Category: Finances

Resources to Help You Cover the High Costs of Assisted Living

Many Americans pay their assisted living costs out of pocket. Income sources such as Social Security, veteran pensions, regular pensions, and savings are often key to covering these costs. A recent article discusses several other resources that may assist qualified seniors in paying for needed care. Veteran’s Aid and Attendance Benefit If you or your[...]

Financial Issues and Aging Parents

While it may be difficult, it is important to have financial conversations with your elderly parents. These conversations are important because they will best prepare your family to cope when a parent loses the ability to handle his or her money and other affairs. A recent article discusses several issues you should be sure to[...]

Do The Wealthy Use Medicaid?

A common estate planning strategy often discussed is the “Medicaid spend down.” This occurs when a person reduces his or her assets so that he or she can qualify to receive Medicaid benefits. Medicaid, of course, is an entitlement program. Individuals rely on Medicaid as a last resort to cover the astronomical costs of long-term[...]

Protecting Against Elder Abuse in Finances

A recent article suggests that, while senior citizens should plan inheritances and give gifts of money or property if they are willing and able, they should put their foot down when family members ask them to co-sign or guarantee loans. Otherwise, senior citizens may be left with nothing. A little discussed but serious problem facing[...]

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