When someone is seriously ill, either with a chronic disease or an acute health condition, their loved ones are often tasked with making a series of difficult choices. Among these may be decisions about long-term care, which many times, they are unprepared to make either emotionally or because they lack good information. In such uncharted [...]
This is a question I am often asked, and it seems I’ve been getting the question with more frequency lately. Although I’ve written on this topic a few times before, I want to give a concise overview of what you need to know about using your long-term care insurance policy in a CCRC, including some [...]
Prior to starting myLifeSite, I spent nearly 14 years in the financial planning business, helping many older adults manage their retirement and long-term care plans. In fact, it was during my time in the industry that I recognized a need for better guidance related to complex senior living decisions, particularly when it comes to navigating [...]
Long-term care is generally defined as a range of supportive services needed to meet an individual’s personal care needs over an extended period of time. Often, long-term care is not medical care; instead, it is help with everyday personal tasks, sometimes referred to as activities of daily living (ADLs) and instrumental activities of daily living (IADLs), although [...]
‘Tis the season for giving. Many seniors use the holidays as an opportunity to give away some of their cash or other valuable assets to loved ones. And while their generosity is no-doubt appreciated by the recipients, there are reasons to be cautious about how much you give away. Gifting to qualify for Medicaid Some [...]
In last week’s post, I highlighted a recent article that discussed the advice that caregivers of a family member who has Alzheimer’s disease would share with others who are newly embarking on this labor of love. Much of the advice centered around the emotional and financial challenges that caregiving can present and the need to [...]
In a former life, prior to founding myLifeSite, I was a financial advisor (FA) for nearly 14 years. Some of the older adults I advised were interested in the benefits of a continuing care retirement community (CCRC, or life plan community)—especially the on-site access to a continuum of care services—but there were a variety of [...]
I was speaking to a group of prospective residents for a new life plan retirement community (also known as a continuing care retirement community, or CCRC) when a question came up about “Medicaid trusts” and how the existence of one could impact a resident of a CCRC. More specifically, I had finished a discussion about [...]
In last week’s blog post, I wrote about 90-year-old oil tycoon T. Boone Pickens and his inspiring attitude about growing older, despite several recent health setbacks. In the article, Pickens suggests being “the eternal optimist who is excited to see what the next decade will bring.” He continues: “I remain excited every day, engaged and thrilled [...]
The phrase “long-term care” refers to a spectrum of care services that people may need — sometimes including skilled nursing/medical care, but often non-medical help with the basic self-care responsibilities of everyday life, also known as activities of daily living (ADLs). This type of long-term care, also called assisted living, may include things like bathing, [...]
