April 2015

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    Medicaid Asset Security Trusts 101 888011000 110888 MoneyTipsYou may have saved vigilantly for retirement and handled your money well, but in the end, long-lasting care expenses can derail your plans and quickly exhaust your savings and other assets. According to LongTermCare.gov, average costs for 2010 were $6,235 and $6,965 per month for semi-private and private spaces in assisted living home, respectively. For the number of years can you afford to pay in the $75,000-$85,000 variety for your care? A one-bedroom assisted living facility is a bit less expensive, at $3,293 monthly on average (2010 values), approaching $40,000 annually. Considered that long-term care averages 2.2 years for men and 3.7 years for females, the chances are that you have insufficient resources to meet your long-term care requirements. Medicaid Is an Option Long-lasting care insurance is an alternative, however it is expensive and has constraints. Fortunately, Medicaid exists to get the rest of long-lasting care costs– however to become qualified for Medicaid, you can only have a …

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    Dog-Owners’ Liability Insurance Coverage 101 888011000 110888 MoneyTipsCanines bring joy to the lives of their owners almost every day. Sometimes, though, some pet dogs will hurt another individual or damage the home of others. These scenarios can trigger significant monetary damage to those who do not have appropriate liability insurance that covers their animals. How to Secure Yourself Financially Insurance coverage can be acquired to limit your liability in the event that your canine causes damage to someone or their property. The very best location to begin looking is with the kinds of insurance you currently have. In fact, you may already be covered without understanding it. Take a look at Your Existing Insurance coverage Lots of property owners and renters insurance coverage either cover or can include the alternative, through a rider, to cover pet liability issues. Some insurance companies charge an extra cost for the coverage, while others include it in the base expense of the policy. Call your existing insurance coverage service provider to see if you are currently guaranteed or if you can add cove …

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    Nursing Houses and Retirement Houses 101 888011000 110888 MoneyTipsIt can be a sobering and unpleasant time when you understand that one of your relative requires some form of senior care. Your options can seem overwhelming and hard to understand. House care alternatives are readily available through house health care services, and reprieve care (adult day care) alternatives are readily available for part-time help if you are the existing caretaker. If these alternatives are wrong for your situation, consider these other types of long-lasting care that are located outside the home. Independent Living (IL)— IL communities are retirement homes for seniors who are still reasonably independent and have restricted medical concerns. Typically, these are private houses with group dining alternatives and community gatherings. Month-to-month costs differ by place however are often in between $1,500 and $3,500. Assisted Living (AL)— Elders in AL communities require some care and help with activities, however are still in …