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Tag Archives: long term care planning

What you need to know about hybrid long term care insurance policies

Benefits of a Hybrid Long Term Care Insurance Policy

By Andre O. McDonald |

You have probably heard about the astronomical costs of nursing-home care if you become seriously ill or injured. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet either, if you’ve heard horror stories about skyrocketing premium costs and difficulties in… Read More »

What you need to know about how to care for an elderly parent

How to care for an elderly parent

By Andre O. McDonald |

As much as you may try, aging is something you cannot escape, and it affects all families. It can be challenging for adult children to imagine their parents as seniors and to understand and respond to the reality that each parent will age differently. Even if you are in the fortunate circumstance where your… Read More »

The truth about how to protect assets in a second marriage.

How to Protect Assets in a Second Marriage (The Right Way)

By Andre O. McDonald |

When people marry for the second time (or more), losing assets to pay for their new spouse’s serious illness is probably the last thing on their minds when they say “I do.” But that could happen. Current costs for long-term care facilities can run between $70,000 – $150,000 annually. Studies show that 70% of… Read More »

Dementia and it's impact on a marriage

Dementia and its Effect on a Marriage (UPDATED: August 2019)

By Andre O. McDonald |

(Columbia, MD) When someone you love, in particular – your spouse – becomes ill, you want to help them get well. But what happens when the illness is dementia? A marital relationship that could have spanned years or decades becomes subject to enormous change, and that change is not a slow linear progression of… Read More »

Do I need long-term care insurance?

Do I Need to Buy Long-Term Care Insurance?

By Andre O. McDonald |

Long-term care insurance is very beneficial for the elderly or disabled person who will need services or support to meet their personal care or health needs. However, it is important to understand long-term care insurance before the time comes when the benefits are needed. Unfortunately, many people wait and then miss out on what… Read More »

Woman looking after sick father

Caring for Mom & Dad: Senior Living Options for Elderly Parents

By Andre O. McDonald |

As Americans age, senior living options can become a concern. Often, the responsibility falls on adult “children” to research and choose the best living options for elderly parents. Available options are tied to the resources a senior has to cover living costs, and vary widely in cost, assistance, and care provided. In addition to… Read More »

Medicare vs. Medicaid: Understanding the Difference

Medicare vs. Medicaid: What’s the Difference?

By Andre O. McDonald |

Medicare and Medicaid have long been a mystery to many consumers. In fact, it can baffle and confuse even some of the smartest citizens. Like me, you might have thought, “I don’t need to worry about this right now.” However, it is never too early to gain a little understanding and awareness that just… Read More »

As long term care insurance has become unaffordable for many

Creative Financial Approaches to Long-Term Care Planning

By Andre O. McDonald |

Long term care insurance was sold aggressively in the 1980’s, 90’s and thereafter to offset the costs of seniors needing to live in a nursing home or assisted living facility, or needing at-home health care. Now, however, the business of long term care insurance has dramatically changed. What was once over 100 insurers providing… Read More »

What is a Medicaid Divorce?

Can a “Medicaid Divorce” Protect Your Assets?

By Andre O. McDonald |

The term Medicaid divorce refers to a strategic (yet often controversial) legal concept where an otherwise happily married couple will seek a divorce so that one spouse can qualify for Medicaid assistance, and impoverishing the well spouse. To better illustrate why a married couple might consider a Medicaid divorce, let’s take a look at an… Read More »

Understanding the importance of long-term care planning

The Importance of Long-Term Care Planning

By Andre O. McDonald |

Life expectancy in the United States has continued an upward trend over the last several decades. The average life expectancy for men is 76.4 years and the average for women is a healthy 81.2 years of age. What has not trended upward, however, is the number of people engaging in long-term care planning. The… Read More »

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For help with estate planning, special needs planning, elder law or Veteran's Pension Planning needs throughout Howard, Montgomery, Prince George’s, Anne Arundel, and Baltimore County; and Baltimore City, contact McDonald Law Firm, LLC.

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McDonald Law Firm, LLC

Columbia Office

10500 Little Patuxent Pkwy, #420
Columbia, MD 21044-3563

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(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

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2101 L Street, N.W., Suite 300
Washington, DC 20037

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