When a person applies for long-term care Medicaid in North Carolina, the Department of Social Services (DSS) conducts a thorough financial review to determine eligibility. A critical part of this review is the 5-year look-back period. This rule can be confusing and is often a source of stress for families. Let’s break down what it […]
Debunking 4 Common Myths About Long-Term Care Medicaid Misinformation about long-term care Medicaid can lead families to make poor financial decisions when they are most vulnerable. It is a complex system, but understanding the truth behind the common myths is the first step toward effective planning. Let’s debunk four of the biggest misconceptions we encounter. […]
What is an Aging Life Care Professional? As our loved ones age, navigating the complexities of their health, housing, and financial needs can become a significant challenge for families. An Aging Life Care Professional, formerly known as a Geriatric Care Manager, is a health and human services specialist who acts as a guide and advocate […]
How the Social Security COLA Affects Your Long-Term Care Medicaid Every year, Social Security benefits typically increase with a Cost-of-Living Adjustment (COLA). For those receiving Long-Term Care Medicaid in a nursing facility, this extra income directly impacts the amount they are required to pay the facility each month. This payment is known as the Patient […]
Is Long-Term Care Insurance Part of Your Financial Plan? We buy insurance to shift the risk of a catastrophic financial loss. We have it for our homes, our cars, and our health. But one of the most significant financial risks many families will face—the cost of long-term care—is often overlooked. Long-Term Care (LTC) Insurance is […]
The Most Important Document You Might Ever Sign: The Power of Attorney Statistics show that the vast majority of us will need a Power of Attorney at some point in our lives. This simple document can be the difference between a smooth, private management of your affairs during a crisis and a costly, public court […]
The Hidden Dangers of Gifting: How Good Intentions Can Go Wrong It is a natural and generous impulse for seniors to want to give financial gifts to their children and grandchildren. While this is a wonderful way to help loved ones, making large gifts without professional guidance can lead to unintended and severe consequences, from […]
Why Proactive Planning is Your Best Defense Against Life’s “What Ifs” Life is unpredictable. While we can’t control every challenge that comes our way, we can control how prepared we are to face them. A well-thought-out plan is the most powerful tool you have to protect your family and your assets from the unexpected. However, […]
A New Year’s Check-Up for Your Health, Finances, and Future The start of a new year is the perfect time to take stock and set goals. To make resolutions less overwhelming, it can be helpful to focus on one key goal for each important area of your life: your health, your finances, and your legal […]
The Unspoken Sacrifice: Planning for the Caregiver The journey of caregiving is one of profound love and sacrifice. Whether it’s a spouse or an adult child stepping into the role, their focus shifts entirely to the well-being of their loved one. In this process, however, the caregiver’s own health, finances, and future are often pushed […]
If you own a corporation or LLC, Google “Corporate Transparency Act” and file your report before the end of the year. Don’t be fined $500.00 per day for failing to file.