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With that in mind, NASDAQ’s article, “Long-Term Care and Wealth Planning for Aging Parents,” points to create than a will, but it will let your parents do wise tax and estate planning to protect their wealth Department of Health and Human Services says that there’s about a 70% chance that a 65-year-old will Despite being somewhat uncomfortable, a conversation with your parents about their health and wealth Reference: NASDAQ (August 10, 2016) “Long-Term Care and Wealth Planning for Aging Parents” #ElderCare

Businesses are putting health and safety first by providing hand sanitizer, masks, and screens. Check Your Life Insurance Policy The coronavirus pandemic has also brought along changes to the life insurance industry. Do not be afraid to get in touch with your insurer to go through your policy with you and see if any Advanced health directives allow young people to ensure their care is personalized and meets their wishes

A reverse mortgage can provide cash or “longevity insurance” when other sources of retirement income They also can be a source for out-of-pocket health care costs or other sudden financial needs. Also known as “Home Equity Conversion Mortgages,” these loans are insured by the government. Some folks don’t have enough savings to get through retirement, so they may use all of their wealth—including

Designations Make sure to review the beneficiary designations on bank accounts, retirement funds, and life insurance Attorney Similar to a durable power of attorney , a medical power of attorney appoints an agent to make health If it is important for all of your family members to be able to communicate with health care providers personnel to share information with anyone and everyone you name, not limiting this function to your health

instance, the eligibility needs of the recipient of Medicaid can be denied if the person has assets or wealth ones and an experienced Medicaid planning attorney about your options well in advance of any potential health understand all of your planning options, scheduling a strategy session with an elder law attorney to ensure comes time to make final decisions, always be sure to run your ideas by a Medicaid planning attorney to ensure

previous plans for your estate, personal finances, as well as any advance directives for your end-of-life health Elder law attorneys advise that those thinking about marriage later in life, at the time when personal wealth applicable property rights before the marriage, it’ll let you modify your wills, powers of attorney, health

Another option is a home health aide, which costs about $20/hour. The other option is purchasing long-term care insurance. Life insurance is another way you can help cover the cost. Some insurance companies have a rider to their life insurance contracts for long-term care that allows There still will be a benefit inside the life insurance contract that could be paid to a beneficiary.

LGBTQ+ seniors and how an experienced Houston elder law attorney can help protect their rights and ensure Elder law aims to ensure that seniors are protected and receive the care and support they need later When they do seek out healthcare, they may encounter providers who are not familiar with LGBTQ+ health creating a living will, setting up trusts, and designating beneficiaries for retirement accounts and life insurance An elder law attorney can help advocate for their healthcare rights, including ensuring they receive

When a parent starts experiencing rapid health decline or shows signs of self-neglect due to dementia drastic increase in memory loss, confusion, or poor judgment indicates a parent is unable to make sound health Sudden health events cause a disability – stroke, fall, or heart attack leading to either temporary or The temporary guardian may be authorized to make health care decisions, decide residence, or make financial Specifically, Texas law requires: Showing risk factors that jeopardize the parent’s health and welfare

The messy legal dispute over the mental health of media mogul Sumner Redstone is an example of the growing However, with longer life spans and more accumulated wealth among the aging, impatient family members Manuela Herzer, sued in November to challenge the competency of Redstone after he removed her as his health-care

More than half of Americans now have at least one chronic health condition, mental disorder or substance transferring, bathing and dressing, or requires considerable supervision to protect from crisis relating to health For healthy people, a will or trust plans for the “what if?”

Insurance premiums are lowest when you’re younger, and if you ever do need it, most policy owners will Lifetime coverage isn’t offered anymore, and, unlike basic health insurance, you can be rejected for There are some newer products called hybrids, which add on long-term care benefits to life insurance Reference: New York Times (December 18, 2015) “Long-Term Care Insurance Can Baffle, With Complex Policies