Long-Term Care: Protecting Yourself from Unplanned Expenses

Folks looking ahead to their twilight years often worry about losing their life’s work to long-term care facility fees. For some, the solution is simple: rely on children and loved ones for needed support. Unfortunately, this does not always work out. State law dictates that should you end up in a condition where staying at home is deemed unsafe, a qualified nursing facility must take over care. If caught by this unprepared, the consequences can be costly. Accordingly, everyone ought […]

Long-Term Care

Basics of Medicaid

Basics of Medicaid What You Can & Cannot Keep  Dear Friend,    We meet with families on an almost daily basis to discuss Medicaid qualification, and the number one question we receive is, “How can I qualify for Medicaid without having to get rid of my life’s savings?” This is a valid question, as their are assets that Medicaid considers exempt and assets that are “countable.”  I have attached our “Basics of Medicaid” white sheet that provides a general overview of […]

medicaid planning basics

Why Clients Fail To Plan For Long-Term Care, Part III

Dear Friend,      Misconceptions Americans have about long-term care as well as who will need it, as well as the need for coordinated care can hinder a client from planning for their long-term care. In my final look at this topic, we will review the cost as well as how to adequately prepare. The Cost of Long-Term Care    The Genworth Cost of Care Survey of 2015 showed a lack of understanding by many of coverage for long-term care by Medicare, […]

Why Clients Fail To Plan For Long-Term Care, Part I

Dear Friend,      Most Americans do not know, or refuse to accept, the facts surrounding their potential need for long-term care and the costs associated with it.  This was reconfirmed recently in a telephone survey of 1,735 Americans over the age of 40, funded by the SCAN Foundation and conducted by the Associated Press (AP) – NORC Center for Public Affairs Research (“survey”).[1]  This survey highlights many of the misconceptions Americans have about long-term care, including: The potential that […]

Knowledge is Power

Knowledge is Power Dear Friend, Happy New Year to you and yours! It is my hope that 2016 has started well and will be a prosperous year. Our firm has prided itself on being a resource to our community, clients and allied professionals since we opened our doors in 1997. We provide free monthly workshops in our offices and give presentations throughout our community and the four-state area all year. We also have many written resources that we provide through […]

Asset Protection: What Are You Afraid Of?

Asset Protection: What Are You Afraid Of?   Asset protection is something most people desire but are unclear on how to obtain it. The first step is to know what you’re afraid of…and when you should be afraid. Attorneys, accountants and other professional advisors should be very clear on the key distinctions of asset protection and the types of asset protection that can be obtained. Litigation, bankruptcy, divorce and catastrophic Illness are all valid concerns. What is the best way […]