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2024 Standard Protections for Spouses of Medicaid Applicants

Lavelle & Finn


Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits. These protections, known as the Spousal Impoverishment Standards, help to support the financial well-being of seniors who continue residing at home while their spouse on Medicaid […]

Getting Social Security Checks While Living Overseas

Lavelle & Finn


Many retirees look forward to traveling in their retirement. More and more are actually retiring overseas, in part as a way to stretch savings. But what happens to retirees’ federal benefits while they are out of the country? The short answer is that although Social Security benefits are available to retirees in other countries, Medicare […]

What Are the Different Types of Adult Day Care?

Lavelle & Finn


Adult day care, also known as adult day services, includes programs that assist seniors in completing activities of daily living, such as bathing, going to the bathroom, and getting dressed. Adult day services also help older adults remain social as they age, an important part of maintaining a healthy lifestyle. If you are the caregiver […]

Selling Your Life Insurance Policy to Help Cover Expenses

Lavelle & Finn


The National Council on Aging reports that more than 16.5 million adults 65 and older experience economic insecurity, with incomes below 200 percent of the federal poverty level. Rising housing and health care bills can burden seniors on fixed, limited incomes. Life insurance is an asset that many older adults have. According to Vital Life, 57 percent of […]

2024 Annual Gift and Estate Tax Exemption Adjustments

Lavelle & Finn


With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service (IRS). Gift Tax Exemption for 2024 Every calendar year, you can gift up to a certain amount to another individual (or individuals) tax-free. These gifts can include […]

Using a QTIP Trust in Estate Planning

Lavelle & Finn


Estate planning is crucial when managing valuable assets and ensuring the smooth transfer of wealth to future generations. There are various types of estate planning tools available, some of which may be more useful depending on your circumstances. For some, a qualified terminable interest property (QTIP) trust may be one practical option to take into […]

Should My End-of-Life Care Plan Include a Death Doula?

Lavelle & Finn


Death doulas are available for people who are approaching the end of their lives, whether it is because of advanced age or illness. The service these professionals provide can help families and individuals who need additional supportive care. Adding a death doula to your end-of-life care plan may help you and your family feel like […]

14 Essential Questions to Ask Aging Parents This Holiday

Lavelle & Finn


About 45 percent of adults say they plan to travel for the holidays, per The Vacationer. With multiple generations getting together for holiday meals, gift exchanges and quality time, these annual gatherings present an opportunity to broach sensitive but important topics with your aging loved ones. By communicating with them and knowing their wishes, you can help them […]

PACE Program Helps Seniors Remain at Home

Lavelle & Finn


Most seniors want to stay at home as long as they can instead of moving into a nursing home. The little-known Program for All-Inclusive Care of the Elderly (PACE) provides care and services to some nursing home-eligible seniors and disabled individuals, enabling them to remain in their home far longer than they might otherwise be […]

Is an Independent Living Facility Right for Me?

Lavelle & Finn


Housing options and the associated costs are among the top priorities for many seniors. Today, the housing market is unpredictable, while many seniors currently living independently may also have concerns about continuing their lifestyles. Moving to an independent living facility may be the best choice to accomplish your financial goals and maintain your way of […]