Author Archives: Site Administrator
Which Medicare Expenses will Increase in Cost Next Year?
Several premiums and deductibles for those seniors with the traditional Medicare health insurance are increasing for the new year, the federal government announced in early November. Money Talks News’s recent article entitled “These Medicare Expenses Will Jump in January” reported that the rising costs include the following: The 2021 Medicare Part B standard premium… Read More »
Are Alzheimer’s and Dementia the Same Thing?
Dementia is an umbrella term used to describe a group of symptoms that affect memory, communication abilities and activities of daily activities. Alzheimer’s is the most common cause of dementia. It affects roughly 60-80% of the people with dementia. Alzheimer’s is a specific disease, and dementia is a syndrome or category, explains The Advocate… Read More »
Beware of Do It Yourself Planning
We hear this question all the time: “Can’t I just grab a will off the internet, do a transfer-on-death deed for my land, put my kids on my bank account, and be done with my estate plan?” It’s just not a good idea. For the plan to work as you would want it to,… Read More »
How Should I Go about Researching Assisted Living Facilities?
This can be a daunting task because there are so many different types of facilities to care for aging seniors. Each type has different services and accepts different payment sources. US News & World Report’s recent article entitled “What Is the Best Way to Research Assisted Living Facilities?” says that there are plenty of… Read More »
Households with Higher-Incomes and Biden Tax Reform
As Americans look ahead to a Biden Harris Administration, noting the President-elect’s tax plan is crucial for higher-income households to understand and likely make adjustments to their financial and legacy planning. Generally speaking, the sweeping changes to the tax code will aim to levy higher taxes on corporations and high-income households. It will also… Read More »
The Coming Collapse of Long-Term Care Health Insurance
Routine estimates predict that about 50 percent of older adults will require long-term care at some stage of their lives. If you are an adult 65 or more, the percentage moves up to 70 percent. However, the demand for long-term care far outnumbers an affordable or even existing supply. For years the private sector… Read More »
Know Your Parents’ Aging Strategies Before a Medical Crisis Hits
Many adult children in the US live far away from their parents. Managing aging parents or in-law medical events can be a serious challenge without proper preparation and understanding of what your parents’ strategy may or may not be, no matter where you live. Do you know what legal documentation your parents have in… Read More »
What Is Purpose of an Irrevocable Life Insurance Trust?
Irrevocable Life Insurance Trusts, or “ILITs” are life insurance policies owned by irrevocable trusts used to manage taxes on estates. There are complexities to using an ILIT, but the benefits for some people could be big, according to the article “What Advisors Should Know About Irrevocable Life Insurance Trusts” from U.S. News & World… Read More »
Homeownership and Medicaid Can Be Problem
The challenges begin when homeowners don’t do any Medicaid planning and decide the best answer is simply to gift their home to their children. It doesn’t always work out well for the homeowners or their children, warns the article “Owning real estate without jeopardizing Medicaid paying for nursing home” from limaohio.com. This issue requires… Read More »
Does Sleep Help with Alzheimer’s?
The brain is the center of the nervous system and controls thought, memory, emotion, touch, motor skills, vision, respiration and every process that regulates your body. As we age, it becomes increasingly important to care for the brain — especially to prevent conditions, like Alzheimer’s and other neurodegenerative diseases. Considerable’s recent article entitled “Deep… Read More »