» Life Transitions Planning

Deadlines for Medicare Coverage Choices

Open enrollment started on October 15, 2012 for 2013 enrollment. You have until December 7 to pick a Medicare Advantage plan (a private plan that provides medical and prescription-drug coverage) or a Medicare Part D prescription-drug plan for the com… Read More
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Reverse Mortgages Are Causing Some to Lose Their Homes

A reverse mortgage can be a great tool in the right circumstances, but if you aren’t careful you could end up losing your home. A recent front-page article in the New York Times lays out some of the problems homeowners are encountering with these m… Read More
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Social Security Benefits to Edge Up Only 1.7 Percent

The nation’s elderly and disabled Social Security recipients will receive a 1.7 percent increase in payments in 2013. This is expected to raise the average monthly payment for the typical retired worker by $21. The increase is less than half of las… Read More
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Time Share Sellers Beware

In these tough economic times, thousands of time-share owners are anxious to dump their beachfront albatrosses. But it can be tough. Indeed, last year, time-share sales dropped by 40 percent. Preying on this period of desperation, self-proclaimed “… Read More
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Michigan Legislature Likely to Take Up Health Care Exchange

After the June 28, 2012 Supreme Court decision to uphold the Affordable Care Act (ACA), the Michigan House is fairly likely to act on a bill to create a state health care exchange. In November, the Senate had passed Senate Bill 693 (Senator Jim Marle… Read More
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Ford & GM Pension Buyout Offers: What To Do?

Retirees and salaried employees at Ford and General Motors are being offered lump sum “buy outs” from their pension plans. This is a significant decision that has many implications (retirement, taxes, estate planning, etc.) and should be done aft… Read More
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Claiming a Parent As a Dependent

If you are caring for your mother or father, you may be able to claim your parent as a dependent on your income taxes. This would allow you to get an exemption ($3700 in 2011) for him or her. If you cannot claim your parent as a dependent but you hav… Read More
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Government Benefits That May Benefit A Senior In Need

Is there anything more on our minds these days than stretching our dollars? And no question, nothing sabotages your budget like an illness or other health problem, especially one that affects your ability to carry out your everyday obligations. But h… Read More
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House Votes to Repeal Long-Term Care (CLASS Act) Program

On February 1, 2012, the U.S. House repealed a long-term care insurance program created by the 2010 health-care law that the Obama administration decided was too costly to put in place. The 267-159 vote sends the bill to the Senate, where Democrats d… Read More
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Latest Long Term Care Cost Figures

The cost of long-term care continues its upward climb, according to the 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. Private room nursing home rates rose 4.4 percent to $87,235 a year or $239 a… Read More
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