Harry Felsenthal, Certified Aging in Place Specialist
Licensed Contractor, State of Florida
Call Harry Enterprises, Inc.
Lutz, Florida 33549
813-505-3329
www.CallHarryEnterprises.com
Member of the national ElderCare Matters Alliance, Florida chapter
Read more on This Week's Article on ElderCareMatters.com: "Aging in Place Means Aging in Your Home"…
Russell Hodges, Esq., Managing Partner
Hodges Law Firm, LLC
Atlanta, Georgia 30040
www.RHodgesLaw.com
Member of the national ElderCare Matters Alliance, Georgia chapter
Personal Care Contract Payment to Family Members: ANOTHER MEANS OF ASSET PROTECTION
James J. Ruggiero, Jr., Esq., AEP
Ruggiero Law Offices
Paoli, Pennsylvania 19301
610-889-0288
www.PaoliLaw.com
"ARE YOU HAVING A BAD HEIR DAY?"
As Benjamin Franklin once said, “You may delay, but time may not.” No truer are these words than in the case of estate planning. The average person allows 10-to-15 years to elapse before revising his or her estate plan. Life’s ups and downs, and the impending estate tax law changes, present the opportunity to protect your legacy.
Read more on Article of the Week on ElderCareMatters.com: "ARE YOU HAVING A BAD HEIR DAY?"…
Gregory D. Roberts, CFP, CLU, ChFC, CLTC, EA
Life Solutions
Aiken, South Carolina 39803
803-617-9805
Member of the South Carolina chapter, national ElderCare Matters Alliance
Asset-Based Solutions for Long Term Care Coverage are Gaining Favor
Dennis B. Sullivan, Esq., CPA, LLM
Estate Planning & Asset Protection Law Center of Dennis Sullivan & Associates
888 Worcester Street, Suite 260
Wellesley, MA 02482
781-237-2815
Member of the national ElderCare Matters Alliance
John E. Settle, Jr., Esq.
John E. Settle, Jr., Attorney at Law
1915 Citizens Bank Drive
Bossier City, Louisiana 71111
318-742-5513
Member of the Louisiana chapter of the national ElderCare Matters Alliance
Read more on Article of the Week on ElderCareMatters.com: "The Internet and Elder Law"…
Angela N. Manz, Attorney at Law
The Law Office of Angela N. Manz
Virginia Beach, Virginia 23452
757-271-6275
Member of the national ElderCare Matters Alliance
There are several government benefits available to seniors who need help paying for extended care. However, the qualifications and requirements for these benefits can often be complicated and confusing, leaving many people unsure of how to qualify or whether they are applying for right benefit for their family.
Philip C. Benedict, CFP
Benedict Financial Advisors, Inc.
Atlanta, Georgia 30328
770-671-8228
Member of the national ElderCare Matters Alliance
What would make most people happier? Better health? More friends? More time with children and grandchildren?
Read more on Article of the Week on ElderCareMatters.com: "What do most of us want more of?"…
Heather R. Chubb, Life Transitions Lawyer
The Chubb Law Firm
Gold River, California 95670
916-635-6800
Member of the national ElderCare Matters Alliance
Do you remember the uncomfortable feeling you had when your mom or dad sat you down to have “the talk”? Well, I want you to have a talk of a different kind with your parents. This next talk may make you and your parents just as uncomfortable as the first one, but it’s equally as important. I want you to talk to your parents about their estate plan. Read more on Article of the Week on ElderCareMatters.com: "THE SECOND TALK"…
Read more on Article of the Week on ElderCareMatters.com: "THE SECOND TALK"…
Dennis Duncan, Attorney at Law
The Law Offices of Dennis L. Duncan, P.C.
Macon, Georgia 31210
478-254-4232
Member of the national ElderCare Matters Alliance, Georgia chapter
The collective goals of Mr. and Mrs. Marlowe are to protect their family assets for the future benefit of Mrs. Marlowe, their grown children and grandchildren, and accomplished this while at the same time establishing compensability for Mr. Marlowe for Medicaid benefits. The Marlowe family estimate that Mr. Marlowe will need to transition into a long-term skilled care facility in the next two to five years. Read more on Article of the Week: "An Elder Law Case Study – Medicaid and Estate Planning for Mr. and Mrs. Marlowe"…
Dagmar M. Pollex, Esq.
The Law Offices of Dagmar M. Pollex, P.C.
Braintree, Massachusetts 02184
781-535-6490
Member of the national ElderCare Matters Alliance, Massachusetts chapter
Today, the risk of losing your life savings to a long term care illness looms as the largest threat to your future security. That’s why one of the biggest questions and concerns many people have about their lifetime financial security is what would happen if they suffer a long term disabling illness, such as Parkinson’s disease or Alzheimer’s. Read more on Article of the Week: Protecting Your Savings From the Devastating Cost of Long Term Care…
Shannon Martin, M.S.W., CMC
Aging Wisely, LLC
Clearwater, Florida 33756
727-447-5845
Member of the national ElderCare Matters Alliance, Florida chapter
If your loved one is hospitalized, the hospital discharge process is a key transition time. Within 90 days of hospital discharge, as many as 35% of Medicare recipients will be readmitted to the hospital.
Without proper support and resources as well as good understanding of follow up instructions, many individuals will return to the hospital for reasons that could have been avoided. No one wants this, and it can be especially dangerous for elders and persons with chronic conditions.
If you are a family caregiver and an elderly loved one is hospitalized what can you do to ensure a safe transition after the hospital stay? Read more on Article of the Week: Ensuring a Safe Transition for Your Loved One After a Hospital Stay…
Ben A. Neiburger, JD, CPA
Neiburger Law, Ltd.
Elmhurst, Illinois 60126
630-782-1766
Member of the national ElderCare Matters Alliance, Illinois chapter
In my elder law practice, a frequent topic of conversation with my clients is how to pay for long-term care. This is an understandable concern given that many long-term care facilities in Northern Illinois charge between $6000 and $8000 per month for care – that’s $72,000 to $96,000 per year!). A typical married couple in their 70’s may have only $50,000 to $200,000 in life savings plus their home. This means that if one spouse needs to spend some time in a long-term care facility, he or she could burn through the couple’s life savings in a year or two – a very scary thought.
Read more on Article of the Week: Paying for Long-Term Care – Can it be done?…
Susana Lannik, Attorney at Law
Lannik Law, LLC
Newton, Massachusetts 02458
617-658-2980
Member of the national ElderCare Matters Alliance, Massachusetts chapter
Joe and Henrietta, ages 80 and 75, have been married for fifty years. They have two children, Joe, Jr. and Liz. Joe and Henrietta own their own home and have savings of $170,000. The home is held jointly; the bank accounts are also held jointly with right of survivorship to each other. Joe is a World War II veteran and has Social Security benefits of $1,200 per month, while Henrietta receives $600 per month. Liz lives with her parents, but works outside the home. Read more on CASE STUDY: Developing an Estate and Elder Law Plan for Joe and Henrietta…
Scott A. Makuakane, Esq., CFP
Est8Planning Counsel LLLC
Honolulu, Hawaii
808-587-8227
Member of the national ElderCare Matters Alliance, Hawaii chapter
Callie Rogers, age 16, won $3.1 million in a British lottery. By the age of 22, the unwed mother of two, having attempted suicide twice, and having spent over $400,000 on cocaine alone (in addition to more conventional luxuries), was broke, living with her mother, and working three cleaning jobs. She described her sudden windfall as having ruined her life, and she was looking forward to finding happiness once her winnings were gone. Read more on Easy Come . . . Easy Go. There are Ways to Protect Your Legacy…
Alex Chamberlain
EasyLiving, Inc.
Clearwater, Florida
727-448-0900
Member of the national ElderCare Matters Alliance,
Florida chapter
Aging in place has grown increasingly popular throughout the country. According to an AARP survey, 70-80% of respondents say they would prefer to live out their days in their own homes. It is understandable that so many people choose to age comfortably in their own home rather than re-locating to a nursing home or assisted living facility. However, many matters must be considered when financing longevity. Below are some points to take into consideration in order to adequately plan for one’s future: Read more on How to Finance for Longevity and Aging in Place…
Wayne Abraham
Personal Care, Inc.
Greensboro, North Carolina
336-274-9200
Member of the national ElderCare Matters Alliance,
North Carolina chapter
If you or a family member reach a point when you believe it is time to use that long term care insurance policy that was purchased, what do you do? All too often people don’t read the fine print on their policies and aren’t sure how to go about accessing them when they need them.
There are some basic things to keep in mind when you have reached this point. First of all, do you qualify? Different policies have different requirements for what constitutes eligibility. The industry standard is that you must need help with at least two activities of daily living or ADLs. These include tasks such as bathing, dressing, toileting, and others.
When you contact your long term care insurance company about activating your policy and receiving benefits they will send an RN out to do an assessment as well as contacting your doctor. Below is a list of items that insurance companies use in order to determine whether or not you are eligible to receive those benefits. Read more on How to Access Your Long Term Care Insurance Benefits…
Kenneth C. King, Jr., Esq.
King Law Group, P.C.
Roanoke, Virginia
1-866-985-1123
Member of the national ElderCare Matters Alliance, Virginia chapter
The holidays are the best time of the year for talking T-U-R-K-E-Y. As you savor turkey and gravy and once again remember how good the green bean casserole really tastes, gather your family into a "Time to Talk Turkey" about your family's Love 'n Money. The holidays are the right time to formulate and discuss your family's plans, including your estate plans.
To get you started, during a large helping of mashed potatoes and gravy, here is a simple formula for family discussion: talk T-U-R-K-E-Y(the "Turkey" topics are in the following paragraphs). For each Turkey topic, discuss who, what, when, where and how. It is that simple. So, let's get talking T-U-R-K-E-Y about your family's Love 'n Money. For each letter in "Turkey", we'll get you started with some questions. Now, it is your turn to provide the discussion. Read more on Time to Talk T-U-R-K-E-Y…
Linda S. Melancon, Attorney at Law
Legacy Center of Louisiana, LLC
Prairieville, Lousiana 70769
225-744-0027
Member of the national ElderCare Matters Alliance, Louisiana chapter
While it may be the rare individual who can afford to retire during the "Great Recession," for those close to retirement age or contemplating retirement, a basic understanding of retirement planning terms and options is imperative. There are many different things that you need to understand regarding retirement planning, but some of the most important are: understanding what type of plan you have and when distributions can or must be taken; understanding spousal rights in employment plans; understanding social security retirement benefits; and understanding if and when any unused retirement benefits will pass to your heirs.
Read more on Retirement Planning Basics…
David Paul Pollan, Esq.Nursing Home care can cost $8,500 to $10,000 per month. Few people can afford to pay privately for long-term care indefinitely.
All too often, elders assume Medicare will cover continuous nursing home care should the need arise. In fact, Medicare has a very limited "skilled rehabilitation" benefit and for only a maximum of 100 days per spell of illness. Beyond the 100 day maximum benefit period, an individual will either pay privately or seek eligibility for "Nursing Home" Medicaid. Nursing Home Medicaid is an available payment source for continuous nursing home placement for those individuals who meet financial eligibility criteria. Read more on Nursing Home Medicaid and Estate Planning Considerations…
Allen Kampf, RFC, CLTC
Wealth Advocacy Partners
Sparks, Maryland 21152
410-527-1171
Member of the national ElderCare Matters Alliance, Maryland chapter
As the number of elderly Americans increases, long-term care (LTC) needs and costs are likely to grow. Many believe that private long-term care insurance can and should play a more significant role in the financing of home care and nursing home services. Wider use of such insurance could shift the burden from individuals, who are often ill-prepared to pay for such care out-of-pocket, as well as from state Medicaid programs, which often serve as a default financier of long-term-care services. Read more on Long Term Care Partnership Programs…
Richard M. Morgan, JD, LLM
Morgan and DiSalvo, P.C.
Alpharetta, GA 30022
678-720-0750
Member of the national ElderCare Matters Alliance, Georgia chapter
Executive Summary: Converting your investments in traditional IRAs to a Roth IRA during 2010 can be an important planning opportunity for many tax payers. This conversion allows you to move from a tax deferred environment into a tax free environment. While this opportunity is normally open to those with income below a certain cap amount, during 2010 no such income cap exists. Further, while such conversion is an income taxable event (but without any penalties), conversions during 2010 give you the option to defer the taxable income by recognizing 1/2 in 2011 and 1/2 in 2012. Read more on Window of Opportunity: Convert Traditional IRA to a Roth IRA During 2010…
Allen Kampf, RFC
Wealth Advocacy Partners
Sparks, Maryland
410-527-1171
Member of the national ElderCare Matters Alliance, Maryland chapter
As a result of medical technology, we are definitely living longer. When we continue living, we age; when we age, we need care. It isn't a question of who will care for you. The question is, "What impact will that care have on your family – physically, emotionally and financially?" Read more on Who Pays for Long-Term Care?…
Read more on Who Pays for Long-Term Care?…
By Sanford J. Mall, JD, CELA
Mall Malisow & Cooney, P.C.
Farmington Hills, Michigan
248-538-1800
Member of the national ElderCare Matters Alliance, Michigan chapter
Elder law is a specialized area of law that focuses on assisting older individuals and those with disabilities preserve their dignity, protect their assets, and make good decisions despite increasingly complicated laws. This specialty encompasses such areas as planning and paying for long-term care, asset preservation, housing options, disability planning, estate planning (including the use of financial and health care durable powers of attorney), and when necessary, the involvement of the probate court.
Read more on Understanding Elder Law…
By Philip C. Benedict, CFP
Benedict Financial Advisors
Atlanta, Georgia
770-671-8228
Member of the national ElderCare Matters Alliance, Georgia chapter
Over the years, I have brought up the topic of long-term care insurance with my clients and friends. Some got coverage, but many did nothing. So, I asked a few of the "do nothings" why they took no action.
Read more on Long-term care insurance is not only for nursing homes…
By Jeff Bernier, CFP, ChFC, CFS
TandemGrowth Financial Advisors, LLC
Roswell, Georgia
770-641-6360
Member of the national ElderCare Matters Alliance,
Georgia chapter
In the face of volatile investment markets, rising medical costs, increased taxes, and uncertain social security benefits, many retirees are looking for solutions.
Read more on Take a critical look at financial instruments…
By Robert M. Bregitzer, CPA
Southeast Mortgage
Dunwoody, Georgia
770-399-7775
Member of the national ElderCare Matters Alliance,
Georgia chapter
When Mildred Austin inquired about a reverse mortgage, she did not know much about them. "All I knew was that this could help me; I needed someone to explain it to me". After talking with a Department of Housing and Urban Development (HUD) Counselor, meeting with a reverse mortgage specialist, and discussing the options with her advisors, she decided that a reverse mortgage was her best option. "I was able to make needed repairs to my house, pay-off my existing mortgage loan and several medical bills and obtain a monthly check to supplement my social security. This loan has been a blessing."
Read more on The Reverse Mortgage: Some Seniors Can't Stay Home Without It…
By Phillip G. Sanders, MBA, MSHA, CPA
Georgia ElderCare Advisors, LLC
Atlanta, Georgia
770-379-4500
Member of the national ElderCare Matters Alliance,
Georgia chapter
During the last several years, I have had the honor to address my colleagues at the AICPA's (American Institute of Certified Public Accountants) National ElderCare conference in Phoenix, and to serve as a panelist at the day-long nationally televised symposium for ElderCare professionals in Dallas. The overriding message I heard from fellow CPAs and attorneys was the importance of setting into place NOW a long-term care plan — a plan that details how you will finance your and your family's future ElderCare needs.
Read more on Experts Agree: Plan Now for Future ElderCare Needs…
By Philip C. Benedict, CFP
Benedict Financial Advisors, Inc.
Atlanta, Georgia
770-671-8228
Member of the national ElderCare Matters Alliance,
Georgia chapter
Raymond and Sally are what almost everyone wants to look like and act like when they pass their 80th birthday.
Sally still volunteers at the local elementary school and Ray is a landmark at the local golf club. They seem to have everything – good health, a fine daughter and son-in-law and three adorable grandchildren. Their lifestyle, while not extravagant, could not be considered modest either. Read more on Overspending is more than simply spending your children's inheritance…
By Jeff Bernier, CFP, ChFC, CFS
TandemGrowth Financial Advisors, LLC
Roswell, Georgia
770-641-6360
Member of the national ElderCare Matters Alliance,
Georgia chapter
When was the last time you talked with an investment professional who didn't promote diversification? Stocks, bonds, cash, real estate, some international as well as domestic investments–it's called asset class diversification and it's a principle of sound investing.
Read more on INVESTING: Avoiding Long-Term as well as Short-Term Risk…