Divorcing spouses and parents have varied life insurance needs. Whenever one or more persons are financially dependent on another’s earnings, there is what the life insurance industry refers to as an insurable interest. In families of two married parents with young children, the primary wage earner often has life insurance coverage equal to several years […]
Medicaid is the primary government program that pays for long-term care. It is a means-tested program; If your countable assets exceed the limit ($2,500 in Maryland, $2,000 in Virginia and $4,000 in DC) you don’t qualify, and Medicaid will not pay for your care. You can give your assets away, but Medicaid looks back five […]
Medicaid is a means tested program. If your countable assets or your income exceed the allowable maximums you do not qualify and Medicaid will not pay your long-term care costs until you do. Once you need long-term care, in the Washington area you will be spending $8,000 – $12, 000 per month on nursing home […]
Medicaid is the primary government program that pays for long-term care of the elderly or disabled. It is a federal-state partnership. Federal law sets out the broad parameters of the program and the states administer it within their borders. Medicaid is a means tested program. If your countable assets or your income exceed the allowable […]
Most Americans do not know the facts surrounding their potential need for long-term care. This was confirmed recently in a telephone survey of 1,735 Americans over the age of 40, funded by the SCAN Foundation and conducted by the Associated Press (AP) – NORC Center for Public Affairs Research. Most People Need a Plan for […]
The cost of long-term care can be catastrophic.We have 78 million aging baby boomers. Few people have sufficient resources to pay for needed long-term care. In an effort to deal with this concern, the Long-Term Care Financing Collaborative (the “Collaborative”) began meeting in 2012. They are now a formalized group. The collaborative’s goal is to […]
Most college-bound freshman are over 18. The law says that makes them adults; parents know better. They are grown-up but new to the world of managing their money, bills and contracts. New to the world of managing their own medical appointments and follow-ups. If you need to talk to the bursar’s office about tuition, grants, […]
by Michael F. Callahan The benefits of a highly detailed, comprehensive power of attorney are numerous. Unfortunately, many powers of attorney are more general in nature and can actually cause more problems than they solve, especially for our senior population. This post highlights the benefits of a comprehensive, detailed power of attorney, including some of […]
Will 2018 be the year you make a Will and complete your estate and disability planning? If you kick it down the road another year it won’t matter … unless 2018 is the year you die or become incapacitated or disabled. In that case, those you care about will wish you had planned better, especially […]
The Problem If you are disabled or elderly you may not qualify for certain government benefits, such as Supplemental Security Income (SSI) and Medicaid , because your income or “countable assets” are too high. Generally your home, furnishings, vehicle and certain other specific types of property are not counted, while bank and financial accounts and […]
Thyden Gross and Callahan divorce attorneys are here to help you. Our philosophy is that a constructive approach to cases, and a respectful approach to clients, lawyers, opposing spouses in divorce cases, best serves our clients.
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