Helping our neighbors plan for their family’s future and avoid painful issues.
The issue of healthcare has been a thorn in the back of American taxpayers for a long time. The United States spends a staggering $10,348 per person on healthcare, amounting to about 18% of its GDP. This is far more than any other country on the planet. In fact, it is 8 percentage points clear of the average of the industrialized members of the Organization for Economic Co-Operation and Development. The good news Read More
If you or a loved one was given the news that they will need to enter an assisted living facility or nursing home, it can come as quite a shock. What is often even more shocking is the costs that are associated with this type of care. For most people, it will be necessary to have Medicaid step in and cover these costs, but there are a lot of restrictions that need to be accounted for, which is why it is so important Read More
You simply can not afford to grow old in Maryland - not with what it costs for long term health care i.e. assisted living or nursing home care. That is unless you do a heck of a lot of financial planning now, hit the lottery, or work until you die. One is not desirable, one is not likely, and one seems difficult. But you have to do it because nobody else is and the crisis is getting worse. Every year Genworth Read More
How do you know if you need to do estate planning? The easy answer is just about everyone needs to do some form of planning. Fellow ElderCounsel member Nicole Wipp recently developed a brilliant checklist for determining if you need estate planning. With her permission, here are eighteen estate planning checklist questions to help you learn whether you need estate planning. (These cover the most common Read More
What are the estate planning implications of gifting property or money to your heirs? I often get this question during the seminars I give regarding estate planning and Medicaid eligibility. People want to know what happens if I give my heirs some money now? How does that effect my estate? How is it taxed? And is it a good idea? And what is the origin of that silly phrase “Don’t look a gift horse in the Read More
