You can often learn valuable lessons when you witness the mistakes that others have made. As an inheritance planning firm, we have certainly seen our share of them as you might imagine. In this post, we will take a look at some of these errors so that you do not fall into the same traps. […]
Medicaid planning
The Risks of Incapacity: Why Early Estate Planning Is Essential for Elders
As life expectancies extend, the elderly population faces an increasing risk of incapacities, such as dementia and Alzheimer’s. These conditions significantly impact decision-making abilities, highlighting the importance of early estate planning. Lifespans, Dementia, and Its Implications The joy of a longer life comes with its challenges. A prolonged lifespan often increases the likelihood of developing […]
The Silver Tsunami: Planning for Long-Term Care in a Sea of Gray
Imagine a vast wave, not of water, but of people – the silver tsunami of aging baby boomers crashing towards us. By 2030, an estimated 72 million Americans will be aged 65 and older, nearly double the number in 2000. This demographic shift has profound long-term care implications, not just for society as a whole, […]
Long-Term Care Costs and the Medicaid Caregiver Child Exemption
When considering the future, understanding the Medicaid Caregiver Child Exemption is crucial. But before delving into that, let’s highlight an essential background detail about Medicare and long-term care. Medicare and Long-Term Care Expenses Once you hit 65, if you’ve worked and paid taxes for at least a decade, you’ll qualify for Medicare. If you’re married, […]
Your Long-Term Care Options: Medicaid
Most people do not have estate plans, but many of those that do have been quite diligent. They have a will or a trust that will facilitate asset transfers after they are gone, and they have a living will and durable powers of attorney to account for possible incapacity. If you have taken these steps, […]
Medicaid Planning Explained
The term “Medicaid planning” can be confusing on the surface. Medicaid is a health care program for people with very limited resources. Why would you want to try to be in this position? This is a very good question, and we will provide the answer in this post. Medicare Inadequacy You earn Medicare eligibility when […]
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