Even if you have never needed to rely on Medicaid before to help with your health care costs, the odds are good you will need to as a senior. Why? The answer can be found in the high cost of long-term care (LTC). At an average yearly cost of over $80,000 nationwide, and an average length of stay of 2.5 years, it should come as no surprise that over half of all seniors in need of LTC rely on Medicaid to help cover the cost of care. Given the likelihood that you (or a spouse) will need to qualify … [Read more...]
Blog
Overseas Property Increases the Need for Estate Planning
Despite living in one of the largest countries in the world, Americans often yearn for the opportunity to own property outside of their homeland. According to the U.S. Department of Commerce’s Bureau of Economic Analysis, American investment abroad reached almost $5 trillion in 2015. If you own property abroad extra care must be taken in the manner in which that property is handled upon your death. Both inheritance laws and estate tax rules with which you may be familiar may not apply to foreign … [Read more...]
Medicaid Patient Share of Cost for Long-Term Care
For roughly half of all seniors living in nursing homes, or other long-term care (LTC) facilities, Medicaid is their only hope for assistance with the high cost of that care. Qualifying for Medicaid can be problematic for an applicant who failed to plan ahead. Once an applicant is approved for Medicaid they no longer have to worry about paying for their long-term care, right? Not exactly. Many Medicaid recipients remain responsible for a portion of their LTC expenses, known as their “share of … [Read more...]
The Role of Compensation in Estate and Medicaid Planning
A comprehensive estate plan should accomplish a number of estate planning goals and take into account various estate planning objectives. For example, planning for the possibility you will one day need to pay for long-term care (LTC), referred to as “Medicaid planning,” is a common estate planning goal. The overall objective of Medicaid planning is to reduce your “countable resources” so you will be eligible for Medicaid should you need it. While it may not be something you previously … [Read more...]
Medicaid Planning – Planning to Get Approved
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 Medicaid for help with your LTC costs. While Medicaid 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 failure to plan could put your hard-earned assets at risk. Even worse, if you try to conceal those assets, … [Read more...]
- « Previous Page
- 1
- …
- 76
- 77
- 78
- 79
- 80
- …
- 113
- Next Page »
