Listen Here! This week on Make It Last Victor explains the importance of utilizing your financial advisor (in hand with your Accountant) to proactively do your tax planning. Let's get familiar with healthcare. Most people are unfamiliar with the ins and outs of healthcare in retirement. Not to worry! Victor will give you the full breakdown[...]
Forbes says you’d have to a policy wonk or an outright nerd to care about statistical models for long-term care insurance. Well, we’re guilty as charged. But that’s okay — Forbes cops to its nerdy inclination too. Earlier this month, the magazine delved into the latest stats on long-term care in America. The numbers are[...]
While the families are happy to hear a longer prognosis, those extra years with their loved ones come at a profound financial cost, climbing toward a million dollars in some cases. This month, USA Today explains how a dementia diagnosis can easily add up to $730,000 for a typical family. Consider the following: The national[...]
Times are changing for nursing homes. View image | gettyimages.com For the last several decades, American residents and their families have generally expressed widespread dissatisfaction with the state of nursing home care. After all, the homes are universally expensive (and growing costlier all the time), and the ballooning bills sting all the more when prices[...]
Often clients come into my office asking what is the difference between a revocable and irrevocable trust. It seems simple - one is changeable and one is not, right? Well, not so fast. Let's start with the easy one — Revocable Trust. A revocable trust is precisely what it says it is - a[...]
Few diagnoses are more devastating than Alzheimer’s, both in terms of its health toll and its extraordinary financial imposition on families. Paying for long-term care isn’t easy, especially if you or your parents haven’t already been saving for years. Even well in advance, finding the extra money to set aside for a long-term care fund[...]
Sometimes elder care feels a little bit like booking a hotel room. https://gty.im/467305389 As one of the world’s most widely recognized travel organizations, AAA offers discounted rates at big-name hotels all across the U.S. If you’re a member, you might be able to knock 10 to 15% off the rack rate. But those savings aren’t[...]
Some parents consider transferring ownership of their homes to their children. Why? Many believe that it is a classic win-win situation. They can continue to live in the house, while at the same time reduce the value of their estate for tax purposes and provide a valuable asset to their kids down the road. If[...]
Paying your grandchildren’s (or adult children’s) college tuition is one of the greatest gifts you can make. The education lasts a lifetime and opens a world of opportunity for your grandchildren. In a way, it is like giving a gift to your children as well, since it alleviates their concerns about paying for their children’s[...]
More New Jersey residents now qualify for Medicaid coverage, as a result of recent changes in federal funding brought on by the Affordable Care Act. A recent article estimates that the number of additional New Jersey residents who now qualify is around 300,000. The reason more New Jersey residents now qualify for Medicaid coverage is[...]