The most pressing elder law concern at the present time is the matter of long-term care and the costs that go along with it. Many people assume that Medicare would pay for living assistance, but in fact, this program does not pay for custodial in-home care or a stay in a nursing home or assisted living facility.Long-Term Care CostsAbout 70 percent of elders will eventually need help with their activities of daily living, so this is a situation that you should take quite seriously. Genworth … [Read more...] about Medicaid Waiver Can Preserve Resources
A lot of people think about estate planning as something that is purely financial. While this is certainly part of the matter, it is also important to consider the period of time that will precede your passing.An incapacity plan should definitely be embedded within a broader estate plan. When it comes to senior citizens, dementia looms large. About one third of people that are 85 years of age and older have Alzheimer’s, and this is not the only cause of cognitive impairment.This being … [Read more...] about Young Adults Should Have Advance Directives
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. This article concerns the Healthcare Powers of Attorney and Advance Directives.Read on to learn more … [Read more...] about The Basics: Powers of Attorney for Healthcare
Before we address the question that serves as the title of this blog post, we should explain why you may want to use a living trust. If you have a will, or think you should use a will, you may be surprised when you learn more.Living Trust vs. Last WillA revocable living trust is a very useful alternative to a last will, and the avoidance of probate is a major benefit. Why is this something that you may want to avoid? The answer is that it comes with a number of drawbacks that negatively impact … [Read more...] about Trustee Selection Considerations
Many people with disabilities rely on Medicaid as a much needed source of health insurance. Supplemental Security Income (SSI) serves as an ongoing source of modest financial support for people that are in this position.In order to qualify for these programs, you must be able to demonstrate a significant level of financial need. Once eligibility has been granted, it is not necessarily permanent. An improvement in financial status can cause a loss of benefits.Special Needs … [Read more...] about Can a Benefit Recipient Fund a Special Needs Trust?