Whether you live in a retirement community or have a nurse come to your home once per week, the cost of late-in-life health care is high. This is why long-term care insurance in New York is an important part of planning for a long, healthy life. According to the New...
3 FAQs about long-term care in New York
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 27, 2021 | blog, Care Planning
Medicare does not cover nursing home stays and non-skilled assisted living situations. These costs are expensive, especially in New York. In Syracuse, the prices of nursing home living can be as much as $12,000 per month. According to LongTermCare.gov, about 60...
Important estate planning tactics for young parents
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Nov 17, 2021 | Care Planning, Estate Planning
If you are young, you may not have thought about estate planning because you think you have a long time to live, or you may not have many assets to worry about. However, once a child comes along, things change. It is imperative that you begin making a plan for the...
What should you include in your health care directive?
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 27, 2021 | blog, Care Planning
Preparing your advance health care directive in New York can bring you peace of mind. It can be a comfort knowing that your wishes will be met once you are no longer able to make your own decisions about your health care. What is an advance health care directive? An...
Tips for talking to your parent about assisted living
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Feb 4, 2021 | Care Planning
People in New York often find it hard to talk to their elderly parents about assisted living. Older adults frequently view the move to a senior living community as the end of their independence. For that reason, many seniors avoid discussing the topic out of fear and...
Do I have to wait five years for nursing home care?
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Feb 1, 2021 | blog, Care Planning
Millions of Americans live in nursing homes. This is often the best option for those who need round-the-clock assistance. But how exactly do these people pay for this care? Most people in New York will be able to live in a nursing home because they are using Medicaid...
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...
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