Continuing Care Retirement Community – Is It Right For Me?
Continuing Care Retirement Communities (CCRCs), are communities that provide a full continuum of care for their residents. They have flexible accommodations designed to meet their residentâs health and housing needs as those needs change over time, offering independent living, assisted living and nursing home care, usually all in one location.
LTACH – What is it and How Can it Benefit My Critically Ill or Catastrophically Injured Loved One?
Medical science has made great strides in the last 30 years. We are certainly living longer. Illnesses and injuries that in the past resulted in death, now do not. However, the recovery period can be a long one, especially for the elderly, whose recuperative abilities are not the same as
How Long Term Care Can Destroy an Estate Plan
Whenever we meet with new clients, especially married ones, I always want to review the estate planning documents that they currently have. Sometimes those documents are 10, 20 or 30 years old. Other times, the clients will say, âOh, we just had our wills updated in the last year so
Thinking About Transferring Your Home – Have You Considered the Tax Implications – Part 2
In my last post I explained how Momâs transferring her home to me during her lifetime will result in capital gains tax whereas passing the home to me after she dies can reduce or even eliminate the tax. However, Mom considered transferring the house because she wanted to protect it
Thinking About Transferring Your Home – Have You Considered the Tax Implications? – Part 1
"Mom wants to transfer her home to me. Do you think itâs a good idea?" A seemingly simple question and one that is probably one of the more common questions I am asked as an elder law attorney. But, not one that I can answer without knowing more. One size
The Unpredictability of Alzheimers’ Disease
So often, when working with families who are struggling to care for a loved one with dementia, the most frustrating part is the uncertainty of the condition from day to day. The recent case in Minnesota of Verne Gagne highlights that very clearly. Verne Gagne was a prominent professional wrestler
The Home – To Transfer or Not to Transfer – Part 2
As we discussed last week, Joe wants to transfer his home to Jim, who lives there with his wife and children. But letâs change the facts a bit. Joe is not healthy but has the early stages of dementia and needs some in home assistance. It is possible that within
The Home – To Transfer or Not to Transfer – Part 1
Home ownership has long been a large part of the American dream. Through the course of the 20th century, the percentage of Americans owning their homes rose considerably. In many of these homes three generations lived under one roof. Today, there still are many 3 generations homes. The reasons for
Reverse Mortgages – Another Look in Today’s Economic Climate
Mom and Dad are living in their home but their health is failing. They do not yet need nursing home level care, but do need some assistance on a daily basis. Their children are running back and forth helping to provide care but it is just too difficult to do
Transferring Assets – A Real Life Picture
When I talk with people about long term care and the Medicaid program I sometimes hear very strong opinions that "it is wrong to transfer assets in order to qualify for Medicaid to pay for nursing home care". The person making the statement, however, typically hasnât really given any thought