Before we provide some information about long-term care insurance, we should explain why the matter should be on your radar. The United States Department of Health and Human Services maintains the LongTermCare.gov website, and you should check it out if you are looking ahead toward your senior years. They share many relevant statistics on the site, and one of them is particularly attention-getting. Seven out of every 10 people that are turning 65 on any given day will need living … [Read more...] about Is Long-Term Care Insurance a Good Investment?
nursing home asset protection
Medicaid Healthy Spouse Allowances Updated for 2021
Before we focus on the subject that serves as the title of this post, we will share some background information to provide context. Most senior citizens will require living assistance eventually, and the United States Department of Health and Human Services tells us that 35 percent of elders will live in nursing homes. The state of Oklahoma has determined that the average cost for a year in a nursing home statewide is about $65,000-$80,000. Here in Oklahoma City, the median charge for a … [Read more...] about Medicaid Healthy Spouse Allowances Updated for 2021
Medicaid Allowances for the Healthy Spouse
While Medicaid is not a concern for everyone, it can be extremely relevant to people who need to qualify for Medicaid because Medicare will not pay for custodial care. Custodial care is the type of assistance you would receive in a nursing home or in some assisted living communities. Actually, everyone should take Medicaid seriously, because 70 percent of senior citizens will eventually need help with their activities of daily living. Many folks who need this assistance can get the help they … [Read more...] about Medicaid Allowances for the Healthy Spouse
These Errors Can Tarnish Your Legacy
There are some common estate planning mistakes that can yield negative consequences for survivors. We are going to look at three of them here. Assuming the State Will Take Care of Everything Some people do not prioritize estate planning because they assume that the state will step in to make sure the assets go to their loved ones. The probate court does provide supervision during intestacy cases, so part of the assumption is correct. However, as for the idea that the assets will automatically … [Read more...] about These Errors Can Tarnish Your Legacy
Estate Planning 101
Every person has their unique estate planning DNA. There is no cookie-cutter, one-size-fits-all estate plan. Every situation is different. Where people are starting in the process, where they want to go and issues that stand in the way are all different for each of us. There is no 'one size fits all' solutions. This is why you should discuss the possibilities with an experienced estate planning lawyer. At the same time, there is a certain framework that applies to everyone, and we will … [Read more...] about Estate Planning 101
Key Medicaid Facts and Figures
You will become eligible for Medicare when you reach the age of 65 if you have worked and paid taxes for at least 10 years. Medicaid on the other hand is a government health insurance program that is available to people with significant financial need. The United States Department of Health and Human Services tells us that seven out of every 10 seniors will eventually need living assistance. About 35 percent of them will eventually reside in nursing homes. Since Medicare was established to … [Read more...] about Key Medicaid Facts and Figures
