No one wants to face the fact that our loved ones will not be with us forever. Facing our own mortality is frightening as well. Although none of us wants to contemplate a time when we or a loved one might become disabled or die, it is important to be prepared. There are many steps families can take in advance of death or disability to avoid …
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The Impact of Alzheimer’s Disease on Retirement Planning
When you think of retirement do you think about unlimited golf, sleeping late and days on the beach. You probably don’t think about your loved one being diagnosed with Alzheimer’s and being terrified of losing your house and life savings. Retirement is a phase of life that many individuals eagerly anticipate, envisioning a time of …
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Facing an Alzheimer’s Diagnosis
The world of music lost a true icon recently with the passing of Tony Bennett at age 96. In addition to his remarkable music career Bennett will also be remembered for his ability to continue performing despite being diagnosed with Alzheimer’s disease. Bennett’s journey with Alzheimer’s has not only showcased his resilience and determination but …
Myths and Realities About Medicaid Planning
Long-term care in the United States is provided overwhelmingly by unpaid caregivers; researchers estimate the value of this unpaid caregiving at well over $196 billion per year. By contrast, paid caregiving costs the public and private sectors about $173 billion, more than a quarter of which is paid out-of-pocket by individuals and their …
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You May Not Need To Spend Down
Dear Attorney Tully: I am terrified. My husband and I are probably younger seniors than you see in your practice, but my husband is very sick and in a nursing home for long-term care. I’ve been told I have to spend down almost all of our savings, including my IRA, in order for him to qualify for Medicaid. Is this true? ANSWER: Not …
