When it comes to addressing long-term care costs in their elderly years, some individuals rely on benefits from Massachusetts’ Medicaid program: MassHealth. So, what the eligibility rules are for such benefits can have major impacts on seniors in the state. Some changes have recently been proposed to these rules.
When a person has a disability, a lot of unique financial issues can come up for them. This includes issues related to things such as saving money, long-term care costs and public benefits eligibility. Special needs planning may be able to help with preparing for such issues and protecting the interests of a person with disabilities when it comes to such issues.
There are many worries an elderly individual may have regarding nursing homes. Among these are concerns about whether they will be able to find a high-quality nursing home in their area if they end up needing nursing home care. So, seniors here in Massachusetts may wonder: How is Massachusetts doing when it comes to nursing home quality?
The term “trust” describes a rather versatile set of estate planning devices. There are many different kinds of trusts a person could include in their estate plan here in Massachusetts. The different types of trusts vary in what they can do and what kinds of goals they are aimed at helping with.
We all know that exercise can have physical health benefits, including for the elderly. But might exercise also be able to help with mental health issues for seniors, like cognitive decline? A recent study suggests it very well might.
An injury can have the potential to impact a person for the rest of their life. This can particularly be the case for seniors, as the various things that go along with old age can make recovering from an injury difficult. Elderly individuals sometimes never fully recovery from an injury.
Federal estate tax exemptions have gone up in the past several years, and now most Massachusetts residents do not have to worry about the issue. However, estate tax laws could always change, and some people want to plan for the potential for lower exemptions and higher estate taxes in the future.
There are many reasons why a person may want their home to stay in the family after they have passed away or are no longer able to use it themselves. For example, they may want their spouse or another family member to not have to worry about where they are going to live or how they are going to afford housing. Also, a family home can carry a lot of memories with it, so a person may have a desire to pass on such a home to future generations of their family to help with preserving these memories and to give these generations the opportunity to enjoy to home and its connection to family tradition.
There are various methods individuals could turn to for trying to address the possibility of having high long-term care expenses in the future. For some, setting up certain kinds of trusts could be of help when it comes to their goals on this front. Another planning strategy some use is getting long-term care insurance.