Life Insurance Archives - The Segrust Group

Medicaid Liens and Estate Recoveries

September 28, 2014March 19, 2021Cliff Cadle

What are Medicaid liens and estate recoveries? Federal law encourages states to seek reimbursement from Medicaid recipients for Medicaid payments made on their behalf. There are two types of cost-recovery actions against the assets of Medicaid recipients: (1) real or personal property liens, and (2) recovery from decedent’s estate. A Medicaid lien is a form of attachment against your property that signifies that someone else has certain rights or interests in your property. A lien makes it impossible for you to sell or refinance your property without the state’s knowledge and opportunity to collect. While federal law allows a lien to be placed on your home at the time you become a permanent resident of a nursing home, not all states have adopted such provisions. Along with the use of lifetime liens, your state may be able to seek reimbursement from your estate after you die. For Medicaid purposes, the...

Planning for Marriage: Financial Tips for Women

June 3, 2013June 3, 2013Cliff Cadle

Planning for marriage should involve more than just picking out invitations and deciding whether you should serve chicken or fish at the reception. More importantly, you’ll want to take a look at how marriage will impact your financial situation. And while there are a number of issues you’ll need to think about, careful planning can increase the likelihood that you’ll have financial success as you enter this new chapter in your life. Consider a prenuptial agreement If either you or your future spouse has or may inherit substantial assets, or if either of you has children from previous marriages, you may want to consider a prenuptial agreement. A prenuptial agreement is a binding contract between future spouses that defines the rights, duties, and obligations of the parties during marriage and in the event of legal separation, annulment, divorce, or death. A prenuptial agreement typically addresses the following areas: Assets...

The Retirement Income Gender Gap – Dealing with a Shortfall

December 8, 2012March 19, 2021Cliff Cadle

When you determine your retirement income needs, you make your projections based on the type of lifestyle you plan to have and the desired timing of your retirement. However, you may find that reality is not in sync with your projections, and it looks like your retirement income will be insufficient to meet your estimated expenses during retirement. This is called a projected income shortfall. There are many reasons why women, on average, are more likely than men to face a retirement income shortfall. Because women’s careers are often interrupted to care for children or elderly parents, they may spend less time in the workforce. When they’re working, women tend to earn less than men in similar jobs, and they’re more likely to work part-time. As a result, their retirement plan balances and Social Security benefits are often smaller. Compounding the problem is the fact that women often start saving...

A Woman’s Guide to Health Care in Retirement

December 1, 2012March 19, 2021Cliff Cadle

At any age, health care is a priority. But when you retire, you should probably focus more on health care than ever before. This is especially true for women. Women live longer, develop certain chronic conditions (e.g., osteoporosis) at a higher rate than men, and are more apt to experience medical limitations that directly affect their daily activities.1 That’s why it’s particularly important for women to factor in the cost of health care, including long-term care, as part of their retirement plan. How much you’ll spend on health care during retirement generally depends on a number of variables including when you retire, how long you live, your relative health, and the cost of medical care in your area. Another important factor to consider is the availability of Medicare. Generally, you’ll be eligible for Medicare when you reach age 65. But what if you retire at a younger age? You’ll...