John R. Vermillion & Associates, LLC

Retirement planning for couples who are part of the LGBT community is fraught with challenges that do not exist for traditional couples.

There is no doubt that you have heard a great deal of information bandied about regarding the Patient Protection and Affordable Care Act (PPACA) in the days since the U.S. Supreme Court upheld the law, in a 5-4 decision. All of the facts and figures can be confusing, especially since they all seem to conflict from day-to-day. So what kind of effect, if any, will the PPACA’s expansion of Medicaid have on private health insurance rates?

Adding to the increasing mountain of evidence which shows that remaining socially connected and interacting with others is key to maintaining your health as you get older researchers in California have recently revealed the results of a study which showed that seniors who feel lonely are at a significantly higher risk of dying than those who do not.

Wills and Living Wills are key parts of any good estate plan. However, though the two sound similar they serve very different purposes. A Living Will states your choices for the kind of medical care you want to receive if you become sick or injured and are unable to talk.

The Veterans Aid and Attendance program, also known as the AA pension benefit provides financial assistance to limited income veterans and their spouses who use in-home caregivers or who reside in a nursing home or assisted living facility. Anyone who qualifies for the program can receive $1,700 per month or more, depending on your circumstances.

If there is one area of modern life that seniors are often not so comfortable with, it is new technology. However, there are a range of new gadgets that have come onto the market recently that can help both seniors and their families, especially when the senior lives alone or does not have regular assistance. Here’s a brief list of some of the newer options that technology has wrought.

In 2008, the federal government launched a Medicaid audit program designed to curtail the estimated $60 billion a year that Medicaid loses to fraudulent claims and overpayments. Since its inception, the program has performed about 1,550 audits, resulting in the identification of about $20 million worth of Medicaid overpayments and fraud.

The idea of having to move into an assisted living community or nursing home environment is not appealing to a great many people. However, it’s estimated that about 43% of everyone age 65 and over will use a nursing home at some point in their lives. Paying for nursing home care is often very difficult, and these expenses are not covered under Medicare.

Medicaid, the joint state and federal health insurance program designed to provide health care to the poor, needy, disabled, and elderly, loses billions of dollars in losses every year. Soon, that number may soon increase when the Affordable Care Act expands Medicaid coverage to millions more Americans. Of the $400 billion spent on Medicaid last year, it’s estimated that about 8% of it was lost to fraud and abuse.

In a small majority of states, adult children of elderly parents may be required to pay for the parent's long-term care expenses if the parent is not able to. Thirty states have what are called filial responsibility laws. These laws require the children to pay for their parent's nursing home expenses. Though they have rarely been enforced, they apply if an elderly parent is considered indigent and the adult children are able to pay.

The lingering effects of the recent economic downturn are still being felt as states continue to struggle with their Medicaid budgets. A new study released in early May from the nonprofit Kaiser Foundation reports that the number of Americans seeking healthcare through the Medicaid program increased dramatically between 2007 and 2009.

Let's say you've gone through the trouble of writing your will, readying your powers of attorney, and have developed an estate plan that meets all of your needs. What happens if you suddenly need to move into a nursing home? Will your estate plan be able to protect you and your assets from the often extreme costs associated with extended care living?

Moving can be an incredibly stressful time. Even if you've planned well and the move goes without a hitch there are a lot of potential legal issues involved with your estate plan that you may need to address if you move to a new state. While moving within the same state usually doesn't require any significant changes to an estate plan, moving across state lines can sometimes be problematic.

Probate law is often one of the more misunderstood, and even feared, areas of the legal system. Not to worry. The probate process itself is based on some very simple ideas. Let’s take a look at how a case begins.

Whether you are a newly married couple, a couple with young children, or a blended family with children from a previous relationship it's important for you to begin your estate planning efforts immediately. While many people believe that estate plans are only for the elderly, parents with young children are in a much greater need to develop a plan because the children rely on you so much. Here are two key parts to your estate plan you need to address soon.

If you are previously married and have children, you'll want to pay special attention to your estate plan if you're planning on remarrying. In some situations you may leave your children less than you had intended because of your new spouse's rights to inherit at least some of your property.

When you create a pet trust, the trust becomes the owner of some of your property. Animals cannot own property, but if you can create a trust, the pet can benefit from the property the trust owns. After you die the trust will be responsible for caring for your pet. It will use the property it owns to pay for the pets medical care and living expenses.

When it comes to the big decisions about your estate plan, such as deciding how much of your estate to divide amongst your children your will is usually going to focus around the important items. However, if you want to distribute your personal property, your Will is often not the best way to do it.

Estate planning focuses on what you're going to leave behind after you die. If you're retired, how you spend your money now will significantly impact what options you have when deciding how to give your property away. It's important that if you're living off your retirement savings, or pension, that you don't fall victim to some common money pitfalls that can significantly deplete your estate.

After you die, your family will not be able to immediately receive your property until the probate process is completed. Depending on your estate and the nature of your case, this can take months and may even last several years if there are conflicts. If your family needs the property quickly, this lengthy process can cause a lot of stress.

As you embark on your estate planning journey, it's important to keep in mind that your career goals, estate planning desires and your dreams of retirement are all factors you need to carefully weigh.For many people who reached the retirement age and stop working, they often experience regrets that they are unable to correct.

The generation that grew up in the turbulent era of the 1960s brings with it radically different expectations and desires than their parents had as they go into retirement. Between 2011 and 2030, it's estimated that about 10,000 baby boomers per day will reach the age of 65.

A nurse in Australia recently wrote a book detailing her experiences in dealing with the dying and coming to understand what they regretted the most. Though it can be hard to contemplate such thoughts, we can all benefit by learning from those who have faced their own mortality and understanding what it is they regretted so we might be able to avoid such regrets when our own time comes.

1. Transferring to a Spouse: Married couples often own property as equal owners with a joint tenancy. Each owner in a joint tenancy may have the right of survivorship, which is the right to automatically inherit the ownership rights of his or her spouse upon that spouse's death.

If you die in Texas without leaving behind a valid last will and testament, all your property goes to owners that are pre-determined under Texas law. These laws, called intestate succession laws, give your property to those related to you. The only way to change these laws from applying to your estate is by creating a valid will and making your choices yourself.

In 2006, Texas enacted legislation that allowed residents to create pet trusts, specific types of trusts that allow you to leave property for the care of your pet. The trusts are an ideal way for any pet owner who wants to leave their pets safe and secure after they die. Let’s look at some common questions about Texas pet trusts.

Making decisions about the kind of medical care you want to receive when you get older or become too ill to communicate is important. In Texas, you have a wide range of methods available to ensure your medical wishes are followed.

The absolute most important part of disability is naming successor trustees and power of attorney agents.

Much of estate planning focuses on the reduction or elimination of taxes, with good reason. Consider the “hand of taxation «which represents all the taxes during your lifetime and at your death.

TThere are not too many people who like paperwork; and, funding a revocable living trust is a lot of paperwork. Yuck

Because a friend was recently hospitalized with a heart condition, Henry is thinking about his own financial power of attorney. Is it time to update?

Many clients ask whether they really need an estate plan. After all, they don’t have a cattle ranch, oil wells, or gobs of money.

Simple wills often provide that all assets will pass to the spouse; and, if the spouse is not then living, to all children, divided equally.

Many people assume that because they’re young, healthy, and single, they don’t need an estate plan. You may think that you need to have a family to protect or need to be battling an illness in order to take the time to plan. This is not the case. Now is the time to create an estate plan if you are age 18 or older. Take a look at the following information to learn more.

If you have a senior loved one who is in need of long term care, it’s important to choose a reliable and trustworthy caregiver.

Insurance planning is part of comprehensive estate planning. All your good efforts in planning may be for naught without proper insurance coverage.

Estate planning documents need to be stored safely, yet be available, when needed. Here are 6 easy to implement tips on storing your estate planning documents.

A power of attorney for health care is an extremely important estate planning document. With this tool, you’re able to have a plan in place so that you’re prepared for medical emergencies.

You need a health care power of attorney. So does your mom, dad, spouse, aunt, uncle, brother, sister, and child (age 18 or older.)

You will need a death certificate to deal with the decedent’s assets such as collecting life insurance, closing bank accounts, managing and distributing assets, and dealing with retirement assets.

If you've been putting off your estate planning, you are putting yourself and your family at risk. Without a plan, you will have no control over the future and you won't be protected during unexpected events.

Surprisingly, recent surveys indicate that only a small percentage of married couples in the United States have prenuptial agreements.