No One Plans to Fail

No one wakes up in the morning with a deliberate plan to fail, but I do believe many of us plan for failure by simply procrastinating because while we all know we will die it all seems so far off. Unfortunately, too often the unexpected arises, and families are left scrambling to figure out what to do for those they love. When my mother’s health became such that my father had to place her in

How to Preserve Assets When Faced With Long Term Care Costs

It is estimated that over 70% of people over 65 will need some type of Long Term Care(LTC) according to the US Department of Health & Human Services. Meet Charlie and Fran.  They have three children, 9 grandchildren and 5 great grandchildren…so far!  They have hopes and dreams for their future generations and have worked hard to ensure their legacy is passed on.  As they age, they realize that if either one of them needs

Planning for Retirement

What chapter of life are you in?  If like me, retirement is approaching, but not quite here.  Are you prepared?  Five hundred and five seniors, aged 75 or older, were surveyed by Home Instead, Inc. about preparing for their future.  While many people know they should plan for retirement, get their financial affairs in order, and decide on their final resting wishes, most seniors are underprepared when it comes to creating a plan for their

Nursing Home Planning. How do you achieve peace in the midst of uncertainty?

Are you worried about the impact of a Nursing Home stay on you or a spouse? You are not alone! The majority of older adults worry about this possibility. Consider the following: • How will I pay for Nursing Home Care?  Medicare coverage is available in many cases but is limited in payment duration.  Long Term Care insurance can do wonders in protecting our assets and may even increase your chances of gaining

Why Not Add Your Child to Your Bank Accounts?

Clients frequently tell me they want to add a child as a joint owner on their accounts and assets for “convenience”. There are numerous reasons why this should not be done, and why it is probably the most inconvenient thing that you can do. The biggest reasons people want to do it are to avoid inheritance tax, and the money will transfer automatically to the child, and not get frozen, upon the parent’s death. Although

Some Basic Guidelines for Long Term Care Medicaid

For most families who are considering the necessity of more care for their loved ones, the costs for advanced care can be extremely scary. The State offers a program, Long Term Care (LTC) Medicaid, which will assist in paying for the care your family member may need. The individual needing care must meet a functional, nursing home level of care which will be assessed by a qualified case manager with the county. This does not