Working With Care Facility Staff

When advising the elderly or their family members with regard to long-term care, you may want to consider providing counsel as to what your client can expect when interacting with staff members at a long-term care facility. Initially, completing the necessary paperwork ahead of the move will allow...

How the New Jersey Long Term Care Insurance Partnership Program Works

About half the population who will reach the age of 65 are expected to enter a nursing home at least once in their lifetime. A 55 year-old New Jersey (NJ) resident is expected to pay over $300,000 for one year of nursing home care when they are likely to need it at the age of 80. Based on the average...

Partnership Qualified Long Term Care Insurance Policies

Some insurance companies offer Partnership Qualified long term care insurance policies. Following is an explanation of what those policies entail and what advantages they may provide, as well as background on the New York State Partnership for Long Term Care. The Problem – Limited Benefits...

Combination Long-term Care Products

A recent Financial Planning Magazine article discusses new tax laws that may increase the popularity of combining life insurance and annuities with long-term care insurance. Long-term care ("LTC") insurance sales have been in a decline over the past several years. Many believe that...

Long-term Care Partnership Program and Medicaid

Long-term care partnership programs encourage the purchase of private long-term care insurance as the primary source of funding of long-term care for the participant. This is because the program enables insurers to offer specially crafted long-term care insurance policies that increase a family's...

2010 Elder Law Numbers

There are several figures of interest to seniors and their families for 2010. They include long-term care spousal standards, annual gift tax exclusion rates, long-term care premium deductibility limits, and Social Security benefit changes. The Center for Medicare and Medicaid Services (CMS) has announced...

Love May Not Be Enough: Forced to Divorce to Pay for Long-term Care

Divorce rates in the U.S. have skyrocketed over the past few decades, even among those over age 65 years of age. Elder law attorneys suspect that issues regarding money may be to blame for the rising divorce rates among the elderly. Instead of fighting over money, however, older people who divorce may...

Aging in Place

One of the most common concerns seniors have is whether they will be able to stay in their homes for as long as they want. Most people prefer to age in place rather than to move to a long-term care facility as they get older. There are many financial concerns to consider with aging in place; however...

Acting Your Age When Making Investment Choices

Making Wise Decisions in Plenty of Time The attorneys at Oast & Hook are frequently asked to assist clients with financial planning for their retirement or the payment of long-term care. Unfortunately, we find that clients have often made significant mistakes in their investment planning...

McNees Wallace & Nurick LLC: Planning and Paying for Long-Term Care (Part 2 in a Series: Medicare)

By Scott Alan Mitchell As discussed in Part 1 of this series, the U.S. Department of Health and Human Services estimates that at least 70% of people over age 65 will need long-term care services at some point in their lives - and over 40% will need care in a nursing home for some period of time...

McNees Wallace & Nurick LLC: Planning and Paying for Long-Term Care (Part 3 in a series: Long-Term Care Insurance)

By Scott Alan Mitchell As the name implies, long-term care insurance (LTCI) is an insurance policy that individuals can purchase to pay for some or all of the costs of long-term care. LTCI often covers not only skilled nursing care but also assisted living, personal care, in-home care, respite...

Florida's Qualifying Special Needs Trusts

By Mary Alice Jackson * In Florida, a "qualifying special needs trust" can be included for an ill spouse in the healthy spouse's Last Will. All funds transferred into that trust will be excluded from consideration for Medicaid long-term care benefits, thus providing the ill spouse with...