As our parents age, we often worry about their financial well-being. You might want to help your mother manage her money, but you're unsure how to do so without overstepping boundaries. Balancing respect for her independence with the need to protect her interests can...
Month: January 2025
How an immediate annuity can help with MassHealth planning
As we’ve discussed previously on this blog, the cost of nursing home and other long-term care can be exorbitant. If you don’t plan to effectively cover these costs, then your assets can quickly dissolve, leaving you with very little, if anything, to distribute to your...
Why start long-term care planning in your 30s and 40s?
In your 30s or 40s, you are likely juggling a career, a family and perhaps even care for aging parents. With all these responsibilities, long-term care planning for yourself might seem like a distant concern. However, it is during these years that the importance of...
The MassHealth lookback period and asset transfer
MassHealth can help people pay for their long-term care, but its financial eligibility requirements are strict. To qualify, an applicant must fall below a certain threshold in terms of assets and income. And to make this even more strict, MassHealth has a so-called...