It is hard enough for our Elder Law clients to make the decision to enter a loved one into long-term care – but add complex contracts, lack of legal understanding, and emotional unrest and it becomes easy for your client to become overwhelmed. What happens when the loved one doesn’t qualify for Medicaid, or cannot pay for services through other means? After the contracts are signed, and the loved one is tucked in to their new residence, who might be on the hook for financial expenses?
For most small business owners, working long hours is something that is too familiar. After putting in such long hours, one would reasonably expect to yield great monetary benefits; however, this isn’t always the case. Periods of cash shortages happen, as Business Law attorneys we see it all the time. It even happens to us. The true question that presents itself in these tough situations is “what do I do next?”
Only 32.3% of workers with a disability are in the workforce even though sixty to eighty percent of people would like to work. Employment rates among individuals with disabilities are suffering. Barriers are preventing individuals with a disability to gain employment and contribute to the workforce. Some employers are hesitant to take on the expense and legal implications of employing an individual with disabilities- many of these businesses are also unfamiliar with the financial resources available to them. Congressional efforts to re-incentivize the hiring and retaining of employees with disabilities have come to fruition.
When you spend most of your time working hard for your money its only natural that you want some control over what happens to your assets after you die. Even if you are a person with modest means, you have an estate and several strategies to choose form to ensure your assets are distributed according to your wishes and in a timely fashion: your estate plan. The right strategy for you depends on your individual circumstances. A living trust, for some people, can be a useful and practical tool. For others, it may be a waste of time and money. What is a living trust and how does it differ from a will?
An increase in life expectancy makes financial and retirement planning more challenging for everyone; no one more so than parents of a special-needs child, as a longer lifespan means increasing costs for both parents.
The lifetime cost to financially support someone on the autism spectrum is $1.4 million according to a Harvard study (2014). If that person has an added intellectual challenge, the number rises to $2.3 million.
Topics: Business Owners
According to National Institute on Aging, November is National Long-term Care Awareness Month and most long-term care is provided at home by friends and family. Taking care of a loved one can be tough at times but it is also a rewarding task.
As we age, we will tend to need a little more help with everyday tasks. Eventually some people will find themselves being cared for by a close friend or family member. For many elders, the transition from an authority figure to a more subordinate role is a difficult one. The shift in power can oftentimes be a big adjustment for all that are involved.
What will you do with your time, post-sale?
It is important to figure out what you are going to do after you’ve sold your business such as taking up a hobby, volunteering at an organization or traveling. You will need to give this some serious thought.
There will be time between when you decide you want to sell and the actual sale itself, so you will have about a year to contemplate what you are going to do in your next life.
Topics: Business Owners
Special needs trusts (SNTs) are financial instruments designed to enhance quality of life for individuals with disabilities by supplementing the government benefits available to them. Assets that held in SNTs are not counted when determining an individual’s eligibility for means tested public programs such as Medicaid and Supplemental Security Income (SSI). Since personal circumstances change, it sometimes makes sense to update an SNT. But how can you tell when it’s time to modify one?
Topics: special needs
Being able to pass along belongings to our children or loved ones is important to most people. Throughout our lives, we save and save to make life a little easier for the people we care about. The last thing anyone wants to do is to give a large portion of their hard-earned money to the government in the form of probate fee. Also, we don’t want our loved ones especially our spouses and children to wait months, even years to receive a dime.