Americans are living longer and healthier lives than ever before. And while this is true, it’s also true that more of us than ever before will need some form of long-term care. This fact changes the way we look at both retirement planning and estate planning. There are three main ways to pay for long-term care: Pay out-of-pocket through savings or by selling off assets. This method of paying for care requires advance planning and may have a great effect on the size and type of inheritance … [Read more...] about How Will You Pay for Long-Term Care?
Medicaid
What is Medicaid?
Part of making a comprehensive, effective estate plan is figuring out how best to pay for long-term care, should the need arise, while preserving your savings and other assets for your loved ones. Medicaid is a common option for covering the expense of long-term care, but for many people, qualifying for Medicaid takes some careful planning. So, what exactly is Medicaid? Medicaid is a need-based government health insurance program. It’s federally-established, but it’s administered on the … [Read more...] about What is Medicaid?
