Older people are getting divorced more frequently than ever before. Divorce can be a significant roadblock for retirement planning and financial security. Although divorcing earlier in life can have a minimal impact on retirement, divorcing after the age of 50…
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How to appeal a Medicare denial
If you were denied coverage or payment by Medicare, you have the option of filing an appeal. The denial must be from Medicare, your Medicare Prescription Drug Plan or your Medicare health plan. It is within your right to file…
Tagged with: elder law, guardianships, Hook Law Center, long term care planning, Medicare, MSN, veterans benefits
Defining common terms in Virginia estate planning
Estate planning is a complex process, and typically involves learning some new terms and concepts. Some of the most important estate planning terms to understand include: Advance medical directive – A document that details a person’s health care wishes in…
Smart homes for seniors
A new wave of high-tech home devices could help monitor seniors’ health and safety in the home, potentially allowing them to stay at home longer, and providing a sense of security to family members and other caregivers. Smart home devices…
Innovative Alzheimer’s “village” could be a model for the U.S.
An innovative Dutch “village” for Alzheimer’s patients could serve as a model for how the U.S. cares for its growing population of seniors with dementia. The village serves as a protected, self-contained world for its inhabitants. It contains apartments, restaurants,…
Tagged with: Baby Boomer, EUROPE, guardianships, Hook Law Center, long term care planning, United States, veterans benefits
What you should know about Roth accounts and retirement planning
Roth IRAs and Roth 401(k)s allow individuals to make tax-free withdrawals in retirement by saving after-tax dollars. Rather than getting a tax break for saving the money, as with a traditional retirement account, Roth accounts result in tax savings later…
What you should know about myRA accounts
MyRA accounts are a new type of government-backed starter retirement savings account, designed for people whose employers do not offer retirement accounts. As of now, anyone who has direct deposit for their paycheck can sign up and start saving. MyRA…
Increasing number of American retirees affected by student loans
A record number of older adults now carry student loan debt, and the phenomenon is still growing: people over 60 are in the fastest growing age group for college debt, according to a report from The New York Times. A…
Many employers provide back-up elder care
Hundreds of New York employers provide back-up elder care, designed to help employees stay at work when an unexpected problem arises with elder care. Employees who have registered for back-up elder care can call a care organization when they face…
How your life insurance policy can pay for long-term care expenses
A number of companies, such as Life Care Funding, will purchase a senior’s life insurance policy from him or her. In exchange, the company provides a portion of the face value of the policy to individuals facing high long-term care…
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