Low-income individuals and families can obtain health insurance through Medicaid. However, because of the steep costs associated with long-term care, Medicaid planning is a growing trend for individuals with higher net worth as an alternative to spending down assets to…
Medicaid is a federal program that provides financial assistance to individuals who meet the minimum income and asset requirements for nursing home care, assisted living, in-home care, and adult foster care. As a result of these rules, many candidates give…
Along with the SECURE 2.0 Act in December 2022, tax provisions were recently incorporated into the Inflation Reduction Act (IRA), which became law in August 2022. Lower-income household tax code changes will automatically take effect. Households of higher income and…
Guardianships and conservatorships are legal arrangements for adults with developmental disabilities who are incapable of making important decisions or caring for themselves on their own. Establishing a legal guardian is the job of the court, which appoints a person (guardian)…
When you become seriously ill or injured, nursing home care can be astronomically expensive. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet if you’ve heard…
Parents planning for their adult children’s future well-being as their disabilities change is a responsive, ongoing process as their needs may change. A Journal of the American Medical Association reports the life expectancy of adults with Down Syndrome has increased…
The living will is a legal document that describes your medical preferences if you can’t make those decisions for yourself. Incapacity can happen for many reasons, including an accident, an illness rendering you too sick to communicate, dementia, anesthesia, a…
It’s unpleasant to think that a traumatic event or a chronic illness might incapacitate you. People experience this every day, unfortunately. With this knowledge, many people like to prepare in advance for the kind of treatment they want in the…
The acronym LASA, which stands for “look-alike-sound-alike”, is commonly used when referring to medications. When it comes to federal programs, Medicaid and Medicare, in written form, look alike and they do sound alike but work very differently. Both Medicare and…
In general, an annuity consists of an annual payment that is made for the rest of the annuity owner’s life. Most annuities are deferred, meaning the payout doesn’t occur until a later date. However, you can receive immediate payouts if…