Tag Archives: family

Capital Gains Tax Bypassed

Peter and Gail were nearing retirement. Over the years, with the help of their financial advisor, they made solid investments in securities and built a sizable portfolio. While their investments increased substantially in value, their potential capital gains tax bill was rising. Now with retirement on the horizon, they were looking for a way to sell their highly appreciated stock, generate income for their future and avoid paying high capital gains tax. Continue reading

Nursing Home Costs Rise Sharply in 2017

Elderlawanswers.com reports that the median cost of a private nursing home room in the United States has increased to $97,455.00 a year, up 5.5% from 2016, according to Genworth 2017 cost of care survey, which can be found at www.genworth.com/aboutus/industry-expertise/cost/of-care.html which the insurer conducts annually.  Genworth reports that the median cost of a semi-private room in a nursing home is $85,775.00, up 4.44% from 2016.  The rising prices is much larger than the 1.24% and 2.27% gains, respectively in 2016. Continue reading

Transferring Assets and the Five Year Look-back

When an individual applies for Medicaid assistance in a nursing home, one of the first questions that is asked of them has to do with whether a transfer has been made of any asset for less than fair market values within five years (60 months) of the date of the application.  If such a transfer has been made, a “penalty period” will result depending on the value of the gift.  The larger the gift, the longer the penalty period.  Continue reading

3 Ways Caregivers Can Get Financial Assistance

If you are a caregiver looking for financial assistance, there are several programs that may be able to help you. While you will still have to pay some out-of-pocket, taking advantage of these services can help you reduce the amount that you are personal spending on caregiving. Here are three ways you can get financial help. Continue reading

Ways Caregivers Can Avoid Elderspeak with Seniors

Elderspeak occurs when someone in a senior’s life, whether well-meaning or not, uses language that talks down to an older adult by focusing on their age and ailments instead of what they can do and who they are. While elderspeak is often used unintentionally by healthcare professionals, it can have huge negative effects on seniors, particularly those who suffer from Alzheimer’s or other types of dementia. Here are five ways caregivers can try to stay more aware of what they say and do so they can avoid elderspeak. Continue reading