Posted by Laura E. Stubberud | Oct 29, 2022 |
No. Since SSDI is really just the right to take your earned Social Security retirement benefit early without a discount for not waiting to full retirement age, the option is no longer available once the wage-earner reaches their full Social Security retirement age.
Posted by Laura E. Stubberud | Oct 29, 2022 |
Medicare will pay entirely for the nursing home for up to 20 days and partially for up to an additional 80, for a total of 100. Any coverage is dependent on your sister needing and receiving skilled care, which seems likely for at least part of this time. The facility should give your sister (or ...
Posted by Laura E. Stubberud | Oct 27, 2022 |
It's no secret that health care remains one of the biggest expenses facing American retirees. Coverage through Medicare, Medicaid, or another insurer will help mitigate these costs to some extent. Yet retirees still tend to pay tens of thousands of dollars for health care over the course of their...
Posted by Laura E. Stubberud | Oct 26, 2022 |
The Social Security Administration has announced that its beneficiaries will see a significant increase – totaling nearly 9 percent – in their monthly Social Security checks come January 2023. This cost-of-living adjustment (COLA) is the largest boost to Social Security benefits in more than 40 y...
Posted by Laura E. Stubberud | Oct 25, 2022 |
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if there's anything you shouldn't include in your will. The answer is yes. There are s...
Posted by Laura E. Stubberud | Oct 25, 2022 |
Each year from October 15 to December 7, Medicare offers you the option to make changes to your Medicare coverage. Changes you make during this Medicare Open Enrollment Period will go into effect the following January 1.
You are not required to make changes to your coverage. But keep in mind that...
Posted by Laura E. Stubberud | Oct 25, 2022 |
It depends on the value of the car and your state's Medicaid program. It's not an issue at all with respect to Medicare. But your Medicaid program may limit your savings to $2,000. If the sale of the car pushes your account over that limit, you might become ineligible for Medicaid until the funds...
Posted by Laura E. Stubberud | Oct 25, 2022 |
This is one of those gray areas about which we get a lot of questions. As agent for your father under the durable power of attorney, your sister has the power to make financial and legal decisions on his behalf.
However, visitation is more of a personal than a financial or legal decision. You don...
Posted by Laura E. Stubberud | Oct 25, 2022 |
Once you become eligible for Medicare, you can enroll in Part D, which helps cover the cost of prescription drugs. Some people choose to delay registering for Part D. In some circumstances, Medicare imposes a late fee on individuals who defer Part D enrollment.
If you opt not sign up for Part D d...
Posted by Laura E. Stubberud | Oct 25, 2022 |
The number of people enrolling in Medicare Advantage programs offered through Medicare-approved private companies has increased over time. Based on this trend, more than half of all Medicare recipients may be enrolled in Medicare Advantage programs by 2025.
As alternatives to traditional Medicar...
Posted by Laura E. Stubberud | Oct 19, 2022 |
November will mark National Family Caregivers Month. You may have a caregiver in your life to whom you wish to bestow your gratitude by designating them as an heir in your estate plan. Whether your caregiver is your own child — or a niece, nephew, grandchild, godchild, stepchild, or even a caregi...
Posted by Laura E. Stubberud | Oct 19, 2022 |
November will mark National Family Caregivers Month. Today, roughly 3 million children reside with grandparents who have committed to being their primary caregivers, according to Pew Research Center estimates.
Grandparents may step in when the child's parents can no longer take care of the child...
Posted by Laura E. Stubberud | Oct 18, 2022 |
Estrangement refers to a breakdown in a relationship, such as a relationship with a spouse or family member, where there is no longer any communication, or communication has become hostile, and the individuals lead separate lives. Although estrangement can significantly impact individuals' lives,...
Posted by Laura E. Stubberud | Oct 18, 2022 |
Recent research by the Kaiser Family Foundation examined the differences between traditional Medicare and Medicare Advantage. While people in either program were similarly satisfied with their care and overall care coordination, some distinctions became apparent.
Traditional Medicare's Strengths ...
Posted by Laura E. Stubberud | Oct 18, 2022 |
More than 55 million people around the world currently suffer from dementia. Advanced age remains the main risk factor for developing dementia. Yet recent studies have uncovered several other potential risk factors for dementia and cognitive decline that you may not expect.
Having poor or...
Posted by Laura E. Stubberud | Oct 13, 2022 |
Choosing the correct home care provider for your aging parents is a huge responsibility. This person will be looking after the needs of those who taught you to walk, talk, and care for yourself. To ensure your parents are well cared for in their golden years, consider the following as you seek ou...
Posted by Laura E. Stubberud | Oct 12, 2022 |
No one wants to think about our death or the death of a loved one. The reality is that death is inevitable, so preparing for end-of-life decisions is essential. Over the past few years, especially with the COVID-19 pandemic, we have all been reminded about life's fragility.
When you are faced wi...
Posted by Laura E. Stubberud | Oct 11, 2022 |
After losing a loved one, consider the best way to honor them and their life. Sometimes, a traditional funeral is not the best fit. Today, there are many alternatives to a traditional funeral service and burial.
If you are seeking to lay your loved one to rest in a nontraditional way, the follow...
Posted by Laura E. Stubberud | Oct 08, 2022 |
When an incapacitated person cannot make personal or financial decisions, state courts may appoint a guardian to assist the individual with determining where to live, what kind of care to receive, or how to manage finances. In some cases, guardians may wish to move their ward — someone whom a cou...
Posted by Laura E. Stubberud | Oct 06, 2022 |
If you are planning to leave an investment property to loved ones, a 1031 exchange may be a helpful estate planning tool for you. Because these exchanges allow you to defer taxes or limit taxes owed at the time of a sale, you can use the money that would have been spent on taxes to increase your ...
Posted by Laura E. Stubberud | Oct 06, 2022 |
From plantar fasciitis to varicose veins, there are numerous bothersome ailments that can crop up and cause chronic foot or leg pain or related issues. For Medicare to cover the costs of addressing these types of health conditions, a physician typically must first deem such treatment medically ne...
Posted by Laura E. Stubberud | Oct 05, 2022 |
A power of attorney is a document that grants various powers and responsibilities to a trusted third party or “agent” who can act on your behalf. This document usually only allows an agent to make non-medical decisions on your behalf. A power of attorney can be a valuable planning tool that lets ...
Posted by Laura E. Stubberud | Oct 05, 2022 |
Many people delay the conversation or thoughts of having to prepare a will. Confronting the possibility of one's death is not easy. However, as the recent death of Anne Heche shows us, not having a will can place a significant burden on your children and cause undesirable complications. Even if d...
Posted by Laura E. Stubberud | Oct 04, 2022 |
A diagnosis of dementia, a category of diseases affecting memory and thinking that includes Alzheimer's disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or...
Posted by Laura E. Stubberud | Oct 04, 2022 |
If you are a high-net-worth individual, it's essential to have a comprehensive estate plan in place. However, every family's circumstances are unique, and there is no one-size-fits-all solution for estate planning.
Below are five estate planning strategies that may be right for you:
1. Make Sure...