After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018.The annual gift tax exclusion for 2018 is rising from $14,000 to $15,000. This means that any person who gives away $15,000 or less to any one individual (anyone…
What is a Care Plan in Elder Care Planning? Elder care planning is crucial to senior care planning for long-term care. It’s often overlooked. Many people make significant effort planning for other life phases, like retirement, financial planning, home ownership, or a child’s college education. A care plan is a tool that professional caregivers and…
In 2018, Social Security recipients will get their largest cost of living increase in benefits since 2012, but the additional income will likely be largely eaten up by higher Medicare Part B premiums.Cost of living increases are tied to the consumer price index, and an upturn in inflation rates and gas prices means recipients get…
A growing problem with adult guardianship abuse is giving rise to calls for reform of the system. Vulnerable elderly can get caught in the guardianship system, being harmed and exploited by the very process that is supposed to protect them.A guardian is someone appointed by a court to make decisions on behalf of an incapacitated individual…
By Margaret Johnson Ware I’m sure you’ve met those annoyingly proactive people who have all their holiday shopping done by the Fourth of July. I am certainly not one of those people, but there are certain events where it’s necessary to be prepared well in advance. The Medicare Open Enrollment Period (MOE) is one of these…
All of the abbreviations and acronyms we face today can be overwhelming. I stay confused! But Medicare parts should be simpler, right? Here is the breakdown.Medicare Part A– Medicare is a health insurance program for: people age 65 or older, people under age 65 with certain disabilities, and people of all ages with End-Stage Renal…
Most of us are cautious when it comes to taxes. We don’t want to pay more that we should, and we most certainly do not want to evade legitimate taxes and be penalized. So when discussions of the use of Trusts in Estate Planning, Medicaid Planning or Long-term Care Health Care Planning comes up, taxes…
Many seniors and their families don’t use a lawyer to plan for long-term care or Medicaid, often because they’re afraid of the cost. But an attorney can help you save money in the long run as well as make sure you are getting the best care for your loved one. Instead of taking steps based…
“President Donald Trump and Republicans in Congress have committed to repealing and replacing the Affordable Care Act (ACA). How do their replacement proposals compare to the ACA? How do they compare to each other? Plans available for comparison: The Better Care Reconciliation Act of 2017 (PDF) – Updated 7.13.17 The American Health Care Act, as passed…
As a caregiver, you may be exploring your options as to what kind of help will be best suited for you and your loved ones’ needs. Below is an article from agingcare.com to help in your research with Home Care: “The first step in hiring senior services provided in the home is identifying the difference between non-medical home…