Validating Your Will is Important
In spite of the fact that over 50 percent of Americans find estate planning important, only about 33 percent have a will. caring.com Those individuals with a will may have moved to a different state or forgot to…
The Best Way to Discuss Estate Planning and Finances With Aging Parents
As your parent’s age, it is important to talk with them about their finances. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and how it relates to…
An Overview of Revocable and Irrevocable Trusts
In estate planning, there are two kinds of trusts: irrevocable and revocable. Each has benefits and drawbacks depending on your goals. However, both trusts are legal arrangements to manage and distribute your property during your lifetime or afterward.…
The Medicaid Penalty Period: How to Avoid It
Medicaid is a federal program that provides financial assistance to individuals who meet the minimum income and asset requirements for nursing home care, assisted living, in-home care, and adult foster care. As a result of these rules, many…
How Does the Estate Administration Process Work?
Estate administration refers to the process of managing and dispersing an individual’s assets after he or she dies in the United States. This process typically includes identifying and inventorying the decedent’s assets, paying debts and taxes, and distributing…
Abuse of Residents in Senior Living Facilities: How to Address It
Nursing homes and assisted living facilities for the elderly must be constantly monitored for signs of abuse. The National Center on Elder Abuse reports the most common types of abuse include physical (29%), psychological (21%), gross neglect (14%),…
Comparing Having a Will Versus Not Having One
Thinking about death, especially your own death, can be uncomfortable. Add to that the issue of what will happen to our assets after our deaths and it’s little wonder why so few people have created wills and other…
Hybrid Long-Term Care Insurance 2.0: Benefits
When you become seriously ill or injured, nursing home care can cost an astronomical amount. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet…
A Basic Understanding of Medicaid
The Medicaid program provides comprehensive health coverage and financial protection to millions of Americans. The program helps low-income families, individuals, and people with disabilities receive adequate health care and provides nursing home or community long-term care services. As…
A Guide to Writing a Living Will
A living will is also called an advance health care directive. It specifies what decisions you want medical professionals to make if you are incapable of making them due to accidents or illness. A living will is crucial…