Steps to Take in Advance of Death or Disability
No one wants to face the fact that our loved ones will not be with us forever. Facing our own mortality is frightening as well. Although none of us wants to contemplate a time when we or a loved one…
How to Fight a Nursing Home Discharge
Once a resident is settled in a nursing home, being told to leave can be very traumatic. Nursing homes are required to follow certain procedures before discharging a resident, but family members often accept the discharge without questioning it. Residents…
Tips on Having ‘The Talk’ With Aging Parents
If you’re a baby boomer, you may already have had “the talk” with your growing children. But have you had “the talk” with your aging parents as well? That talk involves a frank discussion with parents about financial arrangements for…
Short-Term Care Insurance: An Alternative to the Long-Term Care Variety
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…
Study Finds That Social Security Workers Often Provide Incomplete Information
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…
What Is the Difference Between a 401(k) and an IRA?
The main distinction is that a 401(k) — named for the section of the tax code that discusses it — is an employer-based plan, while an IRA is an individual plan, but there are other differences as well. Strohschein Law Group will help you develop an estate plan with all of these considerations and more. Let us help you do the homework!
5 Questions to Ask Before Making Gifts for Medicaid or Tax Planning
Many seniors consider transferring assets for estate and long-term care planning purposes, or just to help out children and grandchildren. Gifts and transfers to a trust often make a lot of sense. They can save money in taxes and long-term care expenditures, and they can help out family members in need and serve as expressions of love and caring. But some gifts can cause problems, for both the generous donor and the recipient.