70% of all Americans over age 65 will need some form of long-term care. A properly-structured Family Caregiver Agreement provides an alternative to placement in a facility and to the impoverishment that comes with it. Benefits of a Family Caregiver Agreement You may ask “Why do I need to enter into a contract to take
After his wife died Frank, a retiree, updated his estate planning. His new will passed his estate in equal shares to his three children. Most of his assets consisted of investments managed in a brokerage account. Frank, unbeknownst to his lawyer and on the advice of his financial planner, later designated the assets in his
Medicaid is the only public benefit program that pays for long-term nursing home care. Medicare and private health insurance don’t. But in order for Medicaid to pay you’ve got to be broke. Worse yet, if you’re married, your spouse, referred to as a “community spouse” must also be broke – almost. Spouses may keep a
The U.S. Department of Veterans Affairs (VA) has many different kinds of programs to benefit the more than 18 million American military veterans living in the United States. Among others, these include assistance with health, education, and home loans. But surprisingly, VA disability payments are one of the most common entitlements veterans overlook – even
An executor is the person named in a Last Will & Testament who is responsible for managing the administration and distribution of the estate of a deceased individual, the “decedent”. For persons who die without a will, the court appoints an administrator to perform that function. Although the time and effort involved will vary with
More than 65 million people across the country receive Medicare benefits. When Does Medicare Start? At age 65, you become eligible for Medicare if you are a U.S. citizen. You do not have to wait until you retire to apply for the program. You can enroll in Medicare beginning three months prior to your 65th
Incorporating legal measures as part of one’s estate and retirement planning to protect against catastrophic healthcare costs, especially nursing home charges, is important but often overlooked. Elder law attorneys have the expertise needed to properly address those concerns in addition to handling other aspects of estate planning. But what if someone has already entered a
There are many kinds of Trusts. The most well known is the so-called “Living Trust”, in which someone creates and funds a Trust, naming himself as Trustee and beneficiary, and in which that person can amend or revoke it at any time. But generally, for a variety of reasons, someone creating a Trust is going
Many older adults have life insurance that they no longer need. With children grown and no debt, the purpose for which the insurance was acquired no longer exists. Life insurance is an asset that many older adults have. According to Vital Life, 57 percent of Americans aged 65 and older have life insurance policies. In
Housing options and the associated costs are among the top priorities for many seniors. Today, more than ever, seniors are opting to enter an independent living facility as an affordable means of maintaining their desired way of life. What Is an Independent Living Facility? An independent living facility is a housing arrangement that caters
