Appealing a Medicare coverage denial is easy, and you have a good chance of winning, so it is worth your while to challenge it.
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Once you have written a new will, in most cases you should destroy your old will, but not always.
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Many divorced or widowed seniors receive Social Security from their former spouses, and remarriage can affect benefits.
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Medicare's coverage of nursing home care is quite limited.
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For Medicaid applicants who are married, only income in the applicant's name is counted in determining eligibility. The spouse's income is not counted.
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If you get help from Medicaid to pay for nursing home care, the state may file a claim against your house after you die.
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Most people can't afford to buy a gold-plated long-term care insurance policy that covers any possible need for any number of years. So, what should you cut, the daily benefit amount or the number of years of coverage? Most experts advise cutting the length of coverage.
While everyone should execute a durable power of attorney to give a trusted person the ability to step in to handle legal and financial issues in the event of your incapacity, banks and other financial institutions don't always accept them. Often these companies have their own power of attorney forms. You can prevent difficulty for your appointed agent in the future by asking all financial institutions where you have deposits whether they have their own form and, if they do, executing them as well as a general durable power of attorney.
Make sure you have your life insurance policies reviewed by a qualified professional every few years. With changing demographics, you may be paying higher premiums or receiving lower benefits than are now available in the market.