Federal law dictates that only someone below a benchmark level of assets can qualify for Medicaid, beyond which it is determined that the individual does not have the assets to pay for his or her own care. Many seniors who…
Tag: estate planning
What Are Pooled Special Needs Trusts?
A special needs trust can be a crucial tool for many families to pass on assets to their special-needs children without jeopardizing the recipient’s eligibility for public benefits. Some families may be interested in “pooled special needs trusts,” which offer…
Companies to Rehire Boomers as Post-Retirement Consultants
Large numbers of baby boomers will reach retirement age soon, and that could result in a shortage of knowledgeable and experienced managers at many companies. To fix this problem, many executives are planning to rehire boomers as independent contractors after…
Choosing Between Single-Life and Joint Pension: Is “Pension Maximization” as Good as It Sounds?
A worker nearing retirement with an employer pension plan will usually need to decide between a single-life plan and a joint-and-survivor plan. The single-life plan terminates when the worker dies, and the joint-and-survivor plan continues for as long as either…
Diversify Retirement Savings Beyond Pensions
Workers with defined-contribution plans, such as 401(k)s and IRAs, know that the value of their retirement savings can fluctuate with the ups and downs of the economy. The markets tend to grow savings in the long run, but nothing is…
Social Security Financial Outlook Report Forecasts Trust Fund Depletion
Each year, the Social Security Board of Trustees releases its yearly report on the long-term financial outlook of the Social Security Trust Funds. The report includes projections for when those trust funds will be depleted. Social Security holds reserves in…
Americans Support Raising Taxes to Protect Social Security
Despite years of debate on Capitol Hill, Congress has failed to act on Social Security reform. Any reform proposal with a fighting chance would likely include an increase in payroll taxes. Would the American public support such measures? Recently, the…
Seniors Part of Study To Improve Cognitive Skills
House Majority Leader Eric Cantor made headlines in late February 2013 when he stated The National Science Foundation wasted more than $1 million on seniors, paying them to play the online, virtual-world game World of Warcraft and studying the effect…
A Call for Virginia Salute to Senior Service Volunteer Nominations
A home health care provider for seniors is asking Virginians to nominate an outstanding senior volunteer for state -- and possibly national -- recognition. The Salute to Senior Service program by Home Instead Senior Care celebrates seniors 65 and older…
