When you start to reach your middle-aged years, you may spend a good bit of time helping your parents tend to their activities of daily living. Their needs will probably increase over time, and at some point, the level of care that is required may be beyond your capabilities.Under these circumstances, nursing home care may be the only logical choice. According to the United States Department of Health and Human Services, 35 percent of elders will eventually reside in nursing … [Read more...] about Will Your Parents Need Nursing Home Care?
Many people are surprised to hear that Medicare does not pay for a stay in a nursing home or assisted living facility, and it does not cover professional in-home care. Medi-Cal will pick up the tab, but since it is a need-based program, it takes careful planning to obtain eligibility.Medi-Cal Asset LimitsThe Medi-Cal limit on countable assets is $2000, and that can sound like an absolute dealbreaker, but some things that you own do not count. Your home is not a countable asset, and there is … [Read more...] about Overview of Medi-Cal Healthy Spouse Allowances
Los Angeles elder law attorneys have in-depth knowledge of the machinations of the Medi-Cal program. This jointly administered federal/state government health insurance benefit is relevant because it will pay for long-term care.Medicare will not pay for a stay in a nursing home or any other type of custodial care. This gap is considerable, because nursing facilities and in-home caregivers are very expensive. The state places an estimate on the average annual cost for nursing home care at … [Read more...] about What Is Medi-Cal Estate Recovery?
During the years between 1946 and 1964, an inordinate number of babies were born. This was the postwar era, when the demands of the military were not as great, and family life returned to normalcy. This phenomenon is called the “baby boom,” and these babies are now entering their senior years.As a result, there is an unprecedented aging of the population underway. Another interesting demographic reality applies to the age at which people have their first children. In 1972, the average age … [Read more...] about Are You a Member of the Sandwich Generation?
When you are planning for retirement, you probably envision the good times that you will have when it is time to enjoy the fruits of your labor. You can enjoy leisure activities, travel, spend time with family members and friends, and bask in your newly found freedom.These golden years can be rewarding, but it is important to consider the twilight period that will inevitably follow. Many people do not consider a looming threat that could potentially consume a lot of the legacy that you would … [Read more...] about Medi-Cal Planning Can Preserve Your Legacy
As elder law attorneys, we are highly sensitive to all circumstances that impact senior citizens. One of them is the looming threat of Alzheimer’s disease.Everyone has heard of this horribly debilitating disease, but most people do not understand how widespread it has become. We will provide all of the important details in this post, and we will also explain how it can impact you from a planning perspective.Aging StatisticsCensuses are taken every 10 years. A new one has been rolled out … [Read more...] about Acknowledge the Potential Impact of Alzheimer’s Disease
People that serve in the military make huge sacrifices for our country, but they do have access to some benefits that are very useful. Most people are aware of the fact that there is a veterans retirement pension that is earned after at least 20 years of service.This provides some great opportunities for veterans. The amount of the pension goes up depending on the length of service time. An individual could choose to spend their entire career in the military and earn a maximum pension as a … [Read more...] about Do You Qualify for the Veterans Special Pension?
When you are looking ahead toward your retirement years, you probably have some big plans on the agenda. You can travel to those places that you have always wanted to visit, enjoy your favorite leisure activities, and spend quality time with your family and friends.If you have taken the right steps along the way to prepare yourself financially, this part of your life can be very enjoyable. At the same time, from a planning perspective, it is wise to consider the eventualities that you may … [Read more...] about Will You Need Long-Term Care?
When you are planning ahead for your senior years as a person that will qualify for Medicare, you may assume that this program will satisfy your health insurance needs for life.If you have worked and paid taxes for at least 10 years, you will in fact qualify for Medicare when you reach the age of 65.It is important to understand the fact that there are out-of-pocket costs even if you have Medicare coverage. You should look into the facts so that you can budget appropriately. This … [Read more...] about Five Important Facts About Medi-Cal
When you are thinking about the trajectory of your financial situation as you enter your senior years, you can start to get a feel for the nature of your legacy. It is wise to see the complete picture so that you can take the right steps to provide for your loved ones in the optimal manner.People typically take retirement planning seriously, in anticipation of the golden years that will be full of travel, leisure time, and bucket list erasures. Unfortunately, many of the same individuals do … [Read more...] about Medi-Cal Can Preserve Your Legacy