Estate Planning for Young Families: 7 Important Steps to Take

Beginning a family is an exciting time full of memories and milestones. No one wants to consider bad situations while marriages are new and the kids are young. But, unfortunately, sometimes tragedy hits and families are left to pick up the pieces. Planning for the worst is a way for parents to show they care about their family and will continue to do so even if something happens to them. Estate planning for young families is extremely important to ensure a safe and secure future for children and other dependents. While it may appear to be a confusing process, there are…

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Medicare’s Stealth Price Hike: Seniors Are Paying More for Generics Even Though the Drug Prices Haven’t Increased

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The prices of generic drugs haven’t risen since 2011—in fact, in many cases they have fallen—but out-of-pocket costs for those drugs for seniors on Medicare have nearly doubled. Read more For more info click HERE David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.

Long Waits Under VA’s Private Health Program

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A program being expanded by the Trump administration to give veterans greater access to private doctors has failed to provide care within 30 days as promised due to faulty data and poor record-keeping that could take years to remedy, according to a government investigation released Monday. For more info click HERE David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.

Trustees’ Report Says Medicare’s Financial Outlook Is Worsening

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Medicare’s financial condition has taken a turn for the worse following higher-than-expected hospital spending and reduced payroll taxes that fund the program, the federal government reported Tuesday.   For more info click HERE David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.

Trump Drug Plan Won’t Significantly Reduce Costs for Seniors’ Medicare Drugs

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The Trump Administration is heavily promoting what it calls its “Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs.” But will the plan reduce out-of-pocket costs for Medicare beneficiaries? For more info click HERE   David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.

Tax Law Led to Increase in Pension-Plan Contributions in 2017

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Companies substantially increased their contributions to defined-benefit pension plans in 2017, likely because of the new tax law that President Trump signed in December, according to a new paper from researchers at the University of Wisconsin-Madison. The tax law cuts the corporate tax rate from 35 to 21 percent, starting in 2018. The rate reduction provided an incentive for corporations to boost their deductions in 2017 — including the deduction for pension contributions — so that they can take those deductions at the higher rate.   For more info click HERE   David Wingate is an elder law attorney at…

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Seniors Slow to Embrace Online Access to Doctors

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Many doctors have internet portals to help patients manage their care. But that doesn’t mean older folks will use them. A University of Michigan poll found only about half of patients 50 to 80 years old have set up an online account with their health care provider. “The health care system has provided patient portals as an efficient way for patients to communicate with their providers. But many older adults are uncomfortable with electronic interactions substituting for a phone call or in-person conversation,” co-associate poll director Sarah Clark said in a university news release. For more info click HERE  …

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What Can an Elder Law Attorney Do For Me?

Elder law attorneys serve as advocates for elderly or disabled clients and their families, providing counsel on a wide range of topics including health care, guardianship, and estate planning. Though it may seem that elder law attorneys are meant to handle extreme or unusual cases, everyone can benefit from the services of an elder law attorney. Here are four things an elder law attorney can do for you: Estate Planning Making sure your affairs are in order is essential, and having an experienced elder law attorney to guide you through the process makes everything easier. Because there are strict guidelines…

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10,000 Baby Boomers Turn Age 65 Each Day!

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  Unexpected illness and the unpredictable cost of healthcare are two of Baby Boomers’ biggest concerns! A recent survey showed boomers are 3 times more concerned about the following, than they are about dying (17%): Their ability to pay for healthcare (53%) Having a major illness (48%) Winding up in a nursing home (48%)     “The New Retirement Survey”, 2008. Conducted by Merrill Lynch by Harris Interactive in collaboration with gerontologist and author Ken Dychtwald, Ph.D   David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients…

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MAJOR MEDICAID MISTAKES

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As our aging population continues to grow, more and more families will face the need for long-term care for their loved ones. If that care is received in a nursing home, these families will face costs of $10,000 – $15,000 per month (and that number increases each year). Since Medicare does not cover the cost of skilled nursing home care (except for limited rehab stays), most residents must pay the full cost of skilled nursing home care. At $10,000 – $15,000 per month, the average family will exhaust their life savings within the first year of nursing home care. Most nursing home residents will eventually end up…

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