I frequently get questions about home care benefits for Veterans, particularly on the Aids and Attendance Pension Benefit.If you are a Veteran or a surviving spouse of a veteran you could have benefits for home care assistance that you are unaware of. Here is some valuable information on the Aids and Attendance Pension Benefit that could be a great financial help to you.
Watch this video on the Aids and Attendance Pension Benefit and then get the facts below.
Aid and Attendance Pension Benefit
The Aid & Attendance level of the pension benefit is very substantial for those who qualify. In 2009, the maximum annual benefit is: Read the rest of this entry »
According to American Association for Long Term Care Insurance, there are 4 mistakes you want to avoid:
1. Waiting too long to start planning. You don’t have to buy insurance protection today; but at least find out what a policy will cost. If you take prescription medications or have health conditions, find out if you can qualify. Ask what health changes might make you ineligible to qualify.
2. Believing it won’t happen to you. Denial is the best reason not to plan. And, honestly, we hope you live a long life … never have an accident or illness. Yes, we hope you never need long-term care. We also hope you never have a car accident. But hope is not a strategy. Planning for the future is.
3. Counting on government programs. If you are age 50 to 55, are you need to be ready to count on Medicare and Medicaid to pay for the care you want in 15 or 20 years. Everyone wants someone else to pay the bill. If you prefer having choice, options and independence, then you’d better have a plan in place … just in case.
4. Not working with a long-term care insurance professional. As you’ll find us saying many times, costs vary between insurers, discounts vary between insurers, as well as acceptable health conditions. You want to work with an experienced and knowledgeable professional who stays current on policies and can get you the best coverage for the best price. Are we biased in favor of our Association members? You bet!
Good Morning. Jody here. I came across this valuable article and want to share it with you. It was written by a financial planner that deals with the elderly and gives some helpful tips on addressing financial situations. Enjoy.
The ages of my clients range from young families to elders. Because several of my current clients are the children and grandchildren of people who began working with me more than 20 years ago, I’ve been gratified to have been able to witness the long-term results of my advice, and my clients have generally been grateful for the long-term guidance they’ve received.
I recommend to both my elderly clients and their adult children that if they haven’t done so already, they should start talking with one another now, and begin identifying potential areas for improvement. Too often, adult children don’t know much about their parents’ finances. The typical reason they cite for their lack of knowledge is reluctance to “pry” for fear of appearing too eager for an inheritance.
Ideally, a dialogue about financial and estate planning should begin when the elders are still healthy and fully competent, but unfortunately many families don’t discuss these matters until a crisis hits, which is the worst time to have to make important decisions.
