Thursday, September 15, 2011
You may have missed this on NBC's nightly news. I am focused like a chicken on a June bug about this now and yesterday after I shared what I've learned about the Aid and Attendance pension, I heard from so many of you that are facing the same things we are with aging parents. This benefit is virtually unknown and has been around for a long time. My father-in-law served his country for 25 years, starting in the Army in WWII and retiring from the Air Force in the 1960's. After retiring he started another career and worked until his late 60's. Even then he had the desire to volunteer and after moving to Fayetteville, Arkansas his love for his country led him back to the military, to the local VA Hospital where he volunteered 17 more years. At 90, he now resides in the Fayetteville VA nursing home.
It seems like my life these days revolve around parents, the same way I felt when the kids were little and needed us. Sometimes I am very tired when I lay my head down at night. But I have to tell you, I'm learning some valuable information that might just help others who are going though this with parents. 25 years ago when Daddy was in failing health, my Mom struggled to care for him on her own. She found the strength somehow and they had the savings to meet his rising medical bills. That was then, when costs were merely high, not astronomical. Mom's dementia/Alzheimer care has depleted their savings and she is now a Medicaid patient. 6 years of nursing care, all the planning done years ago with a trust and 2 Elder care lawyers guided us through very rough waters.
I'd like to share another link today, to an Elder care lawyers' website. I don't know him, so it's not a recommendation, but his articles on planning are so straightforward and clear that it will help you guide your parents and give you the education that it's taken me years to learn. He explains long term health care insurance (who should buy it as well as who shouldn't), the pro's and con's of Revocable Income trusts and covers the Veterans Aid and Attendance pension in detail. Estate planning is not just for the wealthy; we plan everything else about our lives, but often are sorely unprepared when we reach our senior years. Read and learn at http://markalbertson.com/.