Elder Law & Estate Planning News

Medicare tax is an essential component of the United States tax system. It plays a crucial role in maintaining the solvency and functionality of the Medicare program.

Failing to maintain and make new meaningful connections as older adults age can lead them toward a deep sense of loneliness. This can affect their mental and physical health, including increased risk of heart disease, Parkinson’s disease, and dementia.

Older drivers are among the safest of all drivers, a AAA report showed. Nonetheless, state senior driving laws vary widely across the country.

In the ever-evolving landscape of health care, one critical challenge has been ensuring that Medicare recipients receive the coverage they need without undue financial burdens.

Effective September 30, 2024, a new Social Security Administration rule is likely to allow more elders to qualify for Supplemental Security Income (SSI). Some current SSI recipients may see an increase in their monthly benefit amount.

Thanks to a new rule recently finalized by the federal government, obtaining and renewing health care coverage under the Medicaid program is set to become easier for millions of Americans.

A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to “lend” assets to their children and still maintain Medicaid eligibility.

As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.

Though Medicaid exists to help those who need it, navigating the specifics of what it covers and does not cover can be daunting. Here are highlights on the basics of Medicaid coverage.

As adults age, they may want to remain in their homes and communities for several reasons. For one, remaining in one’s own residence preserves independence.

As a spouse, you have the option of claiming a Social Security retirement benefit based on your own earnings record or collecting a spousal benefit equal to half of your spouse’s Social Security benefit.

In late March 2024, U.S. Sen. Bob Casey (D-PA) introduced the Boosting Benefits and COLAs for Seniors Act. The Act centers on changing the formula that the SSA uses to calculate Social Security benefits for older adults.

As of late 2023, the median monthly cost of a semi-private room in a nursing home in the U.S. was close to $9,000. The vast majority of people cannot afford to pay these prices out of pocket over the long term.

Seniors seeking information on assisted living options may find recent data from the Seniorly Resource Center useful. Its new 2024 report sheds light on the costs of assisted living – from the most to the least expensive – across the U.S.

If you are a homeowner who is falling behind on your real estate taxes, you may end up facing foreclosure on your property. Because your property taxes hinge on the value of your property, you may find your taxes rising beyond what you can afford.