Kansas/Missouri - Kansas City

REMARRYING SENIORS HAVE BIG ESTATE PLANNING DECISIONS TO MAKE9/5/2022 Second marriages are more common in the lives of seniors these days. Many seniors who remarry have enjoyed a life of love with a previous spouse whom passes away, and later discover love with someone new. Although they often feel like theyve lost the love of their life, remarrying as a senior can be exhilarating for these later years.Caught up among the excitement newfound love can bring are some of lifes most serious decisions, and evermore so for remarrying seniors. Many seniors choose not to plan when remarrying, causing unforeseen challenges for their loved ones. This also has the potential to break close relationships with others and cause infighting among other family members.Longer lifespans are accredited for the increasing numbers in remarrying seniors. And, as the years go on, this will probably have many marrying for the first time later in life, in increasingly blended ways. Questions about what to do with a lifetime of accumulated and still accumulating assets are ones that couples dont have to consider when they're young. However, these are decisions almost all seniors must make when remarrying. With 50% of seniors remarrying, these are questions elder law attorneys are starting to hear more and more, from existing and new clients. Meeting with an elder law attorney, can let you and your new spouse know what your options are.Prenuptial AgreementsThe biggest consideration for seniors remarrying is the prenuptial agreement. Whereas fictional stories in print and Hollywood often outline prenuptial worst-case scenarios and intentions, prenuptial agreements are the norm for seniors remarrying, and they often deliver the best protection for both spouses. Open communication is the most important factor when agreeing to a prenuptial agreement. Typically, each spouse has children or family whom they desire to maintain as beneficiaries on bank accounts, stocks and other assets. This may be important, so the first to pass away doesnt unknowingly and completely disinherit their children.For those with investments and real estate, trusts are important vehicles to keep finances where they are desired to be for seniors and their beneficiaries. If remarrying seniors pool their finances together, they can be even more vital to keeping everyones desires satisfied. Whether it comes down to a prenuptial agreement, a trust, or a combination of the two, it is most important both partners understand the full picture of their plans for one another and those they love.A Lifetime of AssetsPooling assets together and putting another name on a title can seem like intuitive decisions when remarrying. But these decisions often have better alternatives that can prevent the likelihood of disinheriting loved ones and hoping blended families can work it out after you pass away. Assets often have limitations with who and how many beneficiaries can be designated, and titling often has predetermined legalities that differ from state to state. Newlyweds should prepare for protecting their children and their spouse at the same time and, there is really no way of doing so without creating a trust.Taxes, Medicaid & Pension ConsiderationsConsequences of dying intestate or even with a will that assures going through probate and adds to the complexity of decisions to make when remarrying as a senior. Well, you can add taxes, Medicaid  and pension considerations to the list, because higher earnings levels may bump a couple up to a higher tax bracket, change Social Security benefits and even disqualify you from a pension and Medicaid. Elder law attorneys with financial planning experience are vital in understanding your full range of options surrounding these scenarios. This will ensure you are best prepared when the IRS wants to collect or another institution is ready to change their terms of service.TrustsTrusts give trustors (thats you and your spouse) the most flexibility and planning options. Amending wills, life insurance, investments and property can be cumbersome and evenly separating them out among beneficiaries is nearly impossible. Creating a trust allows benefactors the ability to distribute exactly how and when they desire. This is important to ensure a new spouse is well cared for even after the other passes.ConclusionThe sum of these relationships is different for everyone. Falling in love with someone new always impacts the others we love. These relationships may grow positively, or they may not. Remaining loyal to a new spouse might mean it is too difficult to maintain all the relationships we once had and enjoyed. While this is not necessarily estate planning legalese, its often a new reality after remarrying later in life. It is important to plan for these changes, and not to let them keep you from making the important estate planning decisions necessary when remarrying as a senior. Planning ahead can also keep you from making knee jerk decisions with your planning during emotional times. The benefits of finding love as a senior can bring an exuberance of excitement and joy into or lives. Dont let this decision result in unintended consequences for yourself and others. Make sure your most heartfelt desires are carried out for you and those you love for the rest of their lives.  If you want to ensure that you make the right decisions for your own family when considering life and estate planning decisions, feel free to sit down and talk with us for a free consultation by calling (913) 491-6332, visit our website berger-lawfirm.com or stop by our conveniently located office at 11233 Nall, Suite 140 Leawood, KS 66211 for more information. Berger Estate & Elder Law P.A. has been providing our clients with Trusted Counsel and Proactive Solutions for over 30 years, and we look forward to many more! 

Prime Healthcare Passionate about SeniorsAt St. Joseph Medical Center, weve made changes to provide specialized care tailored to seniors. As the first accredited geriatric ER in KC, we identify seniors that may need extra support during or after their hospitalization. Our inpatient Senior Behavioral Health Unit provides care for adults over 55 years of age experiencing acute behavioral symptoms associated with dementia and/or other mental health conditions.Paul Hura, MD, Senior Care Services Medical Director shares, "It is an honor and privilege to care for our seniors, and these philosophies remain very important to our physicians, nurses and entire healthcare teams at St. Joseph Medical Center.St. Marys Medical Center is a patient-centered community hospital in Blue Springs, Missouri providing comprehensive quality care with state-of-the-art treatment in a warm, caring environment.  With the only accredited Geriatric Emergency Department in Eastern Jackson County, Dr. Michael Liston, Cardiologist and Chief Medical Officer, understands this well.  We take caring for seniors to heart.  St. Marys holds numerous Grade A and 5-star ratings, while continuing to offer hometown touches such as walk-in 3D Mammograms.   As a community partner with local schools, chambers, and charitable organizations, St. Marys is Your Community Hospital.  StMarysKC.comIn Leavenworth, Saint John Hospital offers Senior Behavioral Health for inpatient care. During a patients stay, the unit uses a multi-sensory and multi-disciplinary approach to care. Our specialized staff supports patients and family member with comprehensive nursing care 24 hours a day.Many times, the slow loss of a loved ones sense of self and memory is confusing and difficult for the individual and their loved ones through some of the more difficult aspects of dementia, says Dr. Amand, Psychiatrist and Medical Director.Providence Medical Center is a community hospital located in Kansas City, Kansas. Committed to excellence and award-winning patient care, Providence received an A grade on the 2023-24 Lown Institute Hospitals Index for Social Responsibility. Providence achieved this honor through strong performance across metrics of health equity, patient outcomes, and value of care, out of more than 3,600 hospitals nationwide. Providence has received a five-star rating from The Centers for Medicare & Medicaid Services (CMS). The star award is given based on metrics such as mortality, readmission, patient safety and patient experience. Providence is also nationally recognized in multiple service lines, receiving 18 awards with eight Five-Star ratings, according to research released by Healthgrades.

Have you ever pondered what true security in your golden years looks like? Facing the reality of financing a senior living community can feel like navigating a labyrinth of costs and options. For many, the stress of ensuring affordable care while maintaining a high standard of living casts a shadow over their retirement plans.This article addresses the pressing concerns you may have about managing the costs associated with senior living. From leveraging personal assets to tapping into government assistance, we outline a clear and concise path to make senior living community affordability not just a hope but a reality.Read on as we guide you through the essential financial strategies that protect your future and peace of mind.Personal Savings and Retirement FundsPersonal savings and retirement funds are common sources for financing senior living. Many retirees use their 401(k), IRA, or other retirement accounts to cover the costs.The key is to manage these funds wisely to ensure they last. A financial advisor can help create a strategy that balances withdrawals with investment growth.For instance, retirees might choose to withdraw from their retirement accounts in a way that minimizes taxes. Spreading withdrawals over several years rather than taking a large lump sum can reduce the tax burden. It's also important to keep some funds liquid for unexpected expenses.A well-thought-out budget is crucial. Track your spending and adjust your lifestyle as necessary to ensure that your savings last as long as possible.Many financial planners recommend the 4% rule. This suggests that withdrawing 4% of your retirement savings each year can help ensure your funds last throughout your retirement. Long-Term Care InsuranceLong-term care insurance can be a valuable resource for covering senior living costs. This type of insurance helps pay for services that aren't covered by regular health insurance, Medicare, or Medicaid. It can cover assisted living, memory care, and other types of senior housing.Policies vary widely, so it's important to understand what is covered and what isn't. Some policies may cover only specific types of care or have limits on how much they will pay per day or per year.Benefits typically start when the policyholder needs help with at least two activities of daily living, such as bathing or dressing.While long-term care insurance can significantly reduce out-of-pocket expenses, it comes with premiums that can be high, especially for those who purchase policies later in life.However, getting insured early can lock in lower rates and provide peace of mind for future needs.Government Programs and BenefitsSeveral government programs are available to help with low-cost senior living. Medicaid, for instance, can cover long-term care for those with limited income and assets.Each state has its own eligibility criteria and benefits, so it's important to check local regulations.Veterans Benefits can also provide significant financial assistance. The Aid and Attendance benefit, for example, helps cover the costs of senior living for veterans and their spouses. This benefit can be used for various types of care, including assisted living and memory care. Reverse MortgagesA reverse mortgage allows homeowners aged 62 and older to convert part of their home equity into cash. This can be an effective way to finance senior living without having to sell the home.The money received from a reverse mortgage can be used for any purpose, including paying for senior living expenses.Reverse mortgages do have their downsides. They can be complex and often come with high fees and interest rates.The loan must be repaid when the homeowner sells the house, moves out permanently, or passes away. This could potentially leave less inheritance for heirs.Family Contributions and Private LoansFamily contributions can be a helpful way to manage senior living costs. Many families choose to pool resources to support their elderly relatives. This might involve direct financial contributions or sharing caregiving duties to reduce the need for paid services.Approaching family members for financial help can be sensitive. It's important to have open and honest conversations about the needs and expectations.Setting up a formal agreement can help avoid misunderstandings. This agreement should outline how much each person will contribute and how funds will be used.Private loans are another option. These can be arranged between family members or through financial institutions. A private loan can provide immediate funds for senior living expenses while spreading the repayment over time.Other Financial Assistance ProgramsIn addition to government programs, various non-profit organizations and community programs offer financial assistance for senior living. These programs can provide grants, low-interest loans, or other forms of support to help cover the costs.Organizations such as AARP and the National Council on Aging offer resources and guidance on finding and applying for financial assistance. Local community centers and senior services organizations can also be valuable resources.Researching and applying for these programs can be time-consuming but worthwhile. Many programs have specific eligibility criteria, so it's important to thoroughly understand the requirements before applying.Senior Housing OptionsExploring different cheap senior housing options can also help manage costs. Some communities offer sliding scale fees based on income to make them more affordable. Others may have programs to assist with costs for those who qualify.Affordable senior communities often provide a range of housing and care options to suit different needs and budgets. For those looking for budget-friendly senior living, it's essential to compare different communities and what they offer.Factors to consider include: Location Services provided Overall cost   Let's Talk Senior Living Community AffordabilityThis article has explored several viable options to ensure senior living community affordability, from utilizing long-term care insurance to accessing government aid. Understanding your financial avenues not only empowers you but also provides the peace of mind that quality care is within reach.At Addington Place of Lee's Summit, we're committed to providing not just care but a vibrant, engaging community life. Our affordable pricing models and tailored care options make us a preferred choice for many families.Why not see for yourself? Schedule a tour today and discover how we make senior living both accessible and enjoyable.  

Questions To Ask When On A Senior Living Community TourThe time has finally come. Your family is looking at senior living communities because your loved ones need assistance with daily activities. Even though you knew this day would come, its still hard.Finding a suitable senior living community is like finding a new homethere are plenty of options but you keep looking until you find the one that feels right.Here at Pivotal Health Care, we want to help simplify the process for you. Ask these questions during your tours to find the best fit for your family.Question #1: Whats the cost of living?No surprise hereits important to figure out how much each senior living community costs. This isnt a job interview where you dont want to come across as too eager and ask about compensation. This is an important question that needs answering.However, keep in mind that cost isnt everything. Remember, your loved ones are living here full-time. Make sure the cost balances out with amenities, safety, food, and other accommodations.Question #2: What amenities are available for residents?Knowing what youre paying for is good, so make sure you find out about all the amenities. Asking this question is especially helpful for seniors with physical limitations and disabilities. You want to make sure your loved one can enjoy their new home and everything that comes with it.When you ask about amenities, dont be afraid to ask about events. More and more communities are offering events, live music, delicious food trucks, and many other things. So, if a community has great gathering areas, a pool, or other community spaces, its not unreasonable to ask about events.Question #3: How does the community keep its residents safe?This one is a no-brainer. You need to find out how the senior living community is keeping its residents safe. Theres a burglary every 30 seconds in this country, and seniors can be at heightened risk because they often cant physically defend themselves.Although burglary trends are declining, you want to know if your loved one is protected. Asking about security systems, security guards, and gated communities is essential to making the right decision for your family.But safety isnt all about a burglary. Its also about what happens in case of emergencies. Like when the weather takes a turn for the worse and the power goes out. Its important to figure out how the senior living community takes care of its residents during these times of need.Ask the important questionsIts really easy to get overwhelmed in a senior living community. There are plenty of places to visit, and youre absorbing information like water out of a firehose. During your tours, take in as much information as possible and grab as many pamphlets as possible. Also, dont be afraid to ask questions and write the answers down.But most importantly, listen to your gut. Trust how you feel about a community.