Authorizing a person to have power of attorney is a crucial part of both estate and long-term care planning. Giving someone power of attorney is equivalent to giving them the reins to your estate or health. It is a huge responsibility for anyone to undertake. If you...
One important consideration when you are planning for long-term care is how you will pay for it. Long-term care can be quite costly, especially if you want a service such as an in-home caregiver. You may count on family or friends to provide you or your spouse with...
New Yorkers are strong and have learned that a pinch of preparation is worth a pound of cure. This is why many of us want to begin long-term care planning, and one way to do this is through your estate plan. What is long-term care planning? The term, long-term care,...
For many people who are planning their estates, one of their main goals is to protect their assets for themselves and their loved ones as they head into retirement. With that in mind, once they start to create their plans, some may plan to delay their retirement by a...
In order to afford an extended stay in a nursing home, many people in New York City will have to qualify for Medicaid. Otherwise, they will have no way of paying for their care. The problem is that Medicaid is a government program for those of limited means. This...
It can be difficult to think about needing assistance from other people as we age, however most individuals will need long-term care in their lifetime. Long-term care planning Long-term care refers to services that an individual uses when he or she is no longer able...
Many New Yorkers might wish to try to qualify for Medicaid in order to pay for long-term care like a nursing home stay. Doing so will require some carefully planned giving and estate organization in order to be effective. For many other people in the city, this is...
While it is understandable why many New Yorkers may want to qualify for Medicaid in order to finance a nursing home stay, there are right and wrong ways to go about doing so. The problem with a person’s just transferring wealth so he or she can meet the Medicaid...
Long-term care planning is a part of every state plan, or at least it should be. This is because the cost of long-term care can be daunting. Indeed, the average yearly cost of long-term services is $138,000, and most people have to pay half. Some, about 20%, pay over...
In New York and throughout the United States, it is unfortunate that circumstances sometimes arise where adults need to be cared for by other adults. Often, this is done by a family member, but it is not required. When a person cannot make decisions on their own and...