Here’s my list of the top reasons why you should have a comprehensive durable power of attorney. Make it your decision (rather than a court). If someone has signed a power of attorney and later becomes incapacitated and unable to make decisions, the agent named can step into the shoes of the incapacitated person and… Read More
Posts Categorized In: Long Term Care Planning
Qualifying For Medicaid Long Term Care Assistance
As an Elder Law attorney in Omaha, Nebraska, one of my primary functions is to help families plan for how they are going to pay for long-term care. In many of the planning sessions, at some point, we will need to contemplate Medicaid long-term care assistance.
Preserving Your Retirement Nest Egg
After decades of hard work and financial discipline, a period of long-term care can destroy a retirement nest egg and the odds are not in your favor. According to the Department of Health and Human Services 70 percent of adults age 65 and older will eventually need some type of long-term care and nursing home costs… Read More
Medicaid and Nursing Home Care, Part 2
In the March edition I introduced a three-part series to address the four ways that you can pay the cost of nursing home care. It is crucial that all of us (at or nearing our retirement years) take the time to educate ourselves and then implement a plan that will address long-term care costs. Of… Read More
The Benefits of Irrevocable Trusts in Medicaid Planning
Even though Federal Medicaid law imposes a 5-year look-back period for all asset transfers there are situations in which people elect to transfer assets as part of their Medicaid planning strategy. In such situations, they will need to determine whether to transfer the asset outright or use an irrevocable trust.
How Will You Pay For Long Term Care
Paying for long term care should be a very real and legitimate concern. According to the Department of Health and Human Services, 70 percent of adults age 65 and older will eventually have some long term care needs and nursing home costs can be significant.
How to Pay for Nursing Home Care
Americans are living longer than ever before. As a result, we face more challenges and transitions in our lives than those who came before us. One of the most difficult transitions people face is the change from independent living in his or her own home or apartment to living in a long term care facility… Read More
Medicare and Nursing Home Care, Part 1
In the March edition I introduced a three-part series that will address the four ways that you can pay the cost of nursing home care: Long Term Care Insurance; Pay with Your Own Funds; Medicare; and Medicaid It is crucial that all of us (at or nearing our retirement years) take the time to educate ourselves and then implement… Read More
Will We Lose Our Family Home To Medicaid?
As an Elder Law attorney in Omaha, Nebraska, one of my primary functions is to help families plan for how they are going to pay for long-term care. Establishing a long-term care plan for seniors is a multifaceted discussion and many times Medicaid is part of that analysis.
Medicaid and Nursing Home Care, Part 3
The past three months I’ve discussed the role Medicare and Medicaid play in paying the cost of nursing home care. It is crucial that all of us (at or nearing our retirement years) appreciate the magnitude of long-term care costs, the potential financial impact (to us and our families) and contemplate how we can best… Read More
