Retirement is meant to be relaxing, but the thought of retirement for some may instead be stressful. A common concern many clients have is whether they will have sufficient income or savings to be able to have a comfortable retirement. Clients often wonder when they need to start saving and what is the best strategy. If you get your estate planning attorney to help with your retirement planning, you should be able to avoid most of the common mistakes. Be sure to put away sufficient … [Read more...] about Mistakes Not to Make in Retirement Planning
Long Term Care Planning
Common goals of many folks is to build up their estate assets so that they can live comfortably during the Golden Years and – hopefully — have a nest egg left to pass down to their children, grandchildren, and/or other loved ones. These goals could be threatened, however, if the hard earned assets are put at risk – and they could be at risk without you even realizing it. The best way to protect your assets, your future, and your loved ones is to include asset protection planning as a component … [Read more...] about Asset Protection Planning: Should You Be Worried?
When a parent becomes mentally impaired, it is only a matter of time before they need help taking care of their own personal and financial affairs. Some of the common signs of diminished capacity are disorientation and memory loss. When you see these signs, it may be time to consider taking steps to provide necessary care. It would be best, however, to make plans ahead of time. Whichever course you take, there will be many difficult issues ahead, but your elder law attorney can help. No. 1 – … [Read more...] about 5 Difficult Elder Law Issues and How to Handle Them
Nursing home care can be very expensive. Many private health insurance policies don't cover these long-term care services. For California residents who need long-term care, Medi-Cal is the most common source of funding. In fact, Medi-Cal covers nursing home care expenses of nearly 65% of Californians residing in nursing homes. However, applying for and receiving assistance from Medi-Cal takes planning. Getting your parents prepared for the potential need for long-term health care, nursing home … [Read more...] about Nursing Home Planning: Are your Parents Prepared?
If you have decided it’s time to move to a retirement home or you are just thinking about it, there are some practical steps you can take to help make choosing the right home a lot easier. Investigating each elder care facility you are thinking about does not take a lot of effort, but you will want to have a plan in place. Here are several tips you can use to help get you started. Make several visits. Start by creating a list of all the retirement homes you think match your needs and budget. … [Read more...] about Some Simple Preparations Can Help You Choose the Right Retirement Home
For children with elderly parents residing in a nursing home or extended care facility, you may be surprised to know that in some states and in some situations, you could potentially be required to pay for your parents nursing home expenses. About 30 states, including California, have laws that impose some kind of a duty for children to pay for their parent's nursing home expenses if the parent is indigent and if the child has funds. In about 20 of the states with these “filial responsibility” … [Read more...] about Your Parent's Nursing Home Might Sue You