Question: We are scared about getting Old! How would we go about planning for the cost of our future elder care needs? Answer: I advocate the compilation of a Life Transition Plan (with at least annual updates). This plan documents not only the usual things, like income, expenses, assets and liabilities but also contemplates various […]
Question: How much can an elder pay their family members to provide them with long term care? I am assuming this is permitted. I would prefer to pay my family than to pay a home care company for this type of personal care. Answer: What you are referring to is what is called a “Personal Services […]
Question: I desperately need some advice. My wife is 79 years old and has progressively gotten so debilitative that I (82 years old) can no longer care for her at home. We have lived in our paid off home for more than 30 years and we receive every month about $2,800 in total benefits, including […]
This is a one of the most confusing terms in the VA benefit area. There are numerous sources that give varying degrees of upper limits. In reality, the lesser the better. The house (including a reasonable amount of land that it sits on) does not count if the home is occupied by the applicant. If […]
Secret Money for Senior Veterans Many Veterans believe that they have to have suffered an in-service disability to qualify for monetary benefits from the Veterans Administration. This is a common misconception. Depending on their health status, their income, and their assets, many senior Veterans and their dependent or surviving spouses can qualify for not only […]
Question: How would I know whether my elderly father is eligible to receive help from the government in order to live in a nursing home? He has no income, to speak of, other than his monthly Social Security check, has a very small checking account, owns his small home, and desperately needs nursing home assistance. Answer: […]
Build a Roadmap to your Assets As people increasingly go “paperless” – using the online features of banks and brokerages to manage their accounts – it’s complicating the process of helping your heirs sort out your finances once you’re gone. The problem If you don’t keep careful records, your family might not even know where […]
Question: Can you tell us what resources are “countable” by the Veterans Administration during the application process for Spousal Aid & Attendance benefits? Answer: This is a one of the most confusing terms in the VA benefit area. There are numerous sources that give varying degrees of upper limits. In reality, the lesser the better. The […]
Question: My mother is 78 years old and has been diagnosed with Alzheimer’s Disease. She and my father (who is 79 years old) live in a small town, have a paid off home, and both receive small pensions and Social Security. My question is how I, the daughter and an only child, should start getting information […]
Trusts are a common planning tool that can be used to allow one person to hold property for the benefit of another. There are different types of trusts with different benefits and drawbacks. In fact, there are so many different types of trusts that it can often be confusing for people who are considering setting […]
What Documents Should Be Included in a Comprehensive Estate Plan? Answer: A comprehensive estate plan should include the following documents, prepared by an attorney based on in-depth counseling which takes into account your particular family and financial situation: A Living Trust can be used to hold legal title to and provide a mechanism to manage […]
Question: “My family has trusted ElderCareMatters.com for some time now to help us in locating the elder care / senior care resources that we need in order to effectively plan for and deal with our Elder Care Matters. Recently, my sister searched a state where there were no Elder Care Professionals listed on ElderCareMatters.com under […]
Question: “I’ve heard many rumors about Medicaid, such as 1) You cannot make a gift and then apply for Medicaid myths without waiting five years; 2) To qualify for Medicaid all of a couples’ income must go to the nursing home; 3) The spouse of the elder applying for Medicaid must “Spend Down” all of […]
Question: “In preparation for Mom needing to rely on Long Term Care Medicaid benefits in the future, we have been gifting to a recently created Trust so that we can reduce the amount of countable resources that belong to our mother. Is this something that we should be doing?” Answer: The most likely answer to your question […]
Question: We have heard that the Internal Revenue Service (IRS) will now recognize Same-Sex Marriages for all Federal Tax Purposes. Would you please tell us more about this? Answer: Since the Supreme Court struck down Section 3 of the federal Defense of Marriage Act in June, federal agencies have begun updating regulations to conform to the […]
Question: “We have heard that Medicaid won’t pay a dime if the “community spouse” – the spouse not in the nursing home – has more than a certain amount of countable assets. (A number that changes periodically.) However, we are now hearing about something called “spousal refusal,” whereby the community spouse can retain all of […]
Question: Our family is now dealing with elder care issues for both sets of parents, and we desperately need help with a host of elder care matters, including Elder Law, Geriatric Care Management, Home Care, Medication Management, and Financial Management. When will ElderCareMatters.com include ALL ElderCare Professionals in our State so that we can simply […]
A will deals with assets, whereas a living will deals with medical care. Many States have done away with the so-called living will and replaced it with the advance health-care directive (“AHCD”). An AHCD can accomplish a variety of objectives, from saying who will make health care decisions for you if you cannot communicate with […]
Question: Can we use Mom’s Medicaid funds from one state if we were to relocate her to a nursing home in a different state so that she would be closer to her children? Specifically, are Medicaid funds portable between states? Answer: Unfortunately, your Mother cannot use the benefits she may be entitled to receive from State A […]
Question: Mom takes a lot of prescription medicines and often gets confused and takes too many. Is there someone we can contact who can help our elderly mother get a prescription medicine system established? Answer: A Geriatric Care Manager (GCM) who is a nurse could help you with your mother’s situation. Medicine system can be confusing, especially […]
Question: “The VA has denial our Application for Aid & Attendance benefits for long-term care. May we appeal this decision?” Answer: Yes, you can appeal the denial of benefits. There should be instructions along with the Notice of Denial. Check with the Department of Veterans Administration and they will have a list of Accredited Attorneys […]
Question: My wife and I are in our 70s and recently moved from Illinois to Florida to live out our remaining years in retirement. It’s been more than 10 years since we last had our Wills updated. Is it necessary for us to have our Wills re-done now that we have moved to Florida? Also, […]
Question: “I desperately need some advice. My wife is 79 years old and has progressively gotten so debilitative that I (82 years old) can no longer care for her at home. We have lived in our paid off home for more than 30 years and we receive every month about $2,800 in total benefits, including […]
Question: “My husband died earlier this year and had a large amount of money in his Individual Retirement Account (IRA). I understand from our Financial Advisor that I need to make some decisions about this IRA. Would you please share with me some of the decisions that need to be made when it applies to […]