Sunday, June 26, 2022

Elder Law

hybrid trust

Expecting Medicaid or Government Benefits? Consider a Hybrid Trust

Is this your situation? You worked hard all your life. You saved for a rainy day and retirement. Now, you are at that time in your life where you need to consider what may happen...
reverse mortgage

Tax-Smart Cash Flow Solution for Seniors with Appreciated Homes

Many older people own hugely appreciated homes but are short of cash. A side effect of large appreciation is the fact that selling the property to raise cash will trigger a gain well in excess of...
long-term care planning

Fear Factors in Elder Care Planning

The fear of many elderly individuals -- perhaps even yourself or someone in your family -- is that nursing home costs will consume their life savings before they can be passed to their heirs. This concern...
medical expense tax deductible

Deductible Medical Expenses for Seniors

The older people get, the more medical expenses they tend to incur. The only saving grace is the expenses may add up to a federal income tax deduction. Specifically, you can deduct medical expenses you are...
respite caregiver

How to Choose the Appropriate Respite Caregiver

Respite care: Short-term services for elderly and disabled people so their primary caregivers get a break. Providing care for an aging parent or relative can be an all-consuming task, especially if it involves dealing with serious...
assisted living costs

Consider These Assisted Living Costs

In recent years, assisted living facilities have become a popular option for elderly people who don't need the level of care offered in a nursing home but need assistance with activities of daily living. To make...
in-home care as tax deduction

When Can In-Home Care be Deducted as a Medical Expense?

The U.S. Tax Court provided some insight into the question of the deductibility of in-home care of a disabled individual. The case involved an elderly woman with dementia who stayed in her home with...
guardianship powers

What are the Powers of a Guardian?

When loved ones become mentally incapacitated they may need a court-appointed guardian to handle their personal health care and financial needs. That can be avoided if the individuals execute a durable power of attorney and a...
nursing home rights

What are Your Rights as a Nursing Home Resident?

The stress of moving into a nursing home is great -- and it's compounded by the loss of freedom, dignity and privacy. Adding to the anxiety is the fact that people moving to an elder care...
medicare basics

Understanding the Basics of Medicare

Many older Americans rely on the Medicare program for their primary health care coverage. Medicare is the federal program that helps pay medical bills for people 65 years and older, as well as people with certain...

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