As banking and bill-paying become more challenging as one ages, incapacitation by accident or sudden disease can occur to anyone at any age, creating the same difficulties. Incapacity is not just about mental cognition, accident, or illness. You may have…
Medicaid savings protections were created by Congress 30 years ago. These protections prevent husbands and wives from bankrupting themselves trying to fund care for their loved ones. They originally required states to allow spouses of nursing home residents to maintain…
The elderly population of the U.S. frequently uses multiple prescription medications concurrently, known as polypharmacy. The more medications a person takes, the higher the risk of dangerous drug-drug interactions and the increased possibility of inappropriate prescribing, adverse drug reactions, hospitalization,…
Insolvency risks threaten Medicare and Social Security, according to a government report. Social Security will have to start spending down, potentially including massive cuts in payments to recipients by 2035. Likewise, Medicare will be forced to leave patients on the…
Taxes on gifts are charged when assets are transferred without equal consideration. The asset has to be of a certain value for the tax to apply; otherwise, it falls under the gift tax exclusion, either annual or lifetime. If the…
Throughout the world, there are constant reports of bad news increasing our stress. Injuries and illnesses can also cause stress and chronic pain can be especially stressful. So finding ways to release and cope with pain and stress help people…
In general, an annuity consists of an annual payment that is made for the rest of the annuity owner’s life. Most annuities are deferred, meaning the payout doesn’t occur until a later date. However, you can receive immediate payouts if…
In many cases, an aging parent will be unable to make informed and meaningful decisions about their life as they age. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or…
A report produced by the Alzheimer’s Association (alz.org) provides statistics about Alzheimer’s disease. The findings give pause when contemplating the future of many Americans who will be living with crippling dementia. Health care and long-term care costs for individuals with…
In 1965, Medicaid was established to provide healthcare to low-income and asset-poor individuals. The state and the federal governments cooperate in delivering benefits. The state you live in makes a big difference in determining when or if you are eligible.…
