Q. My wife and I like to plan ahead. Unfortunately, both of her parents and three of her aunts died of Alzheimer’s, and we want to make sure we are prepared should one of us need long-term care in the future. We are aware of the astronomical costs of long-term care and are considering LTC […]
Finding the Right Nursing Home
Carol and Bob invited his mother, Ginny, to spend the holidays with them, as she does every year. This year, her live-in caregiver expressed concern that it was not a good idea because Ginny’s dementia has gotten worse and she may not recognize her own grandchildren. Ginny cannot do much independently anymore and needs help […]
Long-Term Care Insurance- The Good, the Bad, and the Ugly
November is Long-Term Care Awareness Month, a continuing effort to raise public awareness about long-term care insurance and planning. Statistics show that more than 70% of people age 65 or older will need long-term care sometime in their future. That statistic alone dictates that you need to have a plan in place. With long-term care […]
Special Programs for Special Needs
Earlier this year, the Center for Disease Control (CDC) announced an alarming statistic regarding the prevalence of autism spectrum disorder (ASD), stating that is now affects 1 in 68 children (a 30% increase from 1 in 88 two years ago). The new CDC statistics raise significant concerns about access to care, because autism is a lifelong disorder and the […]
“Hide” is a Four-Letter Word
Q. I read in USA Today about an 83-year-old man who hid $1.1 million in offshore accounts to avoid paying taxes. I have also read about others who attempt to hide their assets to qualify for Medicaid, as a way to pay for long-term care. Isn’t it wrong and unlawful to hide assets in order […]
How to Avoid Losing Massive Amounts of Money to a Nursing Home
When older adults think of estate planning, many actually have asset protection in mind. What they want is the peace of mind of knowing that the nest egg they’ve been saving for that proverbial “rainy day” will actually be available for them when that rainy day comes. The rainy day, for most people, is when […]