Elderly parents generally prefer to remain living in their own homes as long as possible. However, remaining in their homes becomes a concern when children see their parents slowing down or starting to have trouble with handling … [Read more...]
Print This PagePutting Home Care in Perspective
July 16, 2009 by
The Evolution of Home CareIn the first century of our country's history there was no such thing as nursing homes or assisted living. Society was mostly rural and people lived in their own homes. Families cared for their loved … [Read more...]
Print This PageUpdate on Virginia Life Estate Law
July 8, 2009 by
In June of last year, I wrote that "in the near future, life estates will no longer be considered exempt assets when applying for Medicaid." This was due to the fact that the Virginia General Assembly had recently passed … [Read more...]
Print This PagePlanning for Long-Term Care (Part 3)
February 26, 2009 by
In Part 1 of this series I outlined the necessity to create a good Long Term Care Plan and in Part 2 I discussed the three most essential documents found in that plan.The first essential document is a General Power of Attorney … [Read more...]
Print This PageMedicaid Asset Protection
August 22, 2008 by
What is Medicaid Asset Protection? Medicaid Asset Protection is the process of protecting assets from having to be completely spent to pay for the devastating expenses of long-term care, while helping to ensure that you (or your … [Read more...]
Print This PageLife Estate Law Changing Soon
June 16, 2008 by
See update on this article here.In Virginia, a life estate in real estate has always been treated as an exempt asset for the purposes of Medicaid eligibility. Unfortunately, the Virginia General Assembly recently passed … [Read more...]
Print This PageReverse Mortgage Home Equity Loans
February 1, 2007 by
For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a conventional home-equity loan. But a conventional loan really doesn't free up the equity because the money has … [Read more...]
Print This PageNew LTC Insurance Premium Deductibility Limits
December 1, 2006 by
The Internal Revenue Service has announced the 2007 limitations on the deductibility of long-term care insurance premiums from taxes. Premiums for "qualified" (see explanation below) long-term care policies are treated as an … [Read more...]
Print This PageAverage Nursing Home Room Tops $90,000 a Year
December 1, 2006 by
The average daily cost of a private room in a nursing home in Northern Virginia is $91,615 a year, or $251 a day, according to the 2006 MetLife Market Survey of Nursing Home and Home Care Costs.The average daily cost of a … [Read more...]
Print This PageWhen Should You Take Your Social Security Benefits?
November 13, 2006 by
As you approach retirement, you must decide when to begin taking your Social Security benefits. You have three options: You may begin taking benefits between age 62 and your full retirement age, you can wait until your full … [Read more...]
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