Adult children often help their parents make medical and health care decisions. If you are also helping your parents with money management and bill paying, this makes you a financial caregiver. Your main role as a financial caregiver could include: determining the right long-term care that meets a loved one’s needs helping them with money […]
Without a doubt, most individuals 65 or older (at least 70% of them to be exact) will require some form of long-term care during their golden years. Dealing with the costs of such care can be overwhelming, which is why certain insurances exist to help ease the burden. It can often be difficult to decipher […]
As the need for affordable long-term care continues to rise, our elderly loved ones are looking for ways to get nursing home care and provide a financial future for their family. Many find comfort in the benefits that Medicaid offers, however some may find that gifting assets away can jeopardize their Medicaid long-term care coverage. […]
Families with special needs children often are often concerned about how they can pass assets to their children without interrupting important public benefits, such as Medicaid. Supplemental needs trust, sometimes called special needs trust, can assist in protecting these very important benefits. There are three main kinds: 1) third party supplemental needed trust 2) self-settled […]
Veterans and spouses of veterans – you may want to pay close attention. A new rule was proposed by the Department of Veterans Affairs in January of this year that may cause you an extra headache or two when it comes to applying for needs-based benefits. The pension program that would be affected by the […]
As Houston area residents know, storms can become life threatening situations in mere moments. That’s why when we have a loved one with special needs, we have to be even more prepared for any emergency situation. Whether your loved one has mobility, visual, hearing, speech, or cognitive disabilities, you will need to not only plan […]
Recent reports suggest that hospitals have increasingly classified new patients as under observation (or outpatient status) to protect themselves against Medicare policies that prevent payouts to hospitals for excessive patient admissions. However, many of the patients under observation are being cheated out of thousands of dollars. Inpatient vs. Outpatient: What is Covered? Under federal law, Medicare won’t pay for post-hospital extended care services […]
Each year, an overwhelming majority of estates will get by without having to pay any federal estate tax, or “death tax”. This is because you can leave a rather significant amount of assets to the inheritor(s) of your estate before taxes would even begin to kick in, which is a huge relief. Just how much can you leave […]
With 10,000 Baby Boomers turning 65 years old every day, taking care of our loved ones has become even more pressing than ever. Many individuals have come to a point where their elderly relatives are unable to safely care for themselves or require higher levels of caregiving. To provide the best decisions for this stage of life or to prepare for […]
It is important to start thinking about, and prepping for, the unexpected. Many people will wait until they become older to think about end of life issues, but accidents and disability can be these tough decisions in front of families sooner than they anticipated. Advance directives help to ensure that your preferences for medical treatment are […]