Our Blog
Welcome to the blog of R. F. Meyer & Associates, where we share company news and informative articles related to our Elder Law, Probate and Estate Planning legal practice.
IRS Issues Longterm Care Premium Deductions for 2020
The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying longterm care insurance. Premiums for "qualified" longterm care insurance policies (see explanation below) are tax deductible to the extent...
Medicare Premiums to Increase By Almost $10 a Month in 2020
After small or no increases the past couple of years, Medicare’s Part B premium will rise sharply in 2020. The basic monthly premium will increase $9.10, from $135.50 a month to $144.60. The Centers for Medicare and Medicaid Services (CMS) announced the premium...
Tips for Preventing Financial Abuse of the Elderly
Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money. It is hard to ascertain the exact numbers of people affected by elder abuse because studies show that...
What to Do If You Are Appointed Guardian of an Older Adult
Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one's well-being and you have a duty to act in his or her best interest. If an adult becomes mentally incapacitated and is incapable of making...
2020 Social Security Increase Will Be Smaller than 2019’s
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year's change. The small rise has advocates questioning whether the government is using the proper method to calculate the cost of living for older...
Medicaid’s Power to Recoup Benefits Paid: Estate Recovery and Liens
Federal law requires the state to attempt to recoup benefits paid for long-term care from a Medicaid recipient's estate after the recipient's death. If steps aren't taken to protect the Medicaid recipient's house, it may need to be sold to settle the claim. For...
Don’t Let Medicare Open Enrollment Go By Without Reassessing Your Options
Medicare's Open Enrollment Period, during which you can freely enroll in or switch plans, runs from Oct. 15 to Dec. 7. Don't let this period slip by without shopping around to see whether your current choices are the best ones for you. During this period you may...
What to Look for When Buying an Annuity
An annuity can be a useful tool for long-term care planning, but annuities are also complex financial products that are hard to understand. If purchasing an annuity, you need to consider your options carefully. An annuity is a contract with an insurance company under...
Most Are Taking Social Security at the Wrong Time
A new report finds that almost all retirees are deciding to take Social Security at the wrong time, and are losing out on more than $100,000 per household in the process. The average Social Security recipient would receive 9 percent more income in retirement if they...