Dear Raider, My son recently graduated from high school. My mother wants to give him a monetary gift of $1,000. She is in the early stages of dementia and may need nursing home care in the not-so-distant future. Would giving this gift affect her Medicaid eligibility? Thanks for your help! Ella Jability — Dear Ella, […]
Is a Reverse Mortgage a Good Strategy in This Economy?
If you’re a homeowner nearing retirement age, you’ve probably seen the TV commercials about reverse mortgages. Tom Selleck offers a friendly explanation of reverse mortgages and how people use them. How accurate is what he and other proponents of reverse mortgages indicate? Are reverse mortgages actually a good strategy to help fund your retirement? How […]
Should My Mother Let Her Life Insurance Policy Lapse?
Q. My mother, Sandra, is considering letting her life insurance policy lapse. She claims that she is low on funds and that it is difficult to make the monthly payments. She is also concerned about Medicaid eligibility. Do you have any advice on this matter? Also, I’d like to buy life insurance and long-term care […]
Do Reverse Mortgages Affect Medicaid Eligibility?
Dear Ribbit, My wife and I are considering a reverse mortgage, since we have a lot of equity in our home and very little cash flow. She is in the early stages of dementia. Would the reverse mortgage affect Medicaid eligibility, and what happens if we are considering establishing a Living Trust Plus(TM) income only […]
Virginia 529 Prepaid Education Plan Limited Time Open Enrollment: Plan Ahead for Your Child or Grandchild
We all dream of the day when our child or grandchild is accepted to college. From the time he or she is diapers, we begin planning for great things. We drive them to soccer, gymnastics, and music lessons in hopes that they are talented enough to earn a scholarship to college one day. Then the […]