What is Medicaid Estate Recovery? Medicaid Estate Recovery is an essential topic for anyone who receives Medicaid and their beneficiaries. What is Medicaid Estate Recovery? It is a series of laws penned by the Federal Government that allows the state where the person lives and pays for the long-term costs of caring for that person to collect the monies paid More
Consumer Financial Protection Bureau (CFPB): Elder Financial Abuse is Widespread Recently, the Consumer Financial Protection Bureau (CFPB) released a new report on elder financial abuse in the United States. According to the CFPB, the nation’s largest private financial institutions state that they have received massive amounts of elder financial fraud. They report more than $6 billion in elder financial fraud between 2013 and 2017. Even More
Taking the Necessary Steps to Ensure a Smooth Transition to Long-Term Care One of the biggest fears older Americans have is becoming a “burden” on their loved ones later in life. They do not want to place financial strain on their children, siblings, or other relatives. This is why it is so important to have a plan in place for long term care before you actually need More
Estate Planning is Not a One-Time Event Everyone, no matter their age or net worth, needs to have an estate plan. Why? Because an estate plan provides guidance to your loved ones on how your assets are to be distributed when you pass away. If you do not leave behind an estate plan, you are essentially leaving your property and heirlooms in More
Taking Care Of Your Spouse After You Die No one likes to think about the end of his or her life. However, in the event you do pass, your spouse will be left with your finances. Effect planning can ensure your surviving spouse doesn’t financially struggle if you pass. The below preparations will ensure your spouse is taken care of in the event More
How Can a Health Care Power Of Attorney Help Me? The area of elder law is a complex and often unrecognized one, yet it is an area of law that is extremely important to the future health care and financial stability of Washington’s aging residents. Elder law covers topics such as long-term care assistance, Medicare and Medicaid, medical and mental health issues, estate planning, wills, More
The Importance of Planning for Long-Term Care The average monthly cost of a room in a nursing home in Washington is $8,078—nearly eight times more than the average monthly mortgage payment of $1,193. The average yearly total for a private room in a Washington nursing home is $95,995—$12,000 more than the national average. For many individuals, this yearly cost is the same More
Should I Include My Funeral Plans in my Will? Many famous people have specified their wishes for their funerals in their wills. Star Trek creator Gene Roddenberry requested that his ashes be sent to a satellite orbiting Earth. His remains were sent into space on a memorial flight in 1997. In contrast, famed author Charles Dickens asked that “no public announcement be made of More
Retirement Realities Retirement is an event that everyone looks forward to. Whether you have dreams of living at the beach, deep in the country, or you would rather travel, retirement is something to anticipate. However, the reality is what you are doing now seriously affects the outcomes of your retirement or if you will have one at More
Who Gets to Decide Who Can Pull the Plug if There is No Medical Power of Attorney? It is not unusual for a person to be incapacitated without leaving a person designated as their medical power of attorney. This is the reason that lawyers and health care workers alike encourage all people to draw up a living will and other paperwork making their wishes clear. Things can become very complicated if there More