Here’s some good news: people are living much longer these days! So much so that there’s a new field in estate planning. It’s called Life Care Planning. This type of planning doesn’t focus solely on a “death plan.” Instead, it focuses on using strategies to make the last decade of life a little easier and […]
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The outrageous cost of care is one of the biggest risks to those getting older. This question looms large in the mind of many who are of retirement age… How will I (we) pay for care costs? And many clients ask us… Should we buy long-term care insurance? There is a lot of confusion and fear around […]
Preserving independence and control as one ages is a major goal of many people we talk to on a regular basis. And with seniors who have a strong desire to preserve independence, come families with big concerns about safety. Is it possible for their aging loved one to remain independent AND safe? Click on the video below to hear Elder […]
Signing up for Medicare can be fairly straightforward, but for many people it gets complicated. Or seems that way at first. You may only need certain parts of the program, you may want extra coverage, or you may want to forego certain coverage. Though this might seem overwhelming, learning a few basics about Medicare will help you feel comfortable and confident as you start making decisions.
Join us for our for our free workshop How To Sign Up for Medicare: Make Wise Choices and Reduce Your Stress. We’d love to help you understand your options and get enrolled in the best plan for you. You’ll learn the answers to these questions and more:
- Do I need Medicare at 65?
- How do I sign up for Medicare?
- What does Medicare cover?
- What is the difference between a Medicare Supplement vs. a Medicare Advantage plan?
- Will prescription drugs be covered?
Here's what people had to say about previous Medicare workshops with our Benefits Specialist, Beth Monnat:
"I wish I had attended a workshop like this before I signed up for Medicare."
"This workshop was spot on with everything I've experienced [with Medicare]."
We offer the following locations, dates, and times for our free workshop:
Decatur Office 2905 N. Main, Suite C, Decatur, Illinois 62526
May 2, 2019 | 10:00 - 11:30 a.m.
We’d love to see you there! Give us a call at 217-726-9200 to RSVP.
There's a real problem facing Americans over the age of 65 -- the cost of nursing home care. It's expensive and often unavoidable. A lucky few have enough income to cover the $80,000 per year cost. But how does the average person afford it?
Unfortunately, many "spend down" their property and savings so they can qualify for benefits. But...
There is another way.
You may have heard of an irrevocable trust, or what we call a nest egg trust. This common tool helps many families who want to protect assets and plan ahead for future aging and care costs.
Aren't Trusts Just for Wealthy People?
It's a common misconception that trusts are only for the wealthy. However, a nest egg trust is designed for regular, hardworking folks who have saved a bit for retirement. Many families who want to protect assets and plan ahead for future aging and care are deciding that a nest egg trust is the right tool for them.
So, What's a Nest Egg Trust?
A nest egg trust is an irrevocable trust that protects your hard-earned savings and also helps you qualify for care benefits if you need some form of long-term care. There are many different types of trusts, and each depends on a person's goals and situation. But the bottom line is they protect your property and savings so you can get the care you deserve without losing your entire financial legacy. You can read more about trusts and how they work here.
Isn't That Too Good to Be True?
You qualify for Medicaid benefits AND you get to keep your hard-earned savings and assets? Yes, you do, but the nest egg trust involves a trade-off. To protect your assets, you must give up some control of them. What does this mean? It means any assets you put into the trust have some restrictions, so you can't spend them any way you want anytime you want.
Of course, no one wants to give up control of their assets, but many families find that it is well worth the trade-off to protect their financial legacy (and save things like the family farm). They even find that the control they give up is much less than they expected.
How Do I Set Up a Trust -- Isn't It Complicated?
If you were to do it on your own, yes, it would be complicated. But with the help of an experienced and trusted elder law attorney, it's not that complicated. And it's well worth your effort. Properly planning for your future is one of the greatest gifts you can give your loved ones (and yourself!). Knowing your financial legacy is safe gives you a priceless amount of peace of mind.
How Can Edwards Group Help?
In addition to setting up a trust, we will help guide you through making decisions around the trust. We have more than a decade of experience in creating this type of trust for people -- we know the problems to anticipate and address; we know how to make the decision-making process a bit easier; and we know the right questions to ask to make sure YOUR trust works for YOU and your unique family and circumstances. If you think a nest egg trust might be right for you, we encourage you to give us a call at 217-726-9200. We will be happy to review your situation with you and counsel you as to whether a nest egg trust is best for your circumstances and the goals you want to achieve.
To learn more on your own about nest egg trusts, download this FREE resource -- Nest Egg Trusts: A Good Tool to Protect Property and Savings.
You may be a couple decades away from needing nursing home care, but the sooner you can understand and plan for the costs involved, the better. Here are three truths every senior should know about nursing homes: 1. You’ll probably need nursing home care. The likelihood you’ll need to pay for this type of […]
There are two types of power of attorney documents that you can use depending on what you might need done: A healthcare power of attorney is able to help arrange your medical care or make healthcare decisions for you when you are unable to do so yourself. As long as you are able to talk to the […]
Are you unsure of how to use Medicare for your healthcare needs? Or are you afraid to use it because you’re not sure what Medicare will cover? Our Benefits Specialist, Beth Monnat, has worked with thousands of people over her career, and she hears from many who just don’t know how to best take advantage of […]
Creating online legal documents is becoming more and more common. Despite the convenience of creating a Will without the expense and hassle of meeting with an attorney, there are many pitfalls to creating a simple plan online or even with a more traditional attorney who is just “filling in the blanks” of an already created document. […]
When you or a loved one are dealing with a lot of medical issues, or even “just one” complex issue, the paperwork can become overwhelming. Over the years, Edwards Group has evolved into a comprehensive, interdisciplinary resource for families facing the challenges of aging. Elder Care Advisor Sandy Eisenmann recently discussed with me what people […]