Care Planning | McMahon Law Firm, Attorneys and Counselors at Law

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How can you be sure an aging loved one’s wishes are respected?

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Sep 21, 2020 | Care Planning

The number of older Americans has skyrocketed in recent years. There are few signs it is slowing down. By 2030, one in every five Americans will be age 65 or above. It won’t be long until individuals in this age bracket outnumber children for the first time in U.S....

Tips for choosing a child’s guardian

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 11, 2020 | Care Planning, Estate Planning

Parents in New York and elsewhere have the right to name a guardian for their children as part of their estate plans. However, there are many issues that individuals should consider when it comes to determining who should raise their sons or daughters. For example, it...

Strategies to pay for long-term care needs

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 6, 2020 | Care Planning

According to the Department of Health and Human Services (HHS), an American who is 65 or older has a 70% chance of eventually needing long-term care. In many cases, New York residents and others will use Medicaid to help defray the cost of going to a nursing home or...

The real cost of long-term care

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | May 6, 2020 | Care Planning

Life expectancy for America’s retirees is on the rise. Baby boomers entering retirement today may live another 20 to 30 years. An increased life expectancy is not without complications, though. To fund 30 years of retirement, adults must plan their finances around...

Medicare says visit candidate nursing homes for your loved one

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 29, 2020 | Care Planning

A lot goes into choosing the right nursing home for a loved one, including its record and reputation, costs, and of course its location. Medicare and other experts on elder care also put a sharp focus on visiting the facility. They suggest you call ahead and make an...

Tips for talking to elderly parents about moving

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 25, 2020 | Care Planning

Senior citizens in New York and throughout the country may not relish the idea of moving into an assisted living facility. This is because they fear that they will lose their ability to live independent lives by doing so. However, older individuals may actually be...

The costs of long-term care for seniors

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 20, 2019 | Care Planning

The thought of paying for their long-term care can create a lot of financial anxiety for many families in New York. According to the U.S. Department of Health and Human Services' Administration on Aging, most individuals who are older than 65 will need some form of...

Remember health care in estate planning

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Feb 21, 2018 | Care Planning

New York residents who are planning for retirement are generally focused on income streams, managing risk, minimizing tax implications and Social Security. A key aspect of planning for retirement is the inclusion of health care planning. Many financial planners fail...

The role of long-term care insurance in an estate plan

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 19, 2017 | Care Planning

New York residents who are creating or reviewing their estate plan might also want to think about long-term care planning. People may have planned carefully for retirement, but there might still be unexpected costs associated with long-term care. It is estimated that...

Long-term care benefits for veterans

On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 5, 2017 | Care Planning

Older veterans and the surviving spouses in New York and the rest of the country may be entitled to certain long-term care benefits to which they may not be aware. These Veterans Administration benefits could help to alleviate some the financial burden brought on by...