Categories



Medicaid Spend Down: Pay for More Than Just Medical Bills

Lavelle & Finn


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 […]

Which States Have the Best Protections Against Elder Abuse?

Lavelle & Finn


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 […]

Retirees: Deduct Your Long-Term Care Insurance Premium

Lavelle & Finn


Even if you have a long-term care insurance policy, you may likely be hoping that you won’t ever have reason to use it. Regardless of what the future holds, there’s one silver lining of which you may not be aware. That is, premiums on many long-term care insurance policies are in fact tax-deductible. What Is […]

Getting Help When Providing Care at Home for Aging Parents

Lavelle & Finn


As they grow older, your parents may prefer to continue living in their home rather than moving to a long-term care facility. They are not alone in this; more than three-quarters of adults over the age of 50 say they would prefer to age in place. If your parent can safely live at home on […]

A Seniors Guide to Estate Planning

Lavelle & Finn


Most older adults acknowledge that estate planning is essential. Yet, nearly half of Americans age 55 or older do not have a will, and even fewer have designated powers of attorney, a living will, or health care directives. These legal documents help guide your representatives to provide the end-of-life wishes you seek. Estate planning also reduces the […]

Medicaid Planning Protects Your Home

Lavelle & Finn


Your most valuable property may be your home, which is true for many people. You likely want your children to inherit that value when you pass away. However, you may also have concerns about planning for the future, especially if your health declines and you need expensive long-term care. You may be aware that Medicaid can pay for these services. However, Medicaid rules […]

What Is MAID (Medical Aid-in-Dying)?

Lavelle & Finn


Many people seek to avoid situations in which life is unnecessarily prolonged. Subsisting on expensive life-support long beyond when treatment might improve one’s quality of life can be cruel. With advance directives, including living wills and powers of attorney, you can outline your wishes ahead of time. These documents allow you to communicate your medical […]

Crummey Trust: A Safe Way to Give Financial Gifts to Minors

Lavelle & Finn


Many parents and grandparents want to pass their wealth to their children while they are still alive. Gifts to children or grandchildren can be a good way to reduce a taxable estate. At the same time, you can control when the minor will receive access to the funds you are gifting. Not to mention this can […]

Medicare Benefits 2024: 5 Positive Changes for Seniors

Lavelle & Finn


More than 65 million seniors across the country benefit from Medicare, a government health insurance program. When Does Medicare Start? At age 65, you become eligible for Medicare if you are a U.S. citizen. You do not have to wait until you retire to apply for the program. You can enroll in Medicare beginning three […]

Are You a Family Caregiver? New Bill Seeks to Lower Costs

Lavelle & Finn


Recently proposed legislation seeks to offer financial relief for unpaid family caregivers. Introduced in November 2023, the Lowering Costs for Caregivers Act of 2023 is the result of a bipartisan effort to lessen the costs of family caregiving. The American Association of Retired Persons (AARP) has also endorsed the bill. If the act becomes law, it would amend the […]