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Long-Term Planning

Wednesday, July 7, 2021

What Is Long-Term Care Planning?


Most Americans will need long-term care at some point in their lives. Long-term care can be extremely expensive and not something most people will be able to pay for out of pocket. Take these two facts together and you will clearly see the benefit of engaging in long-term care planning.


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Wednesday, June 16, 2021

The Danger of Gift Giving When It Comes to Long-Term Care Planning


To many, gift giving is a love language. It can bring so much joy to give someone a gift. There are, of course, some added benefits of gift giving that you may get, such as tax benefits and reducing the size of your taxable estate, among other things. If you are planning for long-term care, even as far into the future as 5 years from now, however, gift giving should be thoughtfully done as it can have some serious consequences on your plans to cover the cost of long-term care through Medicaid benefits eligibility. The majority of people in the U.


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Wednesday, May 5, 2021

Can Adult Children Be on the Hook for Paying their Parents’ Nursing Home Bills?


Have you talked to your parents about planning for the costs of long-term care? The truth is that the majority of individuals will need long-term care at some point in their lifetime and the costs of such can be substantial, to say the least. The earlier you begin the long-term care planning process, the better as you will likely have more options open to you. Paying for long-term care has become a big issue and has gained even more attention as some states pursue the adult children of nursing home residents for payment on overdue bills.


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Wednesday, March 31, 2021

The Danger of Giving Gifts When It Comes to Long-Term Care Planning


There are many seniors who find joy in giving financial gifts to children, grandchildren, and loved ones. While the generosity is something that both the giver and receiver of such gifts can greatly enjoy, there are other considerations that must be taken into account before an older individual bestows such generosity on someone else. Here, we will examine the danger and possibly unanticipated negative impact on long-term planning coverage options for those who make financial gifts.


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