The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset … [Read more...] about What Is a HIPAA Release?
You may not want to focus on the possibility of your own incapacity, but you should take the time to do so. In the event that you do become incapacitated, either as a result of the natural process of aging or because of a sudden illness or accident, someone will need to manage your money. Will it be someone who you want managing your money? That … [Read more...] about If You Become Incapacitated, Who Will Manage Your Money?
A revocable living trust, is an inter-vivos trust, meaningit is created and takes effect while you are still alive. It has benefits and drawbacks. Although a revocable living trust does not offer the same estate tax avoidance and assets protection benefits that an irrevocable trust offers, it can be an excellent way to plan for your … [Read more...] about Revocable Living Trust and Incapacity Planning
Estate planning can seem on the surface to solely involve preparing your assets for distribution after you pass away. Of course this is the primary objective. However, there are other issues to consider. One of the things to take into consideration is the possibility of incapacity. Everyone has heard about Alzheimer's disease but when you hear … [Read more...] about Powers Of Attorney: Part Of The Plan
You will hear mention of the senior population explosion often when you are seeking information about elder law and estate planning. The baby boomers are today's seniors, and this is the fastest growing group of American citizens. Furthermore, people 85 years of age and older are the fastest growing subset of the senior demographic. This has some … [Read more...] about Incapacity Planning
When you are making plans for your twilight years it is important to make sure that your assets get to your heirs efficiently and effectively via a well executed estate plan. But it is also important to prepare for the possible eventualities that we all face toward the end of our lives. The segment of society that is 85-years-old and older is the … [Read more...] about Health Care Proxies & Unmarried Couples
Have you ever considered the possibility that you could someday become mentally disabled or physically in a vegetative state? Not many people consider this, but this could happen at any time. For this reason, a disability plan is a vital part of estate planning, and you should begin your preparation today. Your disability plan will take care of … [Read more...] about When is the Best Time for a Disability Plan?
For many families, choosing a nursing home or long term care facility can be a daunting task. And if the loved one to be placed in the home is ill and cannot participate in the choice, a social worker from a hospital may be making the recommendation of which facility to use. In stressful times, families often rely on “experts” to make the choice … [Read more...] about What To Look For In A Nursing Home
Continuing Care Retirement Communities, CCRC’s, are an excellent solution to the ongoing dilemma of providing the proper living arrangements to senior citizens as their needs change. CCRC’s offer several levels of living options, assistance and health care for seniors all on one ‘campus’. They normally offer two or more of the following living … [Read more...] about Continuing Care Retirement Communities – One Stop Shopping Solution for Senior Citizens
Medicare is a Federal health insurance program that falls under the Social Security Program. It provides benefits primarily for people age 65 or older, but people younger than age 65 can qualify for Medicare, including those who have certain disabilities and those with permanent kidney failure. While Medicare helps with the cost of health care, … [Read more...] about Medicare Benefits – Answers to Commonly Asked Questions