Questions and Answers
This would be a great idea! I find it helpful when speaking to parents to let them know you've just gone through the same process. So if you have done a budget for yourself, show it to your dad. If you have not done a budget for yourself, your should! Also it is important to put together an asset... more
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First, have you put your own affairs in order? Do you have your Will, Health Care documents, investments, and all. Sometimes, but showing your parent you have made an effort at putting your own affairs in order will help your parent to discuss his own situation. Also, depression can cloud the... more
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Contact the local VA and make an appointment with a Veteran's Service Officer for more.
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Only if your father served in active duty in the military during time of war (even if he did not fight in the war theater, all he had to be is on active duty for 90 days during time of war) then he may qualify for Aid and Attendance benefits from the Veteran's Administration. Contact the Veteran's... more
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Assisted Living is not covered by Medicare, nor MediCal, so the only level available to them is a nursing home, or limited home care services under a waiver program.
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Check with your area agency on aging in your state. Some states will use Medicaid dollars to pay for limited home care benefits, which can include paying family members, if they are eligible as a home health aide.
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Unfortunately, no, you don't. Only senior citizens who own the home get a senior tax exemption.
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Unfortunately, no, Medicare does not pay for long term care in a nursing home. Only your own money or if you and she can qualify will Medicaid pay for your wife's nursing home care. Your state is an income cap state, you if your income is too high, regardless of the assets you have, you still may... more
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As I always ask "have you done your planning?" If you haven't done yours, then you can't expect your parents to do theirs. Lead by example. Show your mom and dad you Will, Trust and Powers of Attorney for financial and health care matters. Show them you have and are saving for your retirement... more
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I applaud you for being proactive! You are touching on multiple topics with this question. I reached out to a very special person, Chris Cooper to help answer this. Chris is the owner and founder of Chris Cooper & Company, a financial planning firm working with people who own small businesses... more
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