Sam and Laura were delighted with the birth of their daughter Ella. The proud parents dutifully touted photos and began making college fund contributions. However, as time went on, Sam and Laura became concerned about Ella’s delay in developing basic skills. At two years old, Ella was struggling with speech, engaging in repetitive behaviors, and responding unusually to sensory stimuli. After enduring a gauntlet of testing from a variety of doctors, a diagnosis was made: Ella was … [Read more...]
How Can I Continue to Help My Nursing Home Spouse and Pass Down an Inheritance to My Children?
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 Medicaid to help cover the high cost of nursing home care. If you have managed to hold onto a sizeable nest egg, however, you may be wondering how you can … [Read more...]
Special Needs Trusts for Children with Down Syndrome
Every year, about 6,000 babies with Down syndrome are born in the United States. Over their lifetimes, many of these children will contend with serious medical conditions including heart defects, gastrointestinal problems, visual or hearing impairment, dementia, and early-onset Alzheimer’s disease. As a result, the costs associated with Down syndrome can be astronomical and many of those with the condition receive public benefits, such as Medicaid or Supplemental Security Income … [Read more...]
Your Independence, Rising Medical Costs, and Retirement
Many of us believe we have the “planning for the future” space covered. We’ve worked hard and saved. Our homes are paid off by the time we go into retirement and as far as we’re concerned, life now consists of living well in the way we define. In a perfect world, that’s true. In reality, there are a few things that can quickly annihilate our sense of independence. Planning is key, but knowing precisely what you need to plan for is crucial. It’s not uncommon to hear stories like this: A … [Read more...]
Five Estate Planning Myths
Estate planning. It’s on everyone’s “should do” list, but it rarely seems to make it to the top of the “to do” list. Maybe that’s because estate planning is surrounded by myths and misconceptions. People think it’s only for the wealthy, or only for the elderly. The truth is, everyone needs some form of estate planning because estate planning is life planning. Let’s do away with five common estate planning myths: Estate Planning is Only for the Elderly. Physicist Niels Bohr said, … [Read more...]
