Blended families are when people get remarried, but have children from a previous marriage. This can be a little trickier for estate planning, but nonetheless, very possible! This has become an increasingly common arrangement.The biggest concern is ensuring assets are divided accordingly. In the event a Will is left solely to your new spouse, will your children be a factor in the surviving spouses own estate planning documents or beneficiaries of accounts you left for your surviving spouse? Do not worry, there are systems in place for this occurrence.One way to ensure your children will still receive an inheritance from you is a trust. A Trust is established to hold your assets and will state how you want the assets to be distributed. An example, your spouse can receive some assets outright, and an income from other assets. Then when your spouse passes away, your children will receive the assets that your spouse was just receiving income. Just be sure to voice your concerns to your attorney to ensure that your wishes are honored even after your death.Another example: if you have your new spouse as a beneficiary on your retirement accounts, such as an IRA or 401K. You may have your children listed as your contingent beneficiaries. If you are survived by your spouse, the spouse will now own that retirement account. The contingent beneficiaries are no longer a part of the plan. Your spouse needs to update the beneficiaries, and may not include your children as the primary beneficiaries to the account. Again, these are issues to discuss with your attorney and prepare a plan that will give your spouse the income from the retirement account, but the remainder to your children upon the death of your spouse.While blended families can seem more complex, it is very important to plan ahead. Even if families are all getting along now, unfortunately, relationships can change after someone passes away. Your new spouse also will have similar concerns to make sure his or her children, or other family members are not forgotten. Just be sure to sit down with your new spouse and any family members you wish to involve and discuss your wishes in the event of your passing. At the end of the day these decisions are yours to make, whether that coincides with the wishes of all parties involved, or not. Contact us to get started with your estate plan.

Will Long-Term Care Insurance Cover Assisted Living?March 24, 2023Will long-term care insurance cover assisted living? Yes. A good long-term care policy will help pay for assisted living and include coverages in other settings. But the real question is whether or not you currently have a long-term care policy.Most seniors do not. And by the time you need one, you might not qualify due to age or pre-existing conditions.More than 70% of American seniors over 65 will likely need long-term care at some point. But only 10% of Americans have any long-term care coverage.Without long-term care insurance, you or your family will most likely pay for your long-term care costs from savings, retirement accounts, equity loans against your house, or other private sources.And depending on if you decide to age in place at home or choose an assisted living community, these costs are challenging for most families. Using Sarasota, Florida as an example, according to Genworth Financial, the 2023 monthly costs average about $6,700 for Home Health services, $4,570 for assisted living, and $10,500 for a semi-private room at a nursing home.What is Long-Term Care Insurance?Long-term care insurance provides many services not covered by regular health insurance. Every policy is different and has specific coverage. But most long-term care policies include assistance with routine daily activities, like dressing, bathing, or getting in and out of bed.Where Does Long-Term Care Apply?Long-term care insurance helps seniors pay for the services and support they need as they age. And long-term care is for more than just assisted living communities. These policies often cover long-term care provided at:Your homeAn assisted living residenceA nursing homeAn adult day care centerWhat Is Covered Under Long-Term Care Insurance?Long-term care policies help with areas often ignored by other health insurance policies. A long-term care policy can help cover the costs of chronic medical conditions, a disability, or a condition like Alzheimer's. This includes:Assistance with your activities of daily living (ADLs)Certain homemaker services that are in conjunction with personal careSkilled nursing carePhysical, speech, and rehabilitation therapyRespite CareWhat Is Not Covered Under Long-Term Care Insurance?Like most insurance policies, long-term care policies have limitations and exclusions. It is essential to read and understand the policy to know what is covered and what is not.Many long-term care policies do not cover:Pre-existing conditions for a certain period of time. Understanding this clause is crucial. A pre-existing condition is typically defined as receiving medical advice or treatment or having symptoms within a certain period before applying for the policy. Some companies look further back than others, and some do not have restrictions for pre-existing conditions at all.Self-Inflicted InjuriesCertain nervous disorders or mental conditionsDrug and alcohol abuseWhy buy long-term care insurance?The reason to buy long-term care insurance is the same reason you purchase other insurance, like car, home, and health insurance: peace of mind. You pay a little each year or month, so you don't have to worry about paying a large amount of money should the unexpected happen.But long-term care is different, because needing it is expected and a normal part of aging in the US. More than 70% of the population will need long-term care help not covered by regular health insurance.Suppose you are fortunate enough to be wealthy and can easily cover all long-term care expenses out of pocket. In that case, long-term care insurance may not be for you. But for most Americans, long-term care insurance can be a valuable part of their financial planning.Do Medicare and Medicaid Cover Long-Term Care?Long-term care insurance policies are specifically designed to help with most long-term care costs.  Medicare does not pay for long-term care. Medicaid is a state-run program designed for those whose assets and income are under the states low threshold. Even then, the program is complex, the benefits are limited and minimal, and the waitlist can take years. Medicare Does Not Pay for Long-Term CareMedicare is of little help with long-term care costs. The Medicare website is pretty blunt about this subject, stating, "Medicare and most health insurance, including Medicare Supplement Insurance (Medigap), don't pay for long-term care." The site goes on to explain it is important to plan for long-term care to maintain your independence and get the care you need in the future.Medicare does pay for limited stays in rehabilitation facilities, like in-patient physical therapy for a hip replacement. But, the limit is 100 days. And suppose after that you must move to assisted living or a nursing home. In that case, Medicare does not cover your custodial costs.Medicaid Is Very Limited and Can Take YearsFor seniors over 65, Florida Medicaid is a minimal program. You must require nursing-facility-level care, and your assets must be below Florida's low threshold. The program was designed to help the frail and neediest first, and you can be on the waitlist for years. Medicaid recipients typically have a low income and have exhausted most of their savings. Because of the complexity, uncertainty, and length of time required to access any benefits, expecting Medicaid to help with long-term care needs may not be the best option.When Should You Buy Long-Term Care Insurance?The time to buy long-term insurance is before you need it. And the premiums are less when you are younger. Typically, most long-term care insurance buyers are between 50 and 65. It is becoming challenging to buy long-term care coverage over 70 due to health conditions, insurance company policies, expensive premiums, and pre-existing conditions.And even if you are age-qualified, the insurance company might reject your application if any of the following are true:You currently need help with daily activities (ADLs).You are already receiving long-term care.You have been diagnosed with dementia or another cognitive impairment.You have a progressing neurological condition like Parkinson's or ALS.You have had a stroke.You have specific cancer diagnoses. However, a diagnosis of cancer does not automatically get you declined. It depends on the type of cancer, how long ago you were diagnosed, and the individual insurance companies' underwriting guidelines.The best advice is to buy long-term care insurance before you need it and while you are younger and healthy.Summary: Should You Get Long-Term Care Insurance?Everyone ages and almost everyone will need help with senior care expenses, whether they age in place at home or choose an assisted living community.But paying for that care can be overwhelming and severely impact a family's budget and savings. Many families are forced into difficult financial challenges with an additional and unexpected $5,000 to $10,000 monthly expense for care.Long-term care insurance can help you plan for the future and give you and your family peace of mind.Whether your senior loved one is deciding to age at home or considering an assisted living community, Florida Senior Consulting can help.And if they don't have long-term care insurance, we can help you navigate all the other options.We are a Florida-based company with expert knowledge of the Florida senior market. While senior options can seem confusing, this is all we do. Florida Senior Consulting helps seniors decide their next best steps and the easiest way to afford the transition.We have certified staff, licensed nurse advocates, and decades of experience in the field.Senior living should be on your terms, and the choice should always be yours.Call us, and we will answer all your questions and help you decide what is best for you or your senior loved one.For peace of mind, call us at (800) 969-7176 or visit FloridaSeniorConsulting.com.

One of the most alarming conditions a senior can develop is paranoia, a mental state characterized by persistent fears, worries, and accusations that often strike loved ones as irrational or even ridiculous. As a caregiver, you may feel at a loss about how you can help. The first step is to understand the causes of paranoia in the elderly and what symptoms to watch for. Then, youll be better equipped to navigate the situation and provide the best treatment for your loved one.What Causes Paranoia in the Elderly?Paranoia and extreme anxiety in seniors can often be traced to an underlying medical problem. Its important to uncover this cause so you can find the proper treatment. Here are some potential health issues that could be to blame for your loved ones developing paranoia:Alzheimers disease and dementiaBrain tumorsStroke, head injuries, or reduced oxygen to the brain causing vascular damagePsychiatric conditions, such as schizophrenia, bipolar disorder, or depressionDehydration- or drug-induced delirium and cognitive impairmentUntreated urinary tract infectionsSide effects from certain medicationsSymptoms of Paranoia in the ElderlyDont let slight behavioral changes go unnoticed, as they could become more frequent and severe if left unaddressed. Here are the signs of paranoia to watch for in your elderly loved one:Showing extreme agitation, hypervigilance, or stress without explanationExpressing feelings of unfair persecutionBeing easily offended or not handling criticism wellAssigning harmful meanings to others words or actionsHaving difficulty trusting othersIts important to note that if a seniors living situation makes them feel socially isolated, uncomfortable, or depressed, it may intensify the symptoms listed above.Tips for CaregiversCaring for a loved one with paranoia can be challenging, to say the least. Distressing behaviors and accusations from an elderly loved one may alienate or frighten family members and friends. As a result, the increased demands of caring for a paranoid older person may become exhausting if not approached the right away. Here are some tips to help caregivers navigate this difficult situation:Assess the seniors living environment: If your loved one starts showing symptoms of paranoia shortly after moving to an assisted living facility or nursing home, this could be a sign that theyre not comfortable in this new environment. It may be best to make different arrangements to improve your loved ones mental health and quality of life.Patiently explain the situation: A senior may accuse their neighbor of stealing the mail. Instead of being dismissive, investigate these concerns and provide a reasonable explanation: Mr. Jones isnt stealing your mail, Dad. Remember, letters arent delivered on Sundays.Let the senior feel heard and loved: Sometimes, the answer for a stressful situation isnt to explain the paranoia away. Try to respond with love and understanding to a difficult situation of paranoia.Keep a record: Daily journaling can help you objectively look for signs of improvement or regression in your elderly loved one. Consider any potential causes that could be triggering the behavior, and show doctors your notes when they perform medical exams.Reach out for help: Ask your family members for support, connect with other caregivers for advice, or hire a professional caregiving service to provide respite care when you need a break.How to Treat Paranoia in the ElderlyYoull find it encouraging to learn that many seniors respond well to treatment. Here are some examples of how isolating the cause of elderly paranoia can help you find an effective treatment:Problem: A senior thinks her family members are talking about her behind her back.Solution: A physician can check the seniors hearing aid and may find that auditory feedback is to blame for her hearing things.Problem: A senior is paranoid about her finances. She accuses her caregiver of stealing her wallet when in reality, she simply misplaced it.Solution: The family can hire a financial advisor to work with the senior and lay out the facts.Problem: A senior is convinced his family doesnt love him anymore because they dont visit as often as he thinks they should.Solution: Family members can make an effort to call and visit more, calmly explaining the reality of the situation if accusations arise.Problem: A senior begins showing signs of confusion and paranoia shortly after a hospital stay involving a catheter.Solution: A doctor can perform blood work and may discover a urinary tract infection, which causes confusion and delirium in some seniors.If your loved ones paranoia is causing distress and exhaustion among your family members, hiring an in-home caregiver could provide the support you need. The qualified, compassionate professionals at BrightStar Care offer peace of mind during this challenging time of changing behaviors in your loved one. We understand the difficulties you face and are committed to going above and beyond to provide the highest-quality care available.Call us today for help at 952-300-3698 or visit us at https://www.brightstarcare.com/locations/south-minneapolis-metro/