If you are planning to apply for Medicaid, you might not realize that you should think twice before transferring any of your assets. If you transfer assets within five years of applying for Medicaid, you could in fact face a penalty period. During this time, you would not be eligible for Medicaid benefits. An exception […]

You may not foresee ever needing assistance with your day-to-day life. However, research shows that seven in 10 adults aged 65 and older will require long-term care at some point in their later years. Meanwhile, the U.S. population continues to age rapidly. Americans aged 65 or older are on track to total 82 million in the next […]

If you need a medical procedure, you may have to hold off on treatment until you have received approval from your health insurance plan. In many cases, Medicare Advantage and other plans have been denying their patients certain services despite doctors’ orders. (In one survey, medical practices reported that 97 percent of their patients faced such […]

As April marks Financial Literacy Month, it is an excellent time to start improving your financial literacy. Gaining financial savvy can help you handle the challenges and complexities of aging. Although sometimes overlooked, financial literacy is a critical component of aging well. It promotes economic freedom, helping you afford care and housing as you grow older. […]

Four in 10 people believe they do not have enough assets to make a will, according to Caring.com’s 2024 Wills and Estate Planning Study, which surveyed more than 2,400 individuals. This statistic reflects a common misconception about estate planning: that it is only for the wealthy. In reality, estate planning can benefit people across the economic […]

A power of attorney designates a trusted individual to make decisions or conduct transactions on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an ongoing situation. This may sound pretty straightforward. You might be tempted to download a free form to […]

When someone passes away, the probate process ensures that the deceased’s estate fulfills its debts and that the heirs receive their assets. The deceased’s will dictates how to settle and distribute their assets and debts. (If no will exists, state intestacy laws apply.) When a legal dispute arises during the process of probate, probate litigation may ensue. Most […]

In estate planning, the executor, or personal representative, is responsible for managing the administration of the estate after an individual passes away. An executor may be a person or an institution. Their duties include applying for probate and ensuring that the heirs receive assets according to the deceased person’s wishes. When an estate needs to […]

Since the 1960s, Medicaid has provided health care coverage for low-income people across the United States. For millions of seniors, Medicaid offers financial assistance, helping them to cover the cost of long-term care services. Today, this joint federal-state program also benefits other qualifying populations with limited income, including children and people with disabilities. Qualifying for Medicaid […]

The United States Census Bureau predicts that the nation’s population of older adults nationwide will have doubled from 49.2 million in 2016 to 94.7 million in 2060. As the population grows as well as ages, elder abuse remains a significant concern. According to the U.S. Department of Justice, 10 percent of older adults experience some form of abuse […]