AARP.org offers invaluable tips about the creation of your Last Will & Testament in their article, “10 Things You Should Know About Writing a Will.” As one would expect, creating a Last Will is a bit more complicated than simply writing your wishes down on paper. It must be expertly and properly prepared and executed to […]
“Recent studies show that health care costs for the aging population are increasing at staggering rates. According to New York State’s Office of Health Insurance Program, one year in a nursing home can cost an individual upwards of $145,000. In some regions, there are facilities where private pay rates are in excess of $200,000 per […]
Estate Planning is often associated with the rich and famous. You often hear of the massive Estates celebrities or the wealthy may leave to their heirs, but sometimes, the issues that arise from how the Estate Plan was created also come to light. This is often the basis of many movies and television shows as […]
Elderlawanswers.com attempts to tackle the question: Should you prepare a Medicaid application yourself? For Americans over the age of 65, applying for Medicaid is often the answer to many questions. Medicaid can cover private aides or a nursing home, completely taking care of long term costs, should you become incapacitated and need them. But like any […]
Commonwealth.com’s article, linked below and entitled “Benefit or Backfire: Navigating the Irrevocable Medicaid Trust,” explains the basis and caveats behind creating such a trust to ensure Medicaid eligibility. As Commonwealth.com puts it: “The idea behind an irrevocable Medicaid trust is to simulate a gift through the use of a trust. When establishing such a trust, the donor […]
The article linked below discusses the financial, emotional and physical strain that can happen as a result of becoming a caregiver to a parent or elderly loved one, and just how close we, as a country, may be to another financial crisis. “Considering the exorbitant national average costs of in-home care ($4,004 per month), assisted […]
The article linked below is just one heart-wrenching tale of the process of watching a loved one die without health insurance in this country. Doris Portillo, a naturalized citizen, brought over her parents from El Salvador on green cards to take care of them as they age. Unfortunately, in late 2013, her father, Aquilino Portillo, […]
Estate Planning and Elder Law are two very intertwined fields of law that deal with extremely sensitive subjects. When anyone thinks of creating their Last Will, they’re considering what will happen to their assets and their loved ones after their demise, which can be an emotional and stressful event. When you are going through Estate […]
As The Motley Fool, a financial service company, mentions in their article, it is imperative to create an Estate Plan to distribute your estate according to your wishes, knowing your heirs will have no issues. That way, your mind can always be at ease that your legacy will be preserved. Michael Aloi, the author of […]
Applying for Medicaid, as anyone who may have looked into it already knows, is a daunting task. In addition to the lengthy and thorough Medicaid application itself, there are indeed more steps to the process. Theseniorlist.com separates them into 4 steps: The Medicaid ApplicationVerification processContact with the Medicaid officeDenials As aforementioned, the Medicaid application is a tedious […]