Does this dilemma sound familiar? On one hand, you want to keep control of your life and make all of financial and medical decisions yourself. On the other hand, you want to be sure the “right” person (the person you trust) is appointed to make those decisions for you, and moreover, how you would want […]
Thirty years ago next month, my mother died in a nursing home. Back then, there weren’t open discussions, shared knowledge, or resources available to people with Alzheimer’s Disease. Most seniors died from “hardening of the arteries” or just “old age.” There were no home care agencies or day programs for those with memory loss, support […]
To whom do you trust to give your financial planning advice? Your accountant? Your kids? The guy you have coffee with at Dunkin’ Donuts? Your lawyer? God forbid. The point about financial planning, like all planning, is that you can’t plan how to get where you want to go unless you know where you’re going. […]
I love being at Mirick O’Connell because when my elder clients inevitably call me at this time of year asking tax questions, I can always rely on the lawyers here who have focused on tax issues their entire lives instead of looking things up. Here are a few quick tips that are especially relevant to […]
Most seniors, like my friends Frank and Mary, hope they can live in their home until they die. But hope is not a plan. Here are some tips: It’s February. You’re stuck inside because of COVID-19. Now is a great time to do planning that will keep you at home. I will be discussing staying […]
In previous columns I have explained how, whether you are single or married, you can always qualify for MassHealth at the last minute if you need to. Knowing that to be true, do you still need to plan ahead? The answer is yes, however, the planning is different depending on whether you are single or […]
Read More… from The Planning You Need to Qualify for MassHealth
Every December my clients ask whether or not it makes sense to make gifts to their loved ones. In addition to getting to hear “thank you”, there are several advantages to giving assets away before you die, with few disadvantages. GIFT AND INCOME TAX IMPLICATIONS. Despite common misconception, Massachusetts has no gift tax. There is […]
It is important to know your options when it comes to qualifying for MassHealth should you require home health care or nursing home care. Many seniors who are single often lose sleep worrying about this very issue. Rest assured, whether you are married or single, you can always qualify for MassHealth even if you own […]
Whether you’re married or single, if you need MassHealth because you need nursing home care or need a lot of care at home, you can always qualify for MassHealth. This month, I’ll talk about the rules if you’re married. Next month, I will do the rules if you’re single. If you’re married and need MassHealth, […]
Read More… from The Couples Guide to Qualifying for MassHealth
As a senior, you know that every year you need to spend some time looking at next year’s Medicare D drug plans. Not only do you have the ability to change plans every year, but the companies that offer the plans (there are actually over 20 of them in effect in 2020) can and do […]