When parents ponder how to provide for their child with special needs, they sometimes forget one of the key advantages of a special needs trust that is created while the parents are still alive: the trust can be the recipient not just of the obvious assets that are...
Medicare covers preventative care services, including an annual wellness visit. But confusing a wellness visit with a physical could be very costly. As part of the Affordable Care Act, Medicare beneficiaries receive a free annual wellness visit. At this visit,...
The number of older Americans with student loan debt – either theirs or someone else’s — is growing. Sadly, learning how to deal with this debt is now a fact of life for many seniors heading into retirement. According to a study by the Consumer Financial...
Donor-advised funds are a growing trend in giving that may get more popular due to the new tax law. These funds allow you to donate money, receive a charitable tax deduction, and continue to grow the money until you are ready to distribute it to a charity or...
Paying for day care is one of the biggest expenses faced by working adults with young children, a dependent parent, or a child with a disability, but there is a tax credit available to help working caregivers defray the costs of day care (called “adult day...
SSI is the basic federal safety net program for the elderly, blind and disabled, providing them with a minimum guaranteed income. For 2019, the maximum federal SSI benefit is $771a month for an individual and $1,157 a month for a couple (normally, the amounts go up...
Nursing home and long-term care costs continue to rise and it is difficult to qualify for Medicaid to pay for nursing home costs. Long-term care insurance can help cover expenses, but long term care insurance contracts are notoriously confusing. How do you figure...
https://www.naela.org/NewsJournalOnline/OnlineNewsArticles/OnlineJune2018/PayingRetirement.aspx
While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so you may want to take steps to protect your house. If you get...
Taking care of a parent can be a full-time job. Children may have to give up paying jobs in order to provide care to aging parents. Unfortunately, caregiving is usually unpaid work. Parents who want to compensate a child who takes on the burden of caregiving may do so...
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