Three Important Questions for Retirement Planning; Part One

You’ve seen “retirement calculators” time and time again on different websites leading you to believe that if you were to save a certain amount of money you would be able to retire comfortably. Unfortunately that’s not always the case. Planning your retirement is only as good as your answers to three questions:

• How long might you live? 
• How well (or not-so well) will your investments work out? 
• How much money will you require to live comfortably until you die?

Your life expectancy; Elder Law Attorney Cohen & Oalican

Retirement planning would be a lot easier if you knew how long you were going to live for. That’s obviously never the case. Fortunately, there is an insurance called an immediate annuity which allows you to never run out of assets, however long you live. Of course, just like anything that sounds too good to be true, there are setbacks, so talking to an elder law attorney would be a smart idea.

Your asset protection plan; Boston, Raynham, Andover Massachusetts

To stay on track with your asset protection plan you must always monitor your investments and adjust to market changes. You may have to save more and/or work longer than you originally thought when you first started thinking about your retirement plan. Attorneys Cohen & Oalican specialize in helping you protect your home and protect your spouse.

To be continued…

Medicaid Planning; New Free Medicare Checkup

We can't say this enough times: Medicaid planning is not an easy thing to do. Until January 1st, 2011, the only routine exam Medicare covered was the “Welcome Exam”. This exam is only for brand new beneficiaries. Now, a new annual wellness visit has been established under the Affordable Care Act. This free Medicare checkup was a big step in Medicaid Law, but can be very misleading.

How to get your free Medicare wellness checkup; Boston, Raynham, Andover Massachusetts

William Schmitz, a retired engineer from Maine, was upset when he found out Medicare Law had defeated him once again and denied his claim when he went for what-he-thought was a free physical. “When I asked the doctor’s office what had happened, they clued me in that I was mistaken about the difference between Medicare’s wellness exam and a physical”, William said.
In order to get this free check up, don’t just set up an appointment for a physical. Specifically ask for the free Medicare wellness visit, billing code G0438. Medicare does not cover the cost of a physical.

Medicare wellness visits and doctors; Elder Law Attorneys Cohen & Oalican

As always with Medicare planning: be cautious and double-check with your doctor. All doctors do not have to offer these Medicare wellness visits. Also, Medicare does not have the authority to tell a doctor what services to offer. If the beneficiary’s doctor will not perform this check up, the beneficiary has the right to go to another doctor. It is always good to choose a trustee to get the proper help you need with Medicaid planning.

Attorneys Cohen & Oalican specialize in Elder Law; where protecting your assets and your dignity is their core mission.

Your Retirement; Estate Planning and Medicaid Planning

Happy retirement ideas are a little different for everyone. For some, it might be relaxing and spending time with family. Others may want to travel the world while others might want to stay in their hometown and work a meaningful part-time job. Regardless of what your retirement plan is, proper estate planning and Medicaid Planning is a must.

Managing Assets; Elder Law Attorneys Cohen & Oalican

Medicaid imposes a period of ineligibility if you transfer assets before you enter a nursing home. This is very complicated and confusing to do without guidance from an elder law attorney. Properly transferring assets will help you protect your spouse and protect your home.

Choosing a Trustee; Estate Planning

A good estate plan will take care of you if and/or when you cannot take care of yourself anymore. If done properly, it will also take care of your family after you die. Family, good friends, banks or trust companies and attorneys are only a few of the routes you can go. There are no perfect choices, but try to choose somebody who is relatively experienced in investments and public health benefits programs and regulations. Elder law attorneys Cohen & Oalican can help with all your estate planning needs.

Attorneys Cohen and Oalican specialize in Elder Law; where protecting your assets and your dignity is their core mission.