Articles Posted in Long-term Care Planning

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iStock_000019669901SmallAssets count when it comes to qualifying for Medicaid as we discussed in another post, “How to Qualify for Medicaid Benefits by Planning Now.” However, some assets related to your funeral expenses are excluded, and prepaying them is an acceptable way to spend down your assets to qualify for Medicaid, or Title XIX.

Here’s what the State of Connecticut allows:

Irrevocable Funeral Trust or Contract

You can prepay up to $10,000 for an irrevocable funeral trust, also called an irrevocable funeral contract. This covers basic service charges, funeral services, preparation of remains, vehicles, etc. Keep in mind that this type of contract cannot be canceled or cashed in. It can only be transferred to another licensed funeral home. Continue reading

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what-next-1-924436-mWhen we get to a certain age, we sometimes experience what is jokingly referred to as a “senior moment.” We forget a name, miss an appointment or overlook a bill.

But if forgetfulness or confusion starts to seriously interfere with daily life, it’s time seek medical help. The symptoms could point to Alzheimer’s or another form of dementia.

What are the warning signs?

How can you tell if someone in your life is more than just a little forgetful and needs a medical evaluation? The Alzheimer’s Association lists these 10 early signs and symptoms of Alzheimer’s: Continue reading

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Grunge Stempel rot PREPAIDYou have probably heard the phrase “spend down” – something you could do to reduce your assets which would help to qualify you for Medicaid.

A prepaid funeral contract is one of those items that are considered exempt. In other words, its value won’t be counted when the Department of Social Services is reviewing your total assets.

The standard amount allowed by the the state of Connecticut for a prepaid irrevocable funeral service contract is $10,000.

Continue reading

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By Carmine Perri

Litigator_cartoonIf you or your loved one is in a nursing home, you need to know your rights! Once you understand what they are, you can better stand up for them.

Just as you are protected in your own home by a set of laws, residents of nursing homes are protected by a Code of Federal Regulations. The “Code” ensures that residents’ right are promoted and protected.

Unfortunately, there are times when this does not happen. And when this is the case, you need to make your voice heard.

But first, you must know your rights. Take a look below at some key resident rights that are often challenged. And let us know if you think they are being violated, we can help you. Continue reading

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By Lara Schneider-Bomzer

long-term care insurance policyIf you’re like so many Connecticut residents, you wonder whether or not you should purchase a long-term care insurance policy.

And whether, or how, it fits into your estate plan.

It’s uncanny that we may own a life insurance policy that will provide for our loved ones after we’re gone – but we don’t have a policy to protect US…while we’re still here…when we need to pay for long-term care.

This blog will explain how long term care insurance policies work. Continue reading

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RetirementAlzheimer’s Disease is just for old people, right? Wrong.

About 200,000 Americans diagnosed with Alzheimer’s are less than 65 years old. Some are in their 40’s and 50’s with children still living at home or in college. The financial implications are frightening. What happens if the breadwinner gets Alzheimer’s?

Over the past few years there have been several high profile stories in the news that highlight the reality of younger onset Alzheimer’s.

Here’s one of them – Continue reading

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AdobeStock_230069977-300x236By Lynda Lee Arnold

Maintaining control over medical care can be challenging in the best circumstances, but we face even more layers of complexity when dealing with the physical and emotional challenges of serious, life-limiting illness or advanced progressive frailty.

Whether you are concerned about ensuring that your own care goes as you intend, or want to protect and respect the wishes of a loved one, there is a relatively new type of medical form – the Connecticut MOLST form – that may help provide some peace of mind.

Continue reading
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