The Importance of a Well Crafted POA (Part 2)
           Last week we were talking about the importance of a well drafted power of attorney or looking at it from the flipside, the problems caused by an inartfully drafted one.        Two recent examples in our office highlight the dangers. In the first case, we
The Importance of a Well Crafted POA
           As I have always told my clients, a power of attorney is as important, if not more important to you, as your will. Yet most people pay far more attention to the drafting of their will and give their POA little thought. How so?      Â
Home for the Holidays
   Once again the holiday season is upon us, a time of joy but also stress. We often visit family members we haven’t seen in some time and that’s when changes in older loved ones become more noticeable. Some of the changes that may indicate your loved one needs
Some Long Term Care Insurance Options You Probably Never Heard Of (Part 2)
               Last week I told you about Jim and Judy who had passed on the opportunity to buy long term care insurance years ago and are now too old to get it.  I told Jim that there are some options available to him and Judy, even now while in their
Some Long Term Care Insurance Options You Probably Never Heard Of
               Jim and Judy called because they wanted to make some changes to their wills.  In their late 70’s but still pretty healthy, they have a son who is struggling financially with 2 children in college and another with special needs.  They wanted to provide for their grandchildren and also
Little Known Law May Help Seniors Needing Long Term Care (Part 2)
               Last week we were discussing a little known law that can be a boon to seniors. The Pension Protection Act of 2006 contains provisions that allow individuals to use their annuity cash value to purchase long term care coverage. Let’s look at an example of how that can work.               Â
Little Known Law May Help Seniors Needing Long Term Care
               On August 17, 2006, President George W. Bush signed into law the Pension Protection Act of 2006. The average American probably never heard of the law but some provisions in that law, which became effective in 2010, can be a real boon to Americans struggling to find ways to
Using Your Own Money to Pay for Long Term Care – the Better Way? Part 2
               Last week I was talking about the difficulties in funding long term care through long term care insurance or Medicaid. Insurance companies are getting out of the long term care market entirely or drastically raising premiums. Medicaid, the primary government program that covers long term care, is still a
Using Your Own Money to Pay for Long Term Care – the Better Way?
               As I always explain to people, there are 3 ways to pay for long term care. One way is to use your own money. A second source is long term care insurance and the third is government benefits – primarily Medicaid and the VA Aid and Attendance program.                I
Turning Life Insurance into Long Term Care Insurance (Part 2)
               So your parent has an insurance policy that they can no longer afford and they are in spend down mode to qualify for Medicaid. Cashing in the policy and spending the proceeds is necessary before Medicaid will kick in. But last week I mentioned another option, something called a