Planning for your retirement years should start years before you actually retire. When you are contemplating your retirement years, it is important to take into consideration the very real possibility that you, or a spouse, will need long-term care. To help you get started, a Grand Forks Medicaid planning attorney at German Law explains the top five steps involved in long-term care planning. Evaluate your health. Although most people cannot predict the need for long-term care (LTC), … [Read more...] about 5 Steps in Long-Term Care Planning
At some point during your retirement years, you may find that you need the type of care that can only be provided by a long-term care facility. Given the high cost of that care, you may need to turn to Medicaid for help paying your long-term care (LTC) bill. One concern many seniors have when considering Medicaid as an option is the impact applying for Medicaid will have on their spouse who plans to remain in the community. A better understanding of the Medicaid Community Spouse rules should put … [Read more...] about What Is the Medicaid Community Spouse Resource Allowance?
Given its prevalence, almost everyone knows a little bit about Alzheimer’s disease. If it strikes someone you love, however, you may not know what to do. For both the patient and his/her loved ones, an Alzheimer’s diagnosis can be very emotional and may take some time to accept. Sometimes, focusing on the steps that need to be taken in the aftermath of a diagnosis can provide you with a focus and may help you feel like you are doing something beneficial. With that in mind, the Minot Medicaid … [Read more...] about Steps to Take after an Alzheimer’s Diagnosis
Whether you are a senior yourself, or are the loved one of an older individual, issues surrounding the laws and procedures followed by nursing homes will inevitably be important at some point in time. As the older population in the United States continues to grow rapidly, nursing homes have been in the spotlight as a result of seemingly endless claims of neglect and abuse. Another concern for residents of a nursing home is the facility’s ability to evict or involuntarily discharge a resident. To … [Read more...] about Reasons a Nursing Home Can Legally Evict You
For an adult child, it can be very unsettling when you and your parents start to reverse roles. The older your parents get, the more vulnerable they often become. Consequently, you may find yourself becoming the caretaker as you watch your parents experiencing the physical and/or mental deterioration that frequently accompanies the aging process. At some point, one (or both) of your parents may reach a point at which nursing home care is necessary. Waiting until care is needed to discuss the … [Read more...] about How Do I Talk to My Parents about the Need for Nursing Home Care?
Long-term care planning should be part of most comprehensive estate plans because we all stand a good chance of needing long-term care (LTC) at some point. The reason LTC planning is essential is the high cost of that care and the need to contemplate how you will pay for it if you need it. The Grand Forks elder law lawyers at German Law help you figure out if long-term care insurance is worth the cost, or if planning for Medicaid eligibility is a better option. The Cost of Long-Term Care When … [Read more...] about Is Long-Term Care Insurance Worth the Cost?
Throughout your working years, you likely enjoyed employer-sponsored or privately purchased health insurance. Once you reached retirement age, you may have assumed that Medicare would take over paying for your health care expenses. Consequently, you probably never gave the Medicaid eligibility requirements much thought – until the need to pay for long-term care arose. Like many seniors faced with paying for long-term care (LTC) you may now be concerned that the need to qualify for Medicaid puts … [Read more...] about Will I Lose My House If I Need Medicaid?
One of the most popular, and important, components of a comprehensive estate plan is Medicaid planning. You may have made it through several decades without ever needing to qualify for Medicaid; however, that could change rapidly once you reach your retirement years if you need long-term care. You may have also heard a number of disconcerting things about Medicaid eligibility, most of which likely revolve around the loss of assets as a result of the need to qualify for Medicaid. If you have a … [Read more...] about Can Medicaid Take My 401(k)?
Given the rate at which the older population is increasing in the United States, there is a very good chance that you are either part of that demographic or have a parent who is. That also means that the need for long-term care may crop up in the future, if it hasn’t already. Experts tell us that at retirement age we all stand a 50-70 percent chance of needing some type of long-term care services prior to the end of our lives. Understandably, no one wants to go into a nursing home; however, … [Read more...] about Is Nursing Home Care the Only Option?
Whether you are making the decision for a spouse, a parent, or another loved one, deciding that someone you love requires the type of care that can only be provided in a nursing home is typically a heart-wrenching decision. Once that decision has been made, however, yet another difficult decision must be made – which nursing home to select? If you find yourself in this situation, you are likely worried about your loved one becoming the victim of elder abuse and/or neglect given how frequently is … [Read more...] about Top 10 Questions to Ask When Choosing a Nursing Home