during Medicaid’s “unwinding” process in 2023 did not attempt to resecure their benefits. What Is...
ElderLawAnswers.com has gathered 2024 updates for key elder law, estate, tax, and special needs planning figures. They are listed below. Be sure to bookmark this page for quick reference throughout the year! 2024 Medicaid Spousal Impoverishment Figures Community...
Many retirees look forward to traveling in their retirement. More and more are actually retiring overseas, in part as a way to stretch savings. But what happens to retirees’ federal benefits while they are out of the country? The short answer is that although...
Your heirs may not see eye to eye on family circumstances, particularly regarding inheriting your estate. Relationships can change and intensify when you die. Underlying issues can bubble to the surface, creating tensions over your estate and possibly tearing your...
Over the next two decades, experts foresee Baby Boomer households transferring more than $84 trillion in generational wealth. Amid challenging economic times, it is more important than ever to protect your assets for yourself and your loved ones. Without a...
Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing their general inheritance situation can change their decision-making process and lead to...
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