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...
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...
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...
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...
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...
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...
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...
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...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Oct 11, 2017 | Care Planning
New York residents might not need long-term care when they are in their 50s. However, it’s best to plan for such things ahead of time. Those who do need care for an extended period may choose to pay for it themselves, use government benefits or let an insurance...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 22, 2017 | Care Planning
Two thirds of older Americans in New York and elsewhere have not put away funds for future care expenses. A survey by The Associated Press-NORC Center for Public Affairs Research, which polled 1,341 Americans, revealed this number. The fact that the majority of older...
