If you’re like 70% of people in the US who have a retirement plan, you still haven’t worked with a professional such as an elder law attorney in Northwest Iowa in order to determine how much money you really need to save. A recent study found that only about 30% of this group has actually sat down with a professional to come up with a realistic number. [Read More]
When you build a house, you want to do so efficiently. Pine 2x4s are cheaper than 1½” oak floor boards, so that’s what you use to frame the house. When you’re making your estate plan, you don’t want the family farm to wind up being sold to pay a tax bill, the costs of probate, or the medical expenses of your beneficiaries. Fortunately, with a little forethought and some organization, you can avoid those kinds of problems and make a plan to pay or even avoid those costs without jeopardizing your wishes. [Read More]
Life is full of transitions, and the end of someone’s life can be the most significant transition of all. Amidst the emotional challenges that come with laying a loved one to rest, it can be intimidating to discover that you’ve been designated as the executor of your loved one’s estate. Then you find out you are a fiduciary and the heavy responsibility that imposes, and suddenly you’re feeling like a fish out of water. [Read More]
If you’re dealing with a nursing home, it will quickly become clear that the options for paying the care bill are dizzying. Paying out of pocket is cost prohibitive. Long-term care insurance is probably not workable. For many, that leaves Medicaid, but those rules are spread over hundreds of pages of federal and state statutes, regulations, and policy manuals. What you need is an oasis from the stress, not the exponentially increasing stress that comes from trying to make sense of all those rules. Don’t despair. You can achieve calm in this whirlwind. Follow these five steps and you’ll soon find that the zen of nursing home planning is easily reached. [Read More]
Last week, we talked about the fact that many people see estate planning as an intimidating, even scary, process – only 45% of people have had their will prepared! But we also showed you the zen approach to creating your will with the help of an estate planning expert through planning ahead, organization, communication and clarity. And, surprise, those same principles apply to creating a trust. But, while the principles are the same, the zen of trust planning can be quite different from creating a will. [Read More]
Over the last seven years of advising clients, I have come to the realization that many people aren’t doing estate planning because it’s intimidating. It’s scary. Depressing. That’s a lot of negative emotion! But I don’t think estate planning is a negative experience – quite the opposite. Follow this guide to finding the Zen of creating your will, and you’ll soon discover that all those negative thoughts have been replaced by peace of mind about your final affairs. [Read More]
At an average of $180 per day in Iowa, paying $60,000 per year for a nursing home is not only likely, but it’s almost guaranteed. Staring that number in the face can make your stress level rise pretty quickly. So, you ask the nursing home social worker for information about applying for Medicaid. Unfortunately, nursing homes are being put in a position where they simply can’t talk to their patients about Medicaid eligibility planning. As a result, there are a few things the nursing home social worker may not tell you. [Read More]
Nursing homes are expensive. Whether you’re looking at long-term care insurance well in advance of needing care or you’re visiting with the nursing home admissions office to move your elderly mother into her room tomorrow, you know that the out-of-pocket costs for nursing home care can quickly reach five digits. Paying $60,000 per year is not only likely, but it’s almost guaranteed. In the face of numbers like this, it’s only natural to despair. But you don’t have to feel lost as you face down the looming nursing home crisis. [Read More]
The needs of women have been changing dramatically over the past several years. Gone are the days when a woman was expected to stay home and live on an “allowance” if her husband chose to give her one. Instead, so many women today have their own jobs, their own finances, and their own desire to protect their assets. In addition, women typically live longer than men. [Read More]
Families who have members with special needs have a variety of concerns that most of the population don’t deal with on a regular basis. Whether you’re traveling to occupational therapy appointments, choosing the most effective medical devices, or contemplating whether to “mainstream” your special needs child, there are so many parts and pieces to keep in mind. For that very reason, you may not have even considered the need to meet with a special needs planning lawyer in Northwest Iowa. [Read More]
