The financial exploitation of elders is a devastating problem. The annual losses in the United States is estimated to range in the billions of dollars. There is, however, quite a bit of divergence in the studies because it is a seriously underreported problem. There are two basic types of financial exploitation of elders. The first is stranger […]
Alzheimer’s, Family Member Caregivers, and Medicaid and VA Benefits
Government statistics show that literally hundreds of billions of dollars of uncompensated care is provided by family member caregivers to those with Alzheimer’s. This opens up a great planning opportunity for both Medicaid and VA benefits. It is possible to compensate family member caregivers and not have the payments count as gifts, if done correctly […]
Life Insurance and Medicaid or VA Benefits Eligibility
“If I have life insurance in place, will I be able to keep it if I apply for Medicaid or VA benefits?” We get this question a lot from people applying for Medicaid or VA benefits eligibility, and the answer is not be as simple as it may seem. In a Medicaid context, in both […]
Do Living Trusts Protect Assets From Medicaid or VA Spend Down?
Living Trusts are valuable estate planning tools, but they don’t do anything to protect your life savings from long-term care costs during the Medicaid or VA spend down process. For that purpose, we need a different type of trust that can work together with your Living Trust called an Asset Preservation Trust. In this Elder […]
Don’t Fall Into the “Things Are Too Hectic Right Now” Trap
Last week we discussed when planning should start, which we determined the sooner the better for getting the best results in protecting your life savings from long-term care costs. However, sometimes even the best intentions give way to daily life and the overwhelming feelings that may arise from the very situations the planning is intended […]
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