I got a lot of phone calls about long term care planning after an article on Medicaid planning I ran a month or so ago. There were common areas of concern from spouses, parents and children caring for loved ones about the nature and range of financial planning options for long term care so here…
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Five Planning Pointers for Parents with Disabled Children
1. Buy enough life insurance. A parent is irreplaceable. However, someone will have to fill in. It may be siblings or other relatives. In all likelihood, that family will have to pay for at least some services the parent or parents had provided when able. If the estate is not large enough for this purpose,…
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My mother was the widow of a veteran for many years and raised us children alone.
Several years ago she remarried. Is she entitled to any pension assistance now that she needs assisted living? The pension eligibility criteria for surviving spouses include the following: (1) Can be any age, whereas a veteran applying must be 65 years or older or 100% disabled; (2) Must have been married to the veteran for…
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SC Homestead Exemption Program
The Homestead Exemption provides tax relief to South Carolinians who are age sixty-five or older, blind, or disabled. In order to qualify you must: 1. You must be a co-tenant, have a joint with rights of survivorship interest, or a life estate in your primary residence 2. As of December 31 of the preceding tax…
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