When is it Too Late to Plan?
Last month we lost one of our clients to an unfortunate accident. John was suffering from the early stages of Alzheimer’s Disease and living at home with his wife, Mary (not their real names). Mary was 20 years younger than John and still working to support the couple. We had
MetLife Dropping Long Term Care Insurance – What Does it Mean for You and Me?
I have been saying it for years now. Long term care is a growing problem in this country, one that won’t go away. Not with the population continuing to age as 77 million baby boomers start to turn 65 in a little more than a month. The sheer number of
Can I Make Gifts this Holiday Season? (Part 2)
Last week we were talking about gift giving. Most people assume an elderly family member can make gifts without any tax consequences as long as it doesn’t exceed $13,000 per person per year. That’s true. However, it may very well cause a problem if you run out of money and
One of the Clearest Warning Signs of Dementia
           More often than not, the first call we receive about a prospective client who is facing long term care concerns comes from a child or other family member, rather than the senior client. And so often the caller expresses surprise at recently discovering that Mom or Dad is slipping.Â
Mary and Bob – Almost Divorce and Then Tragedy Strikes (Part 2)
Last week we were discussing Mary and Bob, in the process of getting divorced and then Bob was seriously injured in a car accident. He survived but now faces a long recovery road ahead, one which will result in his need for long term care. Mary, since she is still
But Mom Wanted Me to Have the Money
In the last few years readers of my blog know that many of my posts are real stories that highlight the pitfalls and dangers of not putting together a plan for long term care until you are on the doorstep of the nursing home. Here’s another one, with names changed
Mary’s Dilemma – Don’t Let it Be Yours
Mary called me in desperation. Her husband Bob had recently been hospitalized with heart problems. He is also struggling with the onset of Alzheimer’s Disease. Mary has been able to administer care to this point but it has taken its toll on her physically and mentally and her children are
The Second Marriage Long Term Care Problem Revisited
Last year I wrote about the impact long term care has on a second marriage (see blog post 1/5/09). In the 19 months since then, I have seen an increasing number of second marriage “horror stories”. A call we received last week, again highlights the danger. Joe, a 70 year
Will I Lost My Family Business if I Need Long Term Care (Part 2)
So, we were discussing Joe’s situation last week. He owns a business and a building which rents space to his company and 3 other tenants. Their combined value is $1.25 million dollars. As we learned last week these assets are countable for Medicaid purposes as assets that need to be
Will I Lose My Family Business if I Need Long Term Care (Part 1)
Joe built his construction business from nothing. He was able to provide for his family, put his children through college and live a nice life on the income generated from it. Now in his 70’s, Joe doesn’t work much anymore. He goes into the office a few days a week,