If you don’t pay your debts, creditors can get a court order to garnish your wages, but what if your income comes from Social Security? The answer is that it depends on the kind of debt. For most types of debt, including credit cards, medical bills, and personal loans, Social Security cannot be garnished to […]
As long-term care insurance premiums keep rising and fewer companies are offering policies, seniors are looking for other ways to help pay for long-term care. Annuity “nursing home doublers” have emerged as a new long-term care option. These doublers can be beneficial, but as with any annuity product, customers should use caution before purchasing. An […]
If you transfer assets within five years of applying for Medicaid, you will likely be subject to a period of ineligibility. There is an exception, however, if enforcing the penalty period would cause the applicant an “undue hardship.” This exception is difficult to prove and rarely granted, but it may be possible in certain circumstances. […]
There are some misconceptions around the role of Adult Protective Services (APS) in the lives of vulnerable adults. Discussions of involvement of APS can elicit feelings of fear or anger due to the assumption that involuntary changes will then occur. A recent fact sheet developed by the National Center on Elder Abuse located at the […]
has been extensive media coverage on the life and death of legendary actor, Robin Williams. One recent revelation made about one year following his sudden death was that Williams had been living with Lewy Body dementia (LBD). What does that really mean? When most people hear about dementia, they associate it with Alzheimer’s disease. But […]
Life Care Planning Lawyers – CT While there is currently no national tracking of instances of financial exploitation of elders, a recent study conducted by the National Institute of Justice found that about 60 percent of the study’s adults over the age of 60 had been targeted by scams. Additionally, many seniors find themselves victimized […]
Over the last two decades, changes in the estate tax laws have caused a great shift in the focus of estate planning. At one time, the primary issue was avoiding a 55% estate tax rate on a relatively modest level of assets. For example, in 1995 the federal estate tax exemption was only $600,000. Back […]
Winter brings holidays, chilly weather, and basketball season. In Connecticut, collegiate women’s basketball is a source of pride and joy for thousands of residents. Countless fans across the nation are familiar with the name Pat Summitt. She is known as one of the best coaches in collegiate women’s basketball, having led the University of Tennessee […]
‘Tis the season for listening to holiday music, shopping special sales, sharing a nice meal, and spending time with the family. The holiday season is a perfect opportunity to gather to enjoy gifts and create new memories. It also allows family the time to reflect on memories of the past and to share their thoughts […]
Annuities can be valuable retirement and longevity planning tools, but they are complex financial products that can be misused. There are two kinds of annuities: variable and immediate. Variable annuities have gotten a bad reputation in recent years because they are often sold to people, especially seniors, for whom they are inappropriate. Immediate annuities, on […]