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Tag Archives: Medicaid planning

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 »

The truth about the Medicaid penalty for gifts

How to Avoid the Medicaid Penalty for Gifts

By Andre O. McDonald |

Michelle’s children were concerned that Michelle would need long-term nursing-home care in the near future. It was the holidays, and Michelle always got a lot of joy out of generosity. But her children also worried that her generosity could hurt her in the long run, because they had heard that people in Michelle’s circumstances… 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 »

4 Common Power of Attorney Myths

4 Common Power of Attorney Myths

By Andre O. McDonald |

A durable power of attorney is one of the most important estate planning documents you can have. It allows someone who you appoint (your agent) to make non-medical decisions on your behalf in the event you become incapacitated. If you have not appointed an agent then your friends and family may not have the… 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 »

how to choose the right nursing home for your parent or loved one

How to Choose the Right Nursing Home for Mom or Dad

By Andre O. McDonald |

Figuring out how to choose the right nursing home for your mom, dad or other loved one can be overwhelming. It is an important decision, and should be carefully considered. It’s important for families to take the time to explore nursing home options and to carefully assess the nursing home facilities in order to… 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 »

How to prevent elder financial abuse

Elder financial abuse and Medicaid: How are they related?

By Andre O. McDonald |

A major problem faces Americans as they grow older – Elder Financial Abuse. But did you know that there is a documented link between elder financial abuse and Medicaid denials?   What is Elder Financial Abuse? Elder financial abuse is a growing issue for Americans. Studies show that $2.9 Billion are lost every year… 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 »

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