There is a popular misperception among many seniors that in order to protect their assets from creditors, including the cost of nursing home care, they should consider gifting their assets to their children.
Its hard to plan for “old age.” None of us know in advance what challenges we will face. Of course, needing Assisted Living Care or Nursing Home care is a possibility we all must face. The average cost of Assisted Living in Texas is $4,300 a month and for Nursing care is $5,000 per month. […]
The value of long-term care insurance (LTCI) is an ongoing conundrum. There's no doubt we're living longer. According to LongTermCare.gov, a site provided by the U.S. Department of Health and Human Services, at least 70 percent of people 65 and older will need long-term care services and support at some time in their lives.
It can be frustrating and nerve-racking when you can't see a loved one face-to-face — a fact that so many family members with loved ones in assisted living or nursing home facilities are discovering during the coronavirus outbreak. To protect those who are most at risk of complications from the disease caused by the coronavirus, COVID-19, health officials have announced strict rules for some facilities with vulnerable older residents.
Americans everywhere are concerned about the coronavirus. However, COVID-19 has demonstrated that it’s particularly serious for older adults whose immune systems naturally weaken as they age — and especially for those with chronic medical conditions, according to Dr. Samir K. Sinha, a member of the American Red Cross Scientific Advisory Council.