The Need for Medicaid Planning
One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the…
Biden Administration Eases Recommended Restrictions on Nursing Home Visits
The Centers for Medicare and Medicaid Services (CMS) has issued new guidance on whether families can visit loved ones in nursing homes. The guidance allows indoor visitation even when the resident has not been vaccinated. The coronavirus pandemic has hit…
The American Rescue Plan Could Improve U.S. Long-Term Care
Thank you to our friends at Levin & Perconti, a nationally renowned personal injury law firm in Chicago, for sharing this article with us. Justice in Aging: How The American Rescue Plan Helps Older Adults More than 45% of Americans…
BEWARE OF COVID VACCINE SCAMS
We are pleased to pass along this important information from our friends at TC Wealth Partners of Downers Grove. Please note that COVID fraud is rapidly evolving and we urge you to be cautious if you receive unsolicited requests for personal,…
The Top Eight Mistakes People Make with Medicaid
Medicaid planning can be a difficult and confusing process. The following are some common mistakes people make when planning to apply for Medicaid. Thinking it’s too late to plan. It’s almost never too late to take planning steps, even after…
Married Couples Need an Estate Plan
Don’t assume your estate will automatically go to your spouse when you die. If you don’t have an estate plan, your spouse may have to share your estate with other family members. If you die without an estate plan, the…
COVID-19 Vaccine: Answers for Dementia Caregivers and People Living with Alzheimer’s
The Food and Drug Administration (FDA) approval of multiple COVID-19 vaccines brings hope to many, especially those living with Alzheimer’s and dementia and their caregivers who have been critically impacted by the pandemic. Learn more about what you can expect…
Early Withdrawal from Retirement Plan Without Penalty Expires at the End of the Year
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon. Passed in March…
Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing
As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year. Since the increase in…
How to Fix a Required Minimum Distribution Mistake
The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff penalty.…