Long term care insurance (LTC insurance), unlike most health insurance plans, pays for the cost of your care when you need permanent help with activities of daily living (bathing, dressing, eating, etc.). Depending on the LTC policy, covered services may include nursing home care, personal care at home, assisted living facilities and/or adult day care. While some insurance plans, including Medicare and Medigap, may pay for a limited number of days in a nursing home or short term health care … [Read more...] about Long Term Care Insurance—Is It Right For You? (An Elder Law Today Blog)
When you think about retirement planning, you naturally focus on the positive times that you can have as a senior when you put your working years behind you. This is fantastic, and everyone should make the most of their golden years. However, there are the twilight years that will follow, and you should be aware of the potential long-term care costs that you could face as a senior. The majority of Americans will qualify for Medicare at the age of 65 under currently existing laws. This would … [Read more...] about Should I Purchase Long-Term Care Insurance?
On May 12th I, Lois Tager, will be retiring from this wonderful Law Firm. I wanted to take this opportunity to say “Goodbye” to all our exceptional clients. Together with Roy and his superb staff, building our Geriatric Division has been one of the most rewarding endeavors of my career. Helping to service the needs of our clients has been most rewarding and I shall miss you all. The field of Geriatric Care (also known as Elder Care) associated with a Law firm was unheard of just a short … [Read more...] about A “Goodbye” Message from Our Director of Geriatric Care Management
by: Lois G. Tager, M. Ed., CSA Director of Geriatric Care Management, Litherland, Kennedy & Associates, APC, Attorneys at Law “Nobody relishes the prospect of aging without a spouse or family member at their side, without friends to help them laugh at the ridiculous parts and support them through the difficult times.” (Senior Living Blog) Unfortunately, that is what many seniors face. Due to the lack of socialization, seniors are less able to contribute to their communities. Seniors who … [Read more...] about The Dangers of Social Isolation (An Elder Law Today Blog)
The question of when you might need to speak to an elder care law firm can be a difficult one to answer. What is an elder care law firm? How can they help you? What if it is a loved one who needs help? This blog article will address these questions to assist you in determining when you or a loved one might need to speak with an elder care law firm. When you need an elder care law firm for yourself Elder law attorneys specialize in the legal issues that affect seniors. These issues can include … [Read more...] about Do You Need to Speak with an Elder Care Law Firm?
When you are devising a long-term financial plan, you should consider the eventualities that you may face during your twilight years. Nursing homes are very expensive, and many elders do require nursing home care at some point in time. There are various different reasons why people ultimately need this level of care. However, when you gain an understanding of the widespread nature of Alzheimer's disease, you can see why so many seniors need long-term care eventually. The Alzheimer's … [Read more...] about How Expensive Are Nursing Homes in California?
To be able to understand what a step-up in basis is all about, you need to have an understanding of the lay of the land when it comes to capital gains taxes. The capital gains tax can come into play if you are in possession of assets that appreciated after you originally acquired them. You are not required to pay the tax on an ongoing basis as the assets appreciate. The capital gains tax is only applicable when you realize a gain. A gain is realized when you sell an appreciated asset and take … [Read more...] about Do Assets in a Living Trust Get a Step-Up in Basis?
If you have not looked into the subject, you may be unpleasantly surprised when you hear about the current state of long-term care costs. Medicare does not pay for long-term care, so this is a subject that you should take quite seriously when are looking ahead toward your senior years. Most people who attain senior citizen status are going to need help with their day-to-day needs eventually. The very useful government website LongTermCare.gov tells us that seven out of every 10 seniors citizens … [Read more...] about Genworth Financial Releases 2015 Long-Term Care Cost Survey
Most people are aware of the fact that Medi-Cal is California's version of the national Medicaid program. It acts as a health care insurance safety net for people who have very limited financial resources. As it turns out, the program also serves another purpose. Medicaid pays for most of the long-term care that is received by seniors in the United States, because Medicare does not pay for custodial care. Because of this dynamic, many Californians who were never needy ultimately seek Medi-Cal … [Read more...] about Do I Have to Spend Everything to Obtain Medi-Cal Coverage?
Elder care is a very pressing issue at the present time, because long-term care is very expensive. The majority of senior citizens are someday going to need living assistance, so this is something to take seriously when you are looking ahead toward the future. You may be confident because you will qualify for Medicare when you reach the age of 65, but this program does not pay for long-term care. If you were to pay for your elder care out of your own pocket, the costs could potentially consume … [Read more...] about What Is the Look-Back Period for Medi-Cal Eligibility?