Some life insurance policies can affect Medicaid eligibility. In order for a nursing home stay to qualify for Medicaid coverage, an elder's assets cannot exceed $2,000 for a single person, or $109,560 for married couples.
Family caregivers work tirelessly to ensure their loved ones’ health and happiness, but many don’t realize that there’s a legal component to their role. Without these crucial healthcare documents, you may not be able to help when your elder needs it most.
There are many different legal and financial tools that can be used for Medicaid planning, estate planning and tax planning purposes. A living trusts are one popular option, but it is important to know how this tool works and make sure this is the best fit for your assets, personal situation and goals.
Many adult children and caregivers are concerned about how their parents' debts will be handled once they pass. For parents who are in long-term care facilities, there may be some states where children might be responsible for their bills.
Some individuals may consider transferring property to a trusted family member as a part of their estate plan or Medicaid planning. However, there are a few different scenarios to consider before opting for such a strategy to ensure you do not lose the property altogether.
What can a POA do? Whether you’ve been named as someone else’s power of attorney (POA) or you’re looking to appoint one for yourself, know what responsibilities and limitations come with this designation.
Power of attorney documents allow caregivers to advocate for their loved ones, but some institutions require additional documentation. See what specific permissions you’ll need to access personal information and make vital decisions.
Power of attorney is a very useful legal tool for securing the future of your financial affairs in the event that you become incapacitated. A keen understanding of POA can keep you and your family from running into untimely problems down the road.
A lawsuit brought against legendary singer Glen Campbell, who was recently diagnosed with Alzheimer's disease, highlights the serious responsibilities that develop when we delegate authority with a POA.
When a loved one is nearing the end of their life, it can be difficult to know what kind of care to arrange for them and where. Hospice, palliative care, home-based care, hospital-based care, and long-term care facilities are all viable options.
These strategies can be used to help plan final arrangements for yourself and your loved ones. Frank discussions about funeral planning are wise to have at any age. Don't put it off until it is too late.
Planning a funeral involves making decisions about a loved one’s legacy while under considerable emotional stress. Understanding what must be taken care of and making arrangements in advance can expedite the process and minimize costs.
When a loved one is nearing the end of their life, caregivers and family members often have many questions. This guide to end-of-life care addresses the most common concerns regarding the dying process.