Over the last century, the average life expectancy of an American has almost doubled. While living longer is certainly something we can all be thankful for, we can also expect to have to live with the effects of the natural aging process for much longer than our ancestors did as well. Consequently, we all stand a much better chance of needing long-term care (LTC) at some point before the end of our lives. If you (or a spouse) do end up in LTC, how will you pay for the high cost of that care? … [Read more...] about Do I Need Long-Term Care Insurance?
Long Term Care Planning
How To Manage Long Term Care Costs
Placing a loved one in a nursing home is difficult enough without having to worry about the tremendous expense involved with it. Oftentimes, these costs are significant enough to deplete most, if not all, of the assets of the individual. When a nursing home is the only option, the extra expense has to be met somehow. So what can you do to keep these expense down? It is tempting to allow the nursing home staff to attend to your loved one’s every needs. But this is the same as employing a … [Read more...] about How To Manage Long Term Care Costs
Avoiding Estate Planning Mistakes
Estate planning is an ongoing process – when life changes, so should your plan. Many believe that once estate planning documents, such as a will, living trust or a durable power of attorney, are executed, their estate plan is complete. This is not the case – in fact, there are several mistakes that people tend to make in estate planning: 1. Failing to keep documents up to date. Changes such as marriage, divorce or the death of a spouse, beneficiary or executor should trigger a … [Read more...] about Avoiding Estate Planning Mistakes
Confronting Medi-Cal Myths
When it comes to Medi-Cal planning, there’s a lot of misinformation that circulates. Here are a few common myths we have heard: Medicare will cover my nursing home expenses, so I don’t need to worry about Medi-Cal. This is not true – - Medicare only covers very few, limited long term care expenses. So, unless you have long-term care insurance or can afford to pay for your care out-of-pocket, you’ll need to find out about Medi-Cal and other public benefits. In order to qualify for … [Read more...] about Confronting Medi-Cal Myths
What Does It Cost for An Elderly Parent to Remain at Home?
Broaching the subject of moving to a retirement facility with a parent is typically not met with enthusiasm. You may feel, however, that moving would be in the best interest of your parent. Although our parents often feel that moving from the family home means giving up their independence, it may be difficult, or even dangerous, to remain in the home. Even daily tasks such as getting dressed, bathing and preparing meals becomes harder as we age. One way to approach the subject is to look at what … [Read more...] about What Does It Cost for An Elderly Parent to Remain at Home?
What to Look for in A Long-Term Care Insurance Policy
The ancient Greeks enjoyed an average lifespan of only about 20 years compared to an American female who is expected to live, on average, to age 85. Although we can thank advances in medicine and science for giving us an extended lifespan, doctors and scientists have yet to come up with a way to completely halt the again process. As a result, there is a better than average chance that you will need some type of long-term care during your lifetime. With an average yearly stay in California … [Read more...] about What to Look for in A Long-Term Care Insurance Policy
Things You Need to Know about Long Term Care Insurance
Americans enjoy a longer average lifespan than the majority of the world. The average female can expect to live to see her 85th birthday. Advances in medicine, technology, and science have allowed us to live longer, but at a cost. Illnesses that would have killed us a century ago can now be treated. A heart attack that would have caused death a century ago can now be managed with emergency medicine and the latest technology. All of this, however, has a financial cost. If you are fortunate enough … [Read more...] about Things You Need to Know about Long Term Care Insurance
What You Need to Know about Long-Term Care Insurance
The longer you live, the more likely it is that you will need long-term care (LTC). Failing to plan for the cost of that care could put your retirement nest egg at risk. Counting on Medicare or your basic health insurance for help is not a viable option as neither will likely cover LTC. Purchasing a separate long-term care insurance policy is one way to plan for the high cost of LTC; however, should you buy in LTC insurance? Let's see what you may need to know about long-term care … [Read more...] about What You Need to Know about Long-Term Care Insurance
Medi-Cal Planning — Start Now
As we age, the cost of medical care almost universally increases. Even in good health, we simply need more care as a rule. If our health is not good, medical care can cost a small fortune. If you, or a loved one, requires nursing home care, the monthly cost can easily exceed $10,000. This often leaves people between the proverbial rock and a hard place. If you have a multi-million dollar estate then you may be able to pay for costs such as this out of pocket. If you are living below the poverty … [Read more...] about Medi-Cal Planning — Start Now
Our Available Services During COVID-19/Coronavirus Pandemic
The health and safety of our clients, staff, and friends of the law firm are top of mind amid concerns about the spread of the Coronavirus (COVID-19). As estate planning and elder law attorneys, our practice is dedicated to serving our most vulnerable citizens, including seniors, those who are ill, disabled, experiencing mental health challenges and children with special needs. The uncertainty around the pandemic has many people with immune system challenges concerned about exposure to the … [Read more...] about Our Available Services During COVID-19/Coronavirus Pandemic
