Unfortunately, over a decade, the number of observation stays has increased exponentially and is being used, even when patients have a diagnosis and have been admitted by their own physicians.
Without a proper elder law estate plan, the children’s responsibilities are even more exhausting, stressful and sad.
Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Medicare is a crucial part of retirement, yet 72% of Americans say they wish they better understood how the program works, according to a survey from Nationwide.
Raising a child with special needs means extra health, safety and planning challenges that can be more stressful and expensive.
Assuming you have income in retirement, you will be subject to at least some income taxes in your golden years.
If you have a child with special needs, a trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child, in case you're no longer able to care for them.
Adults with disabilities are living much longer than in the past, which means their aging parents must plan for the day when their dependent children outlive them.
