While the likelihood that a marriage would end in divorce has decreased slightly over the last several years, the number of Americans age 50 and older who are getting divorced is now at its highest level ever. A recent study from researchers at the National Center for Family and Marriage Research shows that senior divorces have increased by 50% over the last several decades In 1970, about 13% of people between the ages of 46 and 64 were divorced. By 2010, that number had reached almost 33%. … [Read more...] about Divorces Continue Into Retirement Age
Elder Law
You Need a Plan to Avoid Losing Your Nest-Egg to Nursing Home Costs
For most people, even retirees and other seniors, the idea that you might have to spend time in a nursing home or extended care environment isn't something you think about a lot. Unfortunately, the reality of the situation is that the older you get, the far more likely you will be to have to live in a nursing home at some point. While only a small percentage of people in their late 60s or early 70s need nursing home care, that number rises significantly the older you get. With the average cost … [Read more...] about You Need a Plan to Avoid Losing Your Nest-Egg to Nursing Home Costs
Medicaid (Medi-Cal) Planning
When determining whether an individual qualifies for Medicaid, states impose both functional and financial tests. Functional means that the applicant must demonstrate medical need. Financial means that such an individual must demonstrate financial need. With proper planning though, it’s possible to meet the financial need prong even if assets exceed the threshold amount set by the state. In California, Medicaid is known as Medi-Cal and California has a distinctly different approach to … [Read more...] about Medicaid (Medi-Cal) Planning
Your Parent’s Nursing Home Might Sue You
For children with elderly parents residing in a nursing home or extended care facility, you may be surprised to know that in some states and in some situations, you could potentially be required to pay for your parents nursing home expenses. About 30 states, including California, have laws that impose some kind of a duty for children to pay for their parent's nursing home expenses if the parent is indigent and if the child has funds. In about 20 of the states with these “filial … [Read more...] about Your Parent’s Nursing Home Might Sue You
How To Manage Long Term Care Costs
Placing a loved one in a nursing home is difficult enough without having to worry about the tremendous expense involved with it. Oftentimes, these costs are significant enough to deplete most, if not all, of the assets of the individual. When a nursing home is the only option, the extra expense has to be met somehow. So what can you do to keep these expense down? It is tempting to allow the nursing home staff to attend to your loved one’s every needs. But this is the same as employing a … [Read more...] about How To Manage Long Term Care Costs
Confronting Medi-Cal Myths
When it comes to Medi-Cal planning, there’s a lot of misinformation that circulates. Here are a few common myths we have heard: Medicare will cover my nursing home expenses, so I don’t need to worry about Medi-Cal. This is not true – - Medicare only covers very few, limited long term care expenses. So, unless you have long-term care insurance or can afford to pay for your care out-of-pocket, you’ll need to find out about Medi-Cal and other public benefits. In order to qualify for … [Read more...] about Confronting Medi-Cal Myths
What is a Conservatorship?
If you have an elderly family member or loved one that is in declining physical or mental health, you may wish to consider seeking an appointment as a conservator of the person’s estate. But of course, there's a lot to think about if you want to go down this path. Not only are you taking on a lot of responsibility, but your loved one may not agree with your decision. Before deciding whether or not to seek guardianship or conservatorship, a basic understanding of the difference between the … [Read more...] about What is a Conservatorship?
Seniors – How to Avoid Holiday Scams
During the holidays most people make an extra effort to be friendly and embrace the spirit of the season. Unfortunately, scam artists make a point of using the holiday spirit to target people – and these predators frequently target the elderly. Below we'll explain how seniors can avoid becoming the victim of a holiday scam. Why Are Seniors Common Targets of Holiday Scams? There are several reasons why scam artists are more active during the holidays. First, it is the busiest shopping … [Read more...] about Seniors – How to Avoid Holiday Scams
Elder Sexual Abuse – Is a Loved One at Risk?
Elder abuse is certainly not a new phenomenon; however, a larger elderly population coupled with increased awareness has brought the issue of elder abuse to the forefront of the American consciousness. When most people think of elder abuse, they tend to focus on the threat of physical abuse or emotional neglect. However, there is another type of elder abuse that frequently is not discussed -- elder sexual abuse. What You Need to Know about Elder Sexual Abuse Sadly, the elderly often make … [Read more...] about Elder Sexual Abuse – Is a Loved One at Risk?
Medi-Cal Planning — Start Now
As we age, the cost of medical care almost universally increases. Even in good health, we simply need more care as a rule. If our health is not good, medical care can cost a small fortune. If you, or a loved one, requires nursing home care, the monthly cost can easily exceed $10,000. This often leaves people between the proverbial rock and a hard place. If you have a multi-million dollar estate then you may be able to pay for costs such as this out of pocket. If you are living below the poverty … [Read more...] about Medi-Cal Planning — Start Now
