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Power of Attorney and Elder Financial Abuse
One potential vehicle for elder financial abuse is a power of attorney for financial affairs. A financial power of attorney gives a designated representative, known as an agent, the power to make financial decisions on behalf of someone else. The power of attorney can...
Life Insurance and Medicaid Planning
When planning for Medicaid coverage of a potential nursing home stay, one often overlooked asset that can affect Medicaid eligibility is life insurance. Certain types of life insurance do count toward Medicaid eligibility limits while others do not. Additionally,...
Special Needs Children and Divorce
Divorce is an unfortunate, but sometimes necessary, event that families have to deal with. For families with children who have special needs, there are additional considerations that should be dealt with before a separation agreement is finalized. At every step of the...
Differences Between Medicare and Medicaid
The differences between Medicare and Medicaid can be a common area of confusion. The simpler program, in practice, is Medicare. Medicare is a medical insurance program that covers health care costs for individuals sixty-five and older. The program covers all...
Limits of Long Term Care Insurance
Long term care insurance is one way to protect individuals and couples from the cost of a potential nursing home stay. In short, long term care insurance provides policy holders with a certain amount of coverage in case of a future nursing home stay in exchange for...
Planning for Medicaid Nursing Home Coverage
A stay in a nursing home can drain the financial resources of all but the wealthiest households. Approximately half of people who reach the age of 65 will need some form of long term care during their lifetimes. Benefit coverage for long term care is fairly limited....
Difference Between a Living Will and a Health Care Power of Attorney
A living will and a health care power of attorney are related documents that provide instructions on how to approach medical care once a person has become incapacitated. A living will, also known as an advance directive, provides instructions on what to do in certain...
Wills, Living Trusts, and Probate
The probate process can take a significant amount of time and money before any inheritances get distributed to a person’s beneficiaries. Additionally, probate filings, including wills, become part of the public record that anyone can access. As a result, many people...
Traditional Medicare and Medicare Advantage
When choosing specific Medicare plans, individuals face the broad choice between traditional Medicare, traditional Medicare with a Medigap plan, or a Medicare Advantage plan. Traditional Medicare covers hospital care, doctors visits, and prescription drugs through...
What is a Guardian ad Litem?
A guardian ad litem is a guardian that is appointed by a court to serve as a temporary guardian during the duration of a court proceeding. The phrase guardian “ad litem” translates from Latin to guardian “for the suit” in English. There are two main instances where...
