Parents who have a child with special needs in school will meet annually with the school district to develop an IEP (Individualized Education Program), a document that outlines the educational program and special services their child will receive. (Although the IEP team must meet annually, meetings can be scheduled any time at the request of
Yes, but be aware that a co-trustee can be held responsible for another co-trustee’s breach of a fiduciary duty. Thus, it is important that all co-trustees pay close attention to everything that is done in the administration of the trust. If there is any question or problem, it should be communicated to the other co-trustee
Finra, the SEC and NASAA have all been in discussion for years about increasing protection of senior investors. There is a move to create such protection by requiring that financial professionals report suspected abuse to Adult Protective Services and utilize methods to freeze accounts and notify a trusted other when abuse appears to be going
Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs. Leave the house in your will The simplest way to give your house to your children is to leave it to them in your
John Hancock Financial, owned by Manulife Financial Corp., a Canadian firm, is pulling out of the long-term care insurance market this December. John Hancock has been one of the largest long-term care insurance providers in the United States with over 1.2 million outstanding policies. These policies will remain in effect, but no new policies will
While you are eligible to apply for Medicare when you are 65, there are circumstances where you might not want to, particularly if you are working full time for a larger employer or contributing to a health savings account. However, there can be penalties if you don't sign up at the right time, so it
The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2017 taxes as a result of buying long-term care insurance. Premiums for "qualified" long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of
The Centers for Medicare and Medicaid has announced the Medicare premiums, deductibles, and coinsurances for 2017. After holding steady at $104.90 a month for four years, the standard Medicare Part B premium that most recipients pay will rise 4 percent to about $109 a month. However, approximately 30 percent of beneficiaries will see their Part
Dear Clients, Colleagues, and Friends: A couple weeks ago, I read an article on LehighValleyLive.com entitled How to prevent long-term care plans from becoming a crisis. It discusses the importance of financially planning for long-term care in the event of chronic incapacity. The article quotes someone as saying that Medicaid, a public benefits program, is an “option for some people” but “the only problem is you have to be destitute to qualify.”
In recent years, nursing homes have increasingly asked -- or forced -- patients and their families to sign arbitration agreements prior to admission. // Read more
