The Manchester Living Podcast’s Brian Levy recently hosted Jeff Kort, a Dallas-area financial advisor, and myself, Steve Holman, to discuss the ins and outs of elder law. You can watch the video right here, or look below for 5 important takeaways from our conversation.
A recent report was issued that reviewed a number of state’s Medicaid Assisted Living Waiver Program. These programs provide Medicaid funding to assisted living or in-home care. The report found that providing public benefits to eligible individuals before they required skilled nursing care reduced the state’s overall Medicaid expenditures. Further, it provided...Read More
Life expectancy in the United States has continued an upward trend over the last several decades. The average life expectancy for men is 76.4 years and the average for women is a healthy 81.2 years of age. What has not trended upward, however, is the number of people engaging in long-term care planning. The fact is, 63 percent of Americans age 65 or older will need either in-home nursing care...Read More
70% of individuals 65 years old will need some form of long term care during their lifetime. For those 70% requiring long term care, the average total cost is estimated at $266,000. About 25% of households have no retirement savings at all, and the median savings for those who do is less than $75,000.
When we think about how much to save for retirement – we inevitably attempt to gauge...Read More
Congress passed the Tax Cuts and Jobs Act in December of 2017 which is aimed at cutting taxes for corporations and all Americans. While the bulk of the legislation went into effect January 2018, most taxpayers will not see much of a difference in their taxes until 2019, when they file their 2018 taxes. However, there are several important changes seniors need to be aware of now that could...Read More
Long Term Care Payment Options Continue to be Limited
The Wall Street Journal continues to report on the struggles of the long term care insurance market. Why is this important? Long term care insurance was viewed as the middle class solution to affording long term care. Without long term care insurance, options are limited for many individuals approaching retirement. Even with limited...Read More