Our isolated seniors are spending more and more time online as a way to connect with family and friends. While this is helping them through a difficult pandemic, they are opening themselves up to certain risks from being online and communicating on various platforms.
There are two types of insurance that offer benefits for serious illness – long-term disability insurance and critical illness insurance. While a regular health insurance plan typically offers comprehensive coverage for all types of illnesses many of those plans require the policy holder to pay a considerable amount of money out-of-pocket for critical illnesses.
When you set up a trust as part of your comprehensive estate plan, it is important to know how this will figure into your income tax filings. All trusts become separate legal entities upon creation. Therefore, depending on the type of trust you create, you may need to file a separate tax return for the trust itself.
The largest coordinated sweep of identity fraud involving US seniors has recently been conducted. The US Department of Justice has reported that more than one million elderly people have collectively lost hundreds of millions of dollars because of this targeted financial abuse.
The United States veteran population is some 20 million strong, many of whom face health challenges separate from non-Veterans. Due to their military training, Veterans have a well-defined culture that is strong on values, codes of conduct, respect of superiors, and customs to name a few.
Many elderly people who are diagnosed with dementia are unprepared for future care. Once this type of diagnosis is received, preparing for the future can no longer be avoided.
As more and more COVID-19 vaccines are being distributed to nursing homes throughout Maryland, residents are hopeful that the pandemic is coming to an end. They are also hopeful that increased visitations will begin to occur in nursing home facilities.
Children with disabilities may require more financial assistance and on-going personalized care that requires significant planning and structure. Most parents find that a special needs trust is their best option for accomplishing their goals to provide continued assistance.
There has been a lot of speculation about the new Biden tax plan and whether it will be enacted with retroactivity causing the new legislation to take effect on January 1, 2021. The start date matters because high net worth individuals are looking for ways to maximize the federal estate tax exemption allowed under the Trump administration.
A key mistake when it comes to Medicaid, is not carefully planning for your assets, according to the Pauls Valley Daily Democratarticle titled "Misunderstandings create traps in planning."
