Posts Tagged ‘long term care’

Article 111-Estate Planning Series: It Can Happen In An Instant

Written by Wright Law on . Posted in Estate Planning, Long Term Care

Many, including seniors, see long term care as an issue to be addressed in the future. Because it is usually associated with the frailties of age, it is also assumed they will be able to anticipate the need for long term care, and plan accordingly. 

Unfortunately, the need for long term care too often arises suddenly.  The lifestyle and independence to which seniors are accustomed can be forever changed without any advance notice or indication.

Article 109-Estate Planning Series: The Cost of Medicaid for Long Term Care

Written by Wright Law on . Posted in Long Term Care

Although Medicare is not intended to provide assistance to seniors in need of long term care, under certain circumstances, Medicaid will provide that assistance.    I believe Medicaid is a critically important safety net to assist our most vulnerable senior citizens in need.  Therefore, it may seem ironic that the purpose of this column is to encourage you to avoid relying on Medicaid if possible.

Article 108-Estate Planning Series: Will Medicare Pay for My Long Term Care?

Written by Wright Law on . Posted in Long Term Care

Last column I explained the options to pay for long term care are limited.  Adding to the problem is a significant amount of incorrect information about what those options are.  For example, many seniors erroneously believe Medicare will pay long term care costs.  This is not correct.

On the other hand, upon meeting certain conditions, Medicaid will pay for long term care.   I understand why people confuse the two.  Not only do the terms sounds similar but, in some cases, Medicare provides assistance for some of the same types of health issues as Medicaid. 

Article 82-Estate Planning Series: The Critical Link Between Retirement Planning and Estate Planning

Written by Wright Law on . Posted in Estate Planning, Long Term Care, Will

For most of us, retirement is a goal we hope will allow us to enjoy the fruits of previous sacrifices.  While advance preparation clearly increases the likelihood that we can enjoy our golden years, there are many circumstances that dictate whether retirement is an opportunity or a burden.

Article 70-Estate Planning Series: Is It Too Late?

Written by Wright Law on . Posted in Estate Planning, Long Term Care, Will

I met recently with a man who asked me if it was too late.  I could not give him the assurance he wanted.  His mother was a stroke survivor; and recently had a serious fall.  These are two of the most common reasons seniors need long term care, and both can occur in an instant.  Seniors make up almost two thirds of those hospitalized for a stroke.  Similarly, falls are the leading cause of both fatal and nonfatal injuries for seniors.

Article 32-Estate Planning Series: Qualifying for Medicaid Assistance – Part 7 – Asset Limits

Written by Wright Law on . Posted in Estate Planning, Long Term Care

In the last several columns, I have addressed the medical and financial requirements necessary for seniors to receive Medicaid assistance with long term care.  You may have noticed that nowhere in those columns did I mention the so called “5 year rule,” a rule that many have heard about but do not really understand. 

Article 31-Estate Planning Series: Qualifying for Medicaid Assistance – Part 6 – Asset Limits

Written by Wright Law on . Posted in Estate Planning, Long Term Care

To qualify for long term care assistance from Medicaid, a senior applicant must establish both health and financial need.  Financial needs are determined based on both the income and the assets of the applicant.  In recent columns I have addressed Medicaid’s income limit.  Starting with this article, I will address Medicaid’s asset limit.

Article 29-Estate Planning Series: Qualifying for Medicaid Assistance – Part 4 – Income limits

Written by Wright Law on . Posted in Estate Planning, Long Term Care

In recent columns, I have been addressing how a senior must qualify before Medicaid will assist with the cost of long term care.  One requirement is to establish financial necessity, which requires a review of the Medicaid applicant’s assets and monthly income.  This column will address the income requirement to qualify for Medicaid. 

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