Key Takeaways: Trusts give you control over asset distribution and reduce taxes. Special needs trusts protect government benefit eligibility. Choosing a reliable trustee is crucial for managing the trust. Consult an elder law attorney to create a tailored trust plan.…
Wellness and affordable solutions define a new era of senior consumption. Seniors increasingly focus on proactive and preventative steps to enhance their physical and mental health. To thrive in retirement, technology and community- or home-centered care are transforming wellness, financial…
Low-income families and individuals may qualify for health coverage through Medicaid. However, with the rising costs of long-term care, Medicaid planning has become essential for people of all income levels—including higher net worth individuals—who want to avoid spending down assets…
Considering our own death is one of life’s most difficult challenges. Yet, it is crucial to carefully plan the medical treatment we would want during that time. Medical technology can now prolong life long after the quality of that life…
Along with the SECURE 2.0 Act passed in December 2022, tax provisions were incorporated into the Inflation Reduction Act (IRA), which became law in August 2022. Lower-income households will see automatic tax code changes, while higher-income and high-net-worth individuals should…
Adults with developmental disabilities who cannot make important decisions or care for themselves as adults are typically placed under the care of a guardian or conservator. A court appoints a guardian to make personal and financial decisions for individuals lacking…
To receive federal assistance through Medicaid for nursing home care, assisted living, home care, or adult foster care, individuals must meet strict income and asset thresholds. Because of these rules, many applicants try to give away money and resources to…
The Lewis Katz School of Medicine at Temple University discovered that pharmacological chaperone therapy protects mice from Alzheimer’s disease (AD). Alzheimer’s is a chronic neurodegenerative disease with no cure yet. Abnormal clumps called amyloid-beta plaques and tangled fibers known as…
As we age, legal challenges related to health, finances, and long-term care become increasingly important. Elder law is a specialized area that helps seniors and their families navigate these complex issues. Understanding and planning ahead with the help of a…
An advance health care directive, also called a living will, is a legal document that states your wishes regarding medical treatment if you become unable to make decisions for yourself. Preparing a living will is essential for all adults because…