The Cost of Living adjustment for Veterans’ Compensation is a 3.6% increase in benefits, effective December 1, 2011 for benefits to be payable in January of 2012. This adjustment applies to the rates of compensation for veterans with service-connected disabilities and the rates of dependency and indemnity compensation for the…
A recent analysis reveals that the largest for-profit facilities maintain staffing levels nearly one-third lower than non-profit and government-owned nursing homes, resulting in a significantly lower quality of care. The study, led by the University of California San Francisco (UCSF), looked at the relationship between staffing and quality of care…
In her recent Wall Street Journal article titled IRS Clarifies Estate Rules, Laura Saunders refers to new rules which make clearer the procedure involved for a surviving spouse seeking to take advantage of the $5 million per individual and $10 million per married couple exemption from estate taxes. Ms. Saunders…
Once the Will is located, it should be given to the Estate’s attorney. Instead of reading the Will out loud (as seen on television), the Estate’s attorney will send copies of the Will to individuals who may have an interest in it. The Estate’s attorney will send a copy of…
Thinking about a time when you will need help taking care of yourself is not fun. That is why most people put off discussing long-term care until it can’t be ignored. But it is better to start long-term care planning early. Here are some reasons to start planning now: •…
In a recent Chicago Tribune article, Daily Money Management Services Keep Seniors Independent, the availability of a personal service to handle paying bills, balancing the checkbook, filing insurance claims and other money management matters is reported on. Amie Hyman, owner of Heartfelt Solutions for Seniors, Inc. in Willow Springs, addresses…
Andrea Donovan of Senior Living Advisors in Riverside, Illinois was recently quoted in a Chicago Tribune article about retirement communities in the Chicago area. In the article, Ms. Donovan points out that there are four kinds of contracts available at Continuing Care Retirement Communities, that is, a community which has…
Asset protection planning is about protecting your assets from creditors – and it is not just for the super-wealthy. Anyone can get sued. Lawsuits can stem from car accidents, credit card debt, bank foreclosures or unhappy customers. If someone wins a monetary judgment against you, your family could become bankrupt…
A federal judge has ruled that retirees cannot dis-enroll from Medicare Part A without also losing their Social Security benefits and refunding all of the money paid to them. Anyone who has reached age 65 and who is entitled to Social Security benefits is also automatically entitled to Medicare Part…
The maximum contribution to a Roth IRA in 2010 and 2011 is $5000, and if you are 50 years or older by the end of the year it is $6000. The top modified Adjusted Gross Income (AGI) for a full contribution for Single individuals in 2010 is $105,000 and in…