They say blood is thicker than water, but sometimes promises made between family members don’t hold water. Some of the most heart-rending cases our firm has ever been involved with are situations where broken promises between family members make years of love seem like a lousy investment. Situations where formal estate planning would have provided some certainty […]
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year’s change. The small rise has advocates questioning whether the government is using the proper method to calculate the cost of living for older Americans and those with disabilities. Cost-of-living increases are tied to the consumer price […]
We are often asked about the difference between estate planning and elder law. Although we believe that the two go hand-in-hand, there are important distinctions between them. One notable similarity, however, is that they are both more universal than they may seem at first glance: estate planning is not only for those with large estates […]
Do you own an annuity? Annuities are a complicated subject and even more so when it comes to their effect on the Medicaid or VA Aid and Attendance application process. How can an annuity impact a person’s ability to qualify for Medicaid or VA benefits in the future? Before I answer the question, let’s start […]
With the Medicare Open Enrollment season currently in progress until December 7th, more seniors are finding themselves baffled by an array of choices. How can you avoid making a mistake that may haunt you for the rest of your life? The launch of the new Medicare Plan Finder will be the only way to discover […]
Naming More Than One Person as Your Power of Attorney Granting someone power of attorney means that you are giving them the authority to make important decisions on your behalf should you be incapable of making them yourself. The scope, duration, and other specifics are up to you. While the laws vary in each state, […]
THE NEXT BIG HEALTH CRISIS: DEMENTIA Somewhere in the world, every three seconds, someone is being diagnosed with dementia. Dementia is a catchall phrase that refers to many types of neurodegenerative diseases. Neurodegenerative diseases bring about the onset of dementia including but not limited to: Alzheimer’s disease, Lewy body dementia, Parkinson’s disease dementia, vascular dementia […]
How does your estate plan look? If you have a family and assets to protect, it is important to plan how those assets will be distributed after your death. Attorney Hank Weatherby is a leading estate planning lawyer in the greater Hartford CT area. Recently, while researching various financial planning strategies, I came across a […]
Federal law requires that beginning on April 1 of the year after you reach age 70 1/2, you must begin withdrawing a minimum amount from your non-Roth individual retirement account (IRA) or 401(k) accounts. This Retirement Account Distribution is called a Required Minimum Distribution (RMD). But what if you die after age 70 1/2 and […]
Ever increasing life expectancies mean we get to spend more time with our loved ones, but it also means facing greater health problems as we age. One of the most challenging health issues for aging adults is dementia. Dementia is not a specific disease, but rather describes a group of symptoms that are associated with […]
Elder abuse can happen to anyone, regardless of sex, social status or ethnic background. It wears many faces and, alarmingly, typically occurs at the hands of the people who are most trusted by the victims – like their spouses, children, grandchildren, caregivers or financial or other advisors. California’s laws set forth several specific types of […]
Government agencies and regulators are being forced to address the financial exploitation of older adults, as recent studies estimate that between $2.9-$36.5 billion in wealth is lost annually. While older adults are not the only victims of financial fraud, they possess a number of characteristics that make them particularly vulnerable. Much of the literature focuses […]
Many people believe that if they have a will, their estate planning is complete, but there is much more to a solid estate plan. A good plan should be designed to avoid probate, save on estate taxes, protect assets if you need to move into a nursing home, and appoint someone to act for you […]
When looking at a facility option in Arizona, there are many types of facilities to choose from. The type of facility required is based on the physical and functional needs of the resident. Below is a breakdown of the facility types available and what they offer. Your Care Manager or Aging Life Care Professional will […]
As a person ages, they are likely going to accumulate assets. This is usually a good thing; however, if the person is going to need Medicaid to help pay for some of their expenses, it might not be such a good thing. Some individuals don’t understand that they can’t just give things away right before […]
For many people, Medicaid may carry a certain stigma. They often believe that it is only for those who are poor and that they would not qualify. However, what they do not know is that Medicaid is not just for “poor people” and it may actually serve to provide them with much needed coverage. Denial of […]
One of the hardest things a senior must come to grips with is that he or she can no longer operate an automobile safely. However, this is not usually something they’ll admit to themselves, even if they know it’s the truth. Most of the time it is up to their adult children to determine when […]
Protecting the family home is one of the biggest issues that people worry about when discussing Medicaid eligibility. Let’s look at some of the basics: While you generally don’t 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 […]
Every day around 40 million Americans assist elderly or disabled family, friends or neighbors with simple tasks such as bathing, preparing meals, housework, shopping for groceries, doctor’s visits and taking medication. Often, it’s only this volunteer care that allows the individual to continue to live in their own home, or with family, rather than in […]
If you or someone you love is trying to qualify for Medicaid, you may have heard people talking about—or in most cases, complaining about—having to wait five years to access benefits. If you don’t have access to professional guidance, you could easily fall victim to this common misconception about Medicaid. When people complain about waiting […]
Medicaid is a healthcare program designed to help individuals with limited income and assets afford needed medical care. Importantly, Medicaid covers long-term healthcare services such as nursing home costs and costs for at-home personal healthcare. Because Medicaid is intended to benefit those with limited income and assets, there are strict eligibility requirements based on income […]
The home is often the only asset held by seniors when they consult an Attorney for Medicaid planning or asset preservation. If a client requires nursing home placement immediately and the only asset that he or she owns is a home, there are several options. If a “well” spouse resides in the home after the […]
If you help American families plan for and/or deal with any of the following 30 Elder Care / Senior Care services, then you should absolutely be listed on ElderCareMatters.com – America’s National Directory of Elder Care / Senior Care Resources: Aging In Place Alzheimer’s Care Assisted Living Care Management Daily Money Management Dementia Care Dentistry […]
Few understand the difference between an investment advisor and a stockbroker. The difference is substantial. An investment advisor is a fiduciary; this means they have a legal and ethical duty of primary loyalty to their clients. The interests of their clients are paramount. Investment advisors receive a fee based on a percentage of the value […]