Florida Elder Law Blog - A blog by Elder Law Associates, South Florida's premier elder law attorneys, who handle elder law, medicaid planning, guardianships and much, much more.
According to some sources, 60% of us will need long term care sometime during our lives. It is important for all of us to prepare for that day when we will need to help loved ones with elder care or we will need elder care for ourselves. Of course, one should always consult with a reputable
Florida elder law attorney before making any concrete plans.
It is simply a fact of life to prepare financially for unexpected disasters by covering our homes, automobiles and health with insurance policies and to provide funding for our retirement. But no other life event can be as devastating to our lifestyle, finances and security as needing long term care. It drastically alters or completely eliminates the three principal retirement dreams of elderly Americans, which are:
1. Remaining independent in the home without intervention from others
2. Maintaining good health and receiving adequate health care
3. Having enough money for everyday needs and not outliving assets and income
Yet, it is our experience that the majority of the American public does not plan for the devastating crisis of needing eldercare. This lack of planning also has an adverse effect on the older person's family, with sacrifices made in time, money, family lifestyles and even affecting the family's or caregiver's medical and emotional health." National Care Planning Council "The 4 Steps of Long Term Care Planning".... read the entire article by going to http://www.planforcare.org.
-- Ellen S. Morris, JD
Labels: Florida Elder Law Attorney, long term care
The Internal Revenue Service has announced the 2009 limitations on the deductibility of long-term care insurance premiums from taxes. Any premium amounts above these limits are not considered to be a medical expense. (For details, click here.)
| Attained age before the close of the taxable year | Maximum deduction |
| 40 or less | $320 |
| More than 40 but not more than 50 | $600 |
| More than 50 but not more than 60 | $1,190 |
| More than 60 but not more than 70 | $3,180 |
| More than 70 | $3,980 |
Benefits from per diem or indemnity policies, which pay a predetermined amount each day, are not included in income except amounts that exceed the beneficiary's total qualified long-term care expenses or $280 per day (for 2009), whichever is greater.
For details from the American Association for Long-Term Care Insurance, click here. Of course, if you are planning for long-term care, you should always consult a Florida elder law attorney.
Labels: Florida Elder Law Attorney, long term care
The appliance market is responding to the demands of boomers who want appliances that help them cope with the aches, pains and other infirmities they confront as they grow older, reports an article in the Wall Street Journal.
Some examples of the "senior-friendly" features for washing machines include pedestals that raise the height of the machine for easier access, large knobs that make a louder-than-usual noise when they're set, and musical chimes to indicate washing temperature.
Click here to read the entire article.Labels: elder care
In 2009, the spouse of a Medicaid recipient living in a nursing home (called the "community spouse") may keep as much as $109,560 without jeopardizing the Medicaid eligibility of the spouse who is receiving long-term care. Called the "community spouse resource allowance," this is the most that a state may allow a community spouse to retain without a hearing or a court order. While some states set a lower maximum, the least that a state may allow a community spouse to retain in 2009 will be $21,912.
Meanwhile, the maximum monthly maintenance needs allowance for 2009 will be $2,739. This is the most in monthly income that a community spouse is allowed to have if her own income is not enough to live on and she must take some or all of the institutionalized spouse's income. The minimum monthly maintenance needs allowance of $1,750 took effect July 1, 2008 and will not rise until July 1, 2009.
The new figures are effective January 1, 2009.
Of course, all Medicaid planning is best done with advice from a
Florida Elder Law Attorney.
--Ellen S. Morris, JD
Labels: Florida Elder Law Attorney, medicaid
