Naked in the Nursing Home: The Women's Guide to Paying for Long Term Care Without Going Broke

Overview

This is the no-nonsense guide that will give you everything you need to know about how to pay for long-term care for yourself, Mom or Dad—without going broke. Naked in the Nursing Home adroitly weaves together both humor and hard-hitting facts to equip you and your elderly parents for the future.
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Overview

This is the no-nonsense guide that will give you everything you need to know about how to pay for long-term care for yourself, Mom or Dad—without going broke. Naked in the Nursing Home adroitly weaves together both humor and hard-hitting facts to equip you and your elderly parents for the future.
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Product Details

  • ISBN-13: 9781933918648
  • Publisher: Blooming Twig Books LLC
  • Publication date: 4/1/2011
  • Pages: 193
  • Sales rank: 1,413,378
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.50 (d)

Meet the Author

Harold L. Lustig, CLU, ChFC, has been providing financial and estate planning, life insurance and investment advice for 31 years, He has specialized in working with seniors and their families for more than 10 years. He lives in Greenbrae, California, just north of the Golden Gate Bridge, with Clarinda Cole Lustig, his wife of 18 years, and their two cats, Pumpkin and Jewel. Harold has an MBA in finance and a Bachelor's degree in accounting from Drexel University in Philadelphia, and is a Chartered Financial Consultant and a Chartered Life Underwriter. He is the managing member of Lustig Financial Services, LLC, which is a Registered Investment Advisor with the State of California, and is the CEO and president of the California Estate and Elder Planning Center. He is also the author of 4 Steps to Financial Security for Lesbian and Gay Couples, which was published in 1999 by an imprint of Random House.
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Table of Contents

Foreword 7

Preface 9

Myths 10

Is This Guide for You? 11

Why Women? 13

Chapter 1 What Is Long-Term Care? 15

Who Pays? 22

Who Decides? 24

Avoiding a Family Crisis 31

Chapter 2 15 Medicaid Mistakes to Avoid 34

Chapter 3 Understanding Medicaid 39

What about Medicare? 41

The Rules 46

Medicaid Questions & Answers 55

Chapter 4 The Best-Kept Secret in Long-Term Care 64

A Special Monthly Pension for Wartime Veterans 64

Chapter 5 What About Insurance? Long-Term Care Insurance Choices 71

Traditional Long-Term Care Insurance 77

Tax Treatment of Long-Term Care Insurance 86

Partnership Long-Term Care Insurance 92

Combination Annuity and Long-Term Care Insurance 96

Combination Life Insurance and Long-Term Care Insurance 98

Frequently Asked Questions 100

Chapter 6 Planning Ahead: Three Families 103

Family One: Mary Uninsurable 104

Family Two: Lois and Clark 107

Family Three: Jenny Insurable 110

Chapter 7 Preventing Elder Financial Abuse 115

Tips to Help Prevent Undue Influence 121

Checklist: Preventing Elder Financial Abuse 123

Chapter 8 Summing Up and Getting Assistance 127

Appendices

Appendix A Average Annual Cost of Care in 2010 133

Appendix B Community Spouse Resource Allowance (CSRA) by State 2011 Costs 135

Appendix C MMMNA by State for 2011 136

Appendix D Monthly Nursing Home Cost Used for Calculating Penalty by State for 2011 137

Appendix E States with National Long-Term Care Partnership Program 138

Appendix F Little-Known Groups Qualifying for VA Benefits 139

Appendix G Caregiver Resources 141

Glossary 164

About Harold Lustig CLU, ChFC 181

Index 182

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