When you pay FICA or self-employment taxes, it may seem like you are just pouring money down a black hole that will never come back around to provide any benefits for you. In fact, this is really not the case.You earn retirement credits when you pay these taxes, and anyone that works full-time or consistently on a part-time basis will receive the maximum four credits per year. When you have at least 40 credits to your name, you will qualify for Medicare and Social Security when you are a … [Read more...] about Medicare Coverage Gap Can Decimate Your Legacy
As elder law attorneys, we educate our neighbors about important matters that they may face when they attain senior citizen status. It is very important to have a thorough understanding of benefits that may be available to you, and this is especially important for veterans of the United States Armed Forces.Most veterans are aware of the fact that individuals that served for at least 20 years become eligible for a retirement pension. The amount that you would receive if you are a service … [Read more...] about Veterans Pension Has New Eligibility Parameters
When you are working and paying FICA or self-employment taxes, it can seem like the money is going into a black hole, but in fact, you get something for your contributions. You earn one retirement credit for every $1360 that you pay taxes on in 2019. The maximum annual accrual is four credits.As you can see, this is a modest requirement, and we should point out the fact that this exact figure is adjusted annually to account for inflation. After you have at least 40 credits, you will qualify … [Read more...] about Prepare for Out of Pocket Medicare Costs
If you find yourself worrying about your mother’s ability to safely care for herself or about her ability to handle her affairs, it may be time to consider guardianship. Like many adult children, you may be resistant to the idea of petitioning to become your mother’s Guardian because it feels as though you are taking away her independence. Keep in mind, however, that failing to pursue guardianship could place your mother at increased risk for serious injury or victimization by predators who prey … [Read more...] about How Do I Become My Mother’s Guardian?
There are many aspects of growing old that can be a bit scary; however, for most seniors, nothing is more frightening than the thought of developing Alzheimer’s disease. You undoubtedly have some idea what Alzheimer’s is and how it affects those who have it; however, the Rochester elder law attorneys at the Law Office of Michael Robinson, P.C. tell you 10 things you may not already know about Alzheimer’s disease.What Is Alzheimer’s Disease?According to the Alzheimer’s Foundation of America … [Read more...] about 10 Things You May Not Know about Alzheimer’s Disease
We always emphasize the fact that personalized attention is key when you are planning your estate. There is no cookie-cutter, one-size-fits-all estate planning strategy. There are many tools in the estate planning toolkit as it were, so you should understand your options so that you can make fully informed decisions. With this in mind, we will look at special needs planning in this post.Need-Based BenefitsMany people with disabilities are going to require costly medical care throughout their … [Read more...] about A Special Needs Trust Can Preserve Medicaid Eligibility
If you work and pay FICA or self-employment taxes for a minimum of ten years, you will qualify for Medicare when you reach the age of 65 under current laws. Medicare is also available to the spouses of people that meet this requirement. We include the caveat “under current laws” because some legislators consistently talk about raising the age of eligibility. This is a matter that you should stay abreast of when you are looking ahead toward your senior years.Medicare provides a solid health … [Read more...] about Why Is Medicaid Relevant If I Have Medicare?
You may wonder why you should have any interest in the Medicaid parameters if you are going to qualify for Medicare when you reach the age of 65. The reason why elder law attorneys educate people about the intricacies of the Medicaid program is because it will cover nursing home care. Medicare does not pay for long-term custodial care.If you are thinking that you will probably be able to take care of your own needs for the rest of your life, you should understand some relevant statistics. … [Read more...] about Medicaid Parameters Adjusted for 2019
Elder law attorneys address issues that are of interest to senior citizens, and retirement planning is not the only consideration. After your active retirement years, the twilight years will inevitably follow, and you may not be able to handle all of your own day-to-day needs at some point. In fact, according to the United States Department of Health and Human Services, 70 percent of senior citizens will someday need assistance with their activities of daily living.If you have paid into the … [Read more...] about Prepare for the Twilight Years
The Law Office of Michael Robinson, P.C. provides help to seniors who need assistance from an elder law attorney in finding the right nursing home care facility. Many seniors end up needing help and support from elder care professionals as they age. It is imperative to find the right carers who can provide compassionate assistance and who offer the services necessary to enhance a senior’s quality of life. There are some caregivers who are far superior to other healthcare providers serving … [Read more...] about Elderly Care Provider Receives Grant