ABLE Act Passes – Special Needs Planning Has Options
The ABLE Act will change the tax code to allow for tax advantaged savings accounts for qualified individuals with disabilities to save for certain expenses, such as education and transportation.
Family Strife over Elder Care?
Some families can work out these issues on their own, but many cannot, and the disagreements or hurts either fester or break out into open conflict and, occasionally, litigation. Resolution through mediation can bring much better results.
6 Things to Ask Before Agreeing to Be a Trustee
Being asked to serve as the trustee of the trust of a family member is a great honor. It means that the family member trusts your judgment and is willing to put the welfare of the beneficiary or beneficiaries in your hands. But being a trustee is also a great responsibility. You need to go into it with your eyes wide open. Here are six questions to ask before saying “yes”
End-of-Life Wishes – Time for “The Talk”
It’s the most serious of responsibilities to be bestowed upon you: the power to make medical decisions for your loved one in case he or she can’t. It’s called being a health care proxy, and it means you can make decisions and take actions that your loved one would if he or she were able.
Social Security Benefits to Inch Up 1.7 Percent in 2015
The nation’s elderly and disabled Social Security recipients will receive a 1.7 percent increase in payments in 2015.
It’s Medicare Open Enrollment Time
It’s that time of year again — time to reassess whether your Medicare plan is working for you and to jump ship if it isn’t. Medicare’s open enrollment period runs from October 15 to December 7.
Elderly Couple May Be on the Hook for Adult Son’s Medical Bills
Illinois is not a state with filial responsibility laws, however 28 states currently have filial responsibility laws. These laws usually make adult children responsible for their parents’ care if their parents can’t afford to take care of themselves, but some of the laws also make parents responsible for their childrens’ care. Where do your parents live?
Medicare Increases Coverage of Mental Health Services
Medicare has increased the amount of mental health coverage beneficiaries are entitled to. After years of unequal treatment, Medicare now covers mental health care the same way it covers physical illnesses.
What’s the Difference Between Medicare and Medicaid in the Context of Long-Term Care?
Although their names are confusingly alike, Medicaid and Medicare are quite different programs. Both programs provide health coverage, but Medicare is an “entitlement” program, meaning that everyone who reaches age 65 and is entitled to receive Social Security benefits also receives Medicare.
Six Things to Consider Before Making Gifts to Grandchildren
Grandparents often are particularly generous to grandchildren as they see their family’s legacy continuing on to a new generation. In many cases, grandparents feel they have ample resources and their children or grandchildren may be struggling financially. Consider these six issues before writing those checks.