From the category archives:

Pre-Planning for Long Term Care

The Basics of Medicaid Qualification

by Jerrold Bartholomew March 6, 2008

It is important to understand the basic rules of qualifying for Medicaid Long Term Care Assistance in order to cope with the financial realities of a relative’s long-term care. The rules below apply in Michigan and have been updated for 2008.
First, you should understand that the rules are different for single people and those who [...]

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Free Durable Power of Attorney

by Jerrold Bartholomew March 5, 2008

The durable power of attorney is an extremely valuable estate plan document. It allows one person to designate an agent to conduct all financial affairs. These documents are typically durable meaning that the power continues through the disability of the principal (the person naming an agent). Alternatively, there can be springing powers of attorney, which [...]

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Late Life Divorce and Asset Protection

by Jerrold Bartholomew March 5, 2008

Many Elder law attorneys advise loving couples to pursue divorce as a method of asset protection. I have never found the technique necessary and, frankly, find the approach ethically questionable. Alternatives exist for both pre-planning and crisis planning that avoid the murky waters of a consensual divorce between an otherwise happily-wed pair. It is [...]

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Is Long Term Care Insurance a Good Idea?

by Jerrold Bartholomew March 4, 2008

This article provides some preliminary answers to an important question for today’s retirees and elderly: Is long term care insurance a good idea?
In general, I advise clients to get long term care insurance. The effects of being unprepared for this financial tsunami are too overwhelming to do otherwise. But be careful and be informed.
Among your [...]

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Constant Change in Medicaid Eligibility Rules

by Jerrold Bartholomew March 1, 2008

When President Bush signed the Deficit Reduction Act of 2006, the states began to implement that law through a steady patchwork of regulations. Michigan issued revisions to Medicaid qualification rules on a quarterly basis throughout 2007 and there is no reason to think that this pace will slow down in 2008. I will be posting [...]

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Long Term Care Insurance for Everyone?

by Jerrold Bartholomew March 1, 2008

States have begun to encourage all citizens to obtain long term care insurance as part of the Deficit Reduction Act. No one likes paying premiums on insurance, but for those of modest means, the premiums are especially burdensome and the benefits, considering that Medicaid is available when the assets run out, negligible. According to this [...]

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