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?
Elder Law
Five Important Facts About Medi-Cal
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
Medi-Cal Can Preserve Your Legacy
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
Medi-Cal Parameters Adjusted for New Year
Before we get into the changes that have been made to the Medi-Cal parameters for 2020, we should explain why this program may be important to you at some point in time. The vast majority of senior citizens will qualify for Medicare when they reach the age of eligibility, which is 65 at the time of this writing. Simply put, if you have worked and paid taxes for at least 10 years, you will qualify for Medicare coverage. That’s the good news, but the bad news is that Medicare does not cover … [Read more...] about Medi-Cal Parameters Adjusted for New Year
Veterans Pension Can Give Seniors a Boost
There are many people from our area that have served in the United States armed forces. These individuals and their families make great sacrifices, but they do get certain rewards for their service. Most people are aware of the fact that people that spend at least 20 years on active duty become eligible for a retirement pension. If you join up, the longer you stay in, the higher the pension amount will be when you put your military career behind you. This provides a clear pathway toward a … [Read more...] about Veterans Pension Can Give Seniors a Boost
Can Medi-Cal Take Your Home?
Before we get to the specific subject of this blog post, we should explain why Medi-Cal may be relevant to you when you are a senior citizen. If you have worked and paid taxes for at least 10 years, or if your spouse has done this, you will qualify for Medicare when you reach the age of 65. This program will provide a health care insurance underpinning, but there are out-of-pocket expenses, and there is one huge gap. Medicare will pay for convalescent care after an injury or illness when … [Read more...] about Can Medi-Cal Take Your Home?
Will Nursing Home Costs Consume Your Legacy?
When you are considering what you will be able to leave behind to your loved ones after you are gone, you may be overlooking a huge potential expense. Retirement is viewed as a period of your life when you have a lot of free time to enjoy if you can afford to put your working years behind you. Planning ahead for this interim from a financial perspective will involve evaluating your anticipated ordinary living expenses. Once you are in a position to meet them, you may feel as though the … [Read more...] about Will Nursing Home Costs Consume Your Legacy?
Take Steps to Prevent a Guardianship
A guardianship proceeding could be convened if you were to become unable to handle your affairs as a senior citizen without taking any steps in advance to prepare for this contingency. Before you turn the page under the impression that you will never become incapacitated, you should understand some statistics. Incapacity can be caused by various different conditions, but there is one disease that completely changes the playing field. Everyone has heard of Alzheimer’s, but many are surprised … [Read more...] about Take Steps to Prevent a Guardianship
What Does an Elder Law Attorney Do?
The attorneys here at Schomer Estate & Wealth Advisors address elder law and estate planning concerns. In a general sense, everyone knows what inheritance planning is all about, but the same cannot be said about elder law. In an effort to provide an explanation in a manner that is easy to understand, we will provide a hypothetical conversation between a client and an elder law attorney. Why would aging be a legal matter? That is a very good question, because the term “elder law” can be … [Read more...] about What Does an Elder Law Attorney Do?
Will Medi-Cal Pay for In-Home Care?
Before we address the subject at hand, we must provide some necessary background information. When you are planning ahead for your retirement years, you will invariably envision the good times that lie ahead. Without question, if you make the right choices along the way with regard to saving, you will have the financial underpinning that you need to enjoy your golden years to the fullest. This is something that is fun to think about, and it should be, because people work hard all their lives … [Read more...] about Will Medi-Cal Pay for In-Home Care?
