Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Previously, retirement planning focused on an employer sponsored pension and Social Security retirement benefits. The concept of lifetime employment, however, is largely a thing of the past, which also makes pensions a thing of the past. Moreover, the fate of the Social Security retirement program is uncertain. Also, monthly Social Security benefits do not go as far as they once did. As a … [Read more...] about Traditional or Roth – Which Type of IRA Is Right for You?
Medicaid/Medi-Cal Planning – Planning to Get Approved
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Are you prepared to cover the expenses of long-term health care (LTC) if you need nursing home, assisted living or regular at home care down the road? If you are like many seniors, you will turn to Medi-Cal for help with your LTC costs. While Medi-Cal will cover LTC expenses, getting approved can be challenging. The old adage is that “if you fail to plan, you may as well plan to fail.” Your … [Read more...] about Medicaid/Medi-Cal Planning – Planning to Get Approved
Caring for an Alzheimer’s Patient— Can Medicaid/Medi-Cal Home Based Services Help?
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys If your spouse is suffering from Alzheimer’s disease, you understand how devastating the disease can be – both to the patient and to the caregiver. Alzheimer’s doesn’t just rob the patient of memories, it also robs loved ones of their time and energy. In most cases, the symptoms of Alzheimer’s progress slowly, making it relatively easy to care for a loved one during the early stages of the … [Read more...] about Caring for an Alzheimer’s Patient— Can Medicaid/Medi-Cal Home Based Services Help?
How You Can Provide for Your Disabled Child and Still Qualify for Medi-Cal
David and Amy have been happily married for over 50 years and are now well into their retirement years. They live in California and have two grown children. Their daughter Sarah is an engineer, while their son Allen has special needs and lives in a group home. Amy is very concerned lately because it looks as though both she and her husband will be living in a nursing home in the near future. She is unsure how that will affect Allen and the financial help they have always given him. The good news … [Read more...] about How You Can Provide for Your Disabled Child and Still Qualify for Medi-Cal
Can Purchasing an Annuity Allow You to Keep Assets and Still Qualify for Medi-Cal?
Like many people, you may not have given much thought to the possibility that you will need to qualify for Medicaid/Medi-Cal later in life. More importantly, you may not realize that the retirement nest egg you have worked so hard to establish over the course of your lifetime could be at risk if you do ultimately need to qualify for Medi-Cal benefits. Often, the best way to explain something is by using an example or illustration. Therefore, in order to help you understand how you can qualify … [Read more...] about Can Purchasing an Annuity Allow You to Keep Assets and Still Qualify for Medi-Cal?
How Can I Continue to Help My Nursing Home Spouse and Pass Down an Inheritance to My Children?
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Deciding you can no longer adequately care for a spouse in your home is heart-wrenching. However, once you have made the decision to move your spouse to a nursing home, you will need to make a number of practical, financial, and legal adjustments as a result of the move. One of those adjustments may be to get your spouse qualified for Medi-Cal to help cover the high cost of nursing home care. … [Read more...] about How Can I Continue to Help My Nursing Home Spouse and Pass Down an Inheritance to My Children?
What You Need to Know about Medicaid/Medi-Cal Estate Recovery
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys The longer you live, the greater the odds are that you, or a spouse, will need long-term nursing home care. To cover the cost of that care, you may find yourself turning to Medicaid for help (in California, the Medicaid program is referred to as Medi-Cal). You may have heard, however, that in order to qualify for Medi-Cal you need to sell your home and use the proceeds to cover expenses … [Read more...] about What You Need to Know about Medicaid/Medi-Cal Estate Recovery
Does a Married Couple Have to “Spend-Down” Assets to Qualify for Medicaid/Medi-Cal?
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You’ve heard the horror stories about married couples who lost the majority of their nest egg as a result of the Medi-Cal “spend-down” requirements when one of them needed help paying for long-term care costs. Understandably, you don’t want this to happen to you. Are the stories true? Will you really lose a considerable portion of your assets if you, or your spouse, go into a nursing home? The good … [Read more...] about Does a Married Couple Have to “Spend-Down” Assets to Qualify for Medicaid/Medi-Cal?
Frequently Asked Questions About Gifting and Medi-Cal Eligibility
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Over half of all seniors who need long-term care end up turning to Medi-Cal for help covering the cost of that care. Many of them know little, or nothing, about the Medi-Cal eligibility rules because they never needed Medi-Cal prior to their retirement years. The result is that there are a number of misconceptions surrounding the Medi-Cal rules, particularly when it comes to making financial gifts just … [Read more...] about Frequently Asked Questions About Gifting and Medi-Cal Eligibility
Help Celebrate National Family Caregiver Month
Compliments of The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys Family members, friends, and neighbors devote countless hours to providing care to their relatives or loved ones. During National Family Caregivers Month, we recognize and thank the humble heroes who do so much to keep our families and communities strong. President Barack Obama, NFC Month Proclamation 2012 The words of President Obama remind us how … [Read more...] about Help Celebrate National Family Caregiver Month
