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Can You Visit Nursing Home Residents After They are Vaccinated?

Lavelle & Finn


COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary.  The federal government entered into a partnership with CVS and Walgreens […]

The Attorney’s Role in Medicaid Planning

Lavelle & Finn


Do you need an attorney for even “simple” Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be “yes.” The social worker at your mother’s nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular […]

Who Should Purchase Long-Term Care Insurance?

Lavelle & Finn


Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home — may be paid for in four main ways:  Out-of-pocket. If you have […]

What Is Critical Illness Insurance and Is It Worth Buying?

Lavelle & Finn


Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? Before paying for a plan, you should read the fine print and consider alternatives.  While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles […]

Using Life Insurance as Part of Your Estate Plan

Lavelle & Finn


Life insurance can play a few key roles in an estate plan, depending on your age and situation in life.  There are two main types of life insurance: term and permanent. Term life insurance is the simplest: You buy a policy for a set number of years and you have coverage with a death benefit if […]

Annuities and Medicaid Planning

Lavelle & Finn


In some circumstances, immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.  An immediate annuity, in its simplest form, is a contract with an insurance company under which the consumer pays a certain amount […]

Medicare Premiums to Increase Slightly in 2021

Lavelle & Finn


Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50. The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increases on November 6, 2020. The hike could […]

Ability to Withdraw Money Early from Retirement Plan Without Penalty Expires at the End of the Year

Lavelle & Finn


If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.  Passed in March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows individuals adversely affected by […]

What to Look for When Choosing a Medicare Advantage Plan

Lavelle & Finn


As Medicare premiums rise, a Medicare Advantage plan can seem like an attractive option. But if you are considering switching from Original Medicare to a Medicare Advantage plan, you need to know what to look for.  Medicare Advantage plans are run by private insurers, unlike Original Medicare, which the federal government operates, although the medical […]

Lavelle & Finn, LLP Founding Partner, Martin S. Finn, Recognized and Honored

Lavelle & Finn


Martin S. Finn, JD, LL.M., CPA/PFS Elected to the NAEPC Estate Planning Hall of Fame® and Honored as an Accredited Estate Planner® (Distinguished) Designee by the National Association of Estate Planners & Councils The National Association of Estate Planners & Councils (NAEPC) is pleased to recognize Martin S. Finn, JD, LL.M., CPA/PFS, as an entrant into the Estate Planning […]