Category Archives: Long-Term Care Planning

Short-Term Care Insurance: An Alternative to the Long-Term Care Variety

Long Term or Short Term

A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or less. As … Continue reading

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Study Finds That Social Security Workers Often Provide Incomplete Information

Social Security Administration

Americans are misinformed about many aspects of Social Security, and local Social Security offices may not be helping, according to a study by the Government Accountability Office (GAO). The study found that the Social Security field offices often did not … Continue reading

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Dispute Between Brothers Demonstrates Need to Plan for Long-Term Care

Arm Wrestling

A recent New Jersey appeals court case demonstrates how important it is for families to come up with a long-term care plan before an emergency strikes. The case involves two brothers who got into a fight over whether to place … Continue reading

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Costs of Some New Long-Term Care Insurance Policies Rise in Latest Survey

Long Term Care Insurance

        A couple who are both age 60 and who purchase new long-term care insurance coverage can expect to pay between 6 and 9 percent more compared to a year ago according to the 2017 Long Term … Continue reading

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How to Deduct Long-Term Care Premiums From Your Income

Long Term Care Insurance

      Taxpayers with long-term care insurance policies can deduct some of their premiums from their income. Whether you can use the deduction requires comparing your medical expenses to your income in a complicated formula.   Premiums for qualified … Continue reading

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Caregiver Apps to Help Relax

Care Zone App

Our friends at The Naperville Senior Center shared this month’s article with us.  If you haven’t learned about their Adult Day Care services, check out their website at http://www.napervilleseniorcenter.com/.   It’s no secret: the technology industry is a young person’s … Continue reading

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Nursing Home Residents Win Back Right to Sue

  In recent years, nursing homes have increasingly asked — or forced — patients and their families to sign arbitration agreements prior to admission. By signing these agreements, patients or family members give up their right to sue if they … Continue reading

Posted in Long-Term Care Planning, Medicaid, Medicare |

What Is a Life Estate?

        The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in … Continue reading

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Court Approves Use of Short-Term Annuities for Medicaid Planning

A lesson learned in Pennsylvania declares immediate annuities must still meet a number of stringent requirements to be accepted as legitimate by Medicaid authorities. Families considering them should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group. This is an FYI for you to think about what long term care planning can put in place for you before you transfer assets to afford it. Call us today (630) 377-3241

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Posted in Estate and Trust Administration, Estate Planning, Long-Term Care Planning, Medicaid, Uncategorized | Tagged , , |


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