Posted by Nina Whitehurst | Feb 01, 2023 |
Many senior citizens may need the services of a nursing home or at-home care at some point in their life. You might assume that government assistance or health insurance will step in and cover the cost if you cannot afford these services. Unfortunately, neither health insurance nor Medicare covers long-term care.
Posted by Nina Whitehurst | Jan 31, 2023 |
Traditional Medicare does not pay for assisted living, but Medicaid might.
Posted by Nina Whitehurst | Jan 25, 2023 |
Saying goodbye to a loved one is heartbreaking. Making final arrangements can be overwhelming, and knowing what you are allowed to do to fulfill your loved one's wishes is important, but it can also be confusing. If the person you lost wanted to be cremated and have their ashes spread, you should know where you can scatter their ashes to make sure that putting your loved one to rest is done appropriately.
Posted by Nina Whitehurst | Jan 24, 2023 |
In November 2022, the Centers for Medicare and Medicaid Services (CMS) announced that Medicare coverage will be expanded to include medically necessary dental services.
Posted by Nina Whitehurst | Jan 23, 2023 |
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death. When you make a Totten trust, you put funds into a revocable trust and designate a beneficiary to receive them.
Posted by Nina Whitehurst | Jan 20, 2023 |
If you are planning to leave an investment property to loved ones, a 1031 exchange may be a helpful estate planning tool for you. Because these exchanges allow you to defer taxes or limit taxes owed at the time of a sale, you can use the money that would have been spent on taxes to increase your real estate portfolio, rental income, and personal wealth.
Posted by Nina Whitehurst | Jan 18, 2023 |
A Grantor Retained Annuity Trust (GRAT) is a mechanism by which wealthier individuals and couples can transfer appreciating assets to their heirs and minimize gift or estate taxes. High-net-worth individuals and couples can use GRATs to freeze the value of their estates and transfer any increase in the value of their assets to their heirs, with minimal tax consequences.
Posted by Nina Whitehurst | Jan 17, 2023 |
As a beneficiary of Medicare, you have the right to appeal a denial.
Posted by Nina Whitehurst | Jan 16, 2023 |
Estrangement refers to a breakdown in a relationship, such as a relationship with a spouse or family member, where there is no longer any communication, or communication has become hostile, and the individuals lead separate lives. Although estrangement can significantly impact individuals’ lives, it is not a legal term and, in many cases, might not have a legal effect.
Posted by Nina Whitehurst | Jan 13, 2023 |
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if there’s anything you shouldn’t include in your will. The answer is yes. There are some things that you should avoid.
Posted by Nina Whitehurst | Jan 11, 2023 |
Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute those items that you do not want or need quickly and efficiently.
Posted by Nina Whitehurst | Jan 10, 2023 |
Spousal impoverishment is a concern for older couples when there is one spouse who requires long-term care and applies for Medicaid.
Posted by Nina Whitehurst | Jan 09, 2023 |
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. RMDs begin when a person reaches either age 72, 70½ if they reached this age before January 1, 2020, or the year in which a person retires (if after age 72).
Posted by Nina Whitehurst | Jan 08, 2023 |
“Decedent” is a legal term that refers to a person who has died with unsatisfied legal obligations.
Posted by Nina Whitehurst | Jan 06, 2023 |
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect assets from Medicaid and nursing homes or long-term care.
Posted by Nina Whitehurst | Jan 06, 2023 |
After losing a loved one, consider the best way to honor them and their life. Sometimes, a traditional funeral is not the best fit. Today, there are many alternatives to a traditional funeral service and burial.
Posted by Nina Whitehurst | Jan 04, 2023 |
Medigap premiums for plans from insurance companies offering the same benefits vary widely, so it pays to be a smart shopper.
Posted by Nina Whitehurst | Jan 01, 2023 |
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases.
Posted by Nina Whitehurst | Dec 30, 2022 |
Medicare is federal health insurance for people over 65, some younger people with disabilities, and those with end-stage renal disease. Coverage of housekeeping services under Medicare can depend on several factors.
Posted by Nina Whitehurst | Dec 28, 2022 |
If medical personnel are able to access your medical history during an emergency, it could mean the difference between life and death. But if, for example, you are injured, in shock, suffering from dementia, or are otherwise incapacitated, you may not be able to provide that information yourself.
Posted by Nina Whitehurst | Dec 23, 2022 |
A diagnosis of dementia, a category of diseases affecting memory and thinking that includes Alzheimer’s disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or Alzheimer’s does not mean that you cannot execute legal documents or make decisions about plans for your future finances and health care.
Posted by Nina Whitehurst | Dec 21, 2022 |
Do you have a friend or loved one who receives Social Security and is unable to manage her payments? If so, you can request that the Social Security Administration (SSA), the government agency that disburses Social Security, name you as the representative payee for that person.
Posted by Nina Whitehurst | Dec 16, 2022 |
Although original Medicare does not offer food benefits, some Medicare Advantage plans provide a grocery allowance or cover meal delivery. Some programs also include nutrition education and cooking classes.
Posted by Nina Whitehurst | Dec 14, 2022 |
Nursing home evictions, or involuntary discharges or transfers, disrupt the lives of residents, leading to homelessness, separation from familial support systems, and loss of care. As federal law covers all federally funded nursing home residents, nursing home evictions are legal only in particular instances.
Posted by Nina Whitehurst | Dec 09, 2022 |
If you are a high-net-worth individual, it’s essential to have a comprehensive estate plan in place. However, every family’s circumstances are unique, and there is no one-size-fits-all solution for estate planning.