Setting up a Trust Fund for your Children
Creating Trust funds can be overwhelming and there are quite a few things to take into consideration. When it comes to leaving large sums of money or assets to your children there are some general tips and advice to follow before setting up a plan.
Here are 7 Tips for Setting up a Trust Fund for your Children by Christine Fletcher:
- Assets of minor should be held in Trust-While children are under he age of 18 you do not want them inheriting money without a guardian. It’s important to find someone that[…]
Dogs help with Dementia
People who suffer with Dementia or Alzheimer’s have a harder time with everyday activities. It can be dangerous over time and without supervision it can put someone in a harmful situation. Usually people have to go to a Memory Care or Assisted Living Facility that has caregivers who watch over them. Having a service dog can offer assistance for someone who is living at home or even living in an assisted living facility. 
Research over the years has showed us that pets are good not only for everyone but even more so for[…]
California Encourages Long Term Care Preparation with Partnership Policies
Planning for long term care isn’t as simple as setting money aside and being done with it, especially in states where care costs more than the national average. California is one of those states and residents can benefit significantly from taking the time to prepare for long term care costs in advance. The California Partnership for Long-Term Care provides a way to help Californians plan for the expenses associated with long term care without breaking the bank.
Long Term Care Expenses
The California Medi-Cal system currently pays for the majority of long term care facility expenses throughout the state. With the “Silver[…]
Connecticut House Passes Bill to Address Long Term Care Insurance Rate Hikes
The Connecticut House of Representatives recently passed a bill that is designed to mitigate the financial burden of Long Term Care Insurance rate increases on consumers.
Spreading Out the Cost
S.B. 199 would require insurers filing for a rate increase of 20% or more on any Long Term Care Insurance policy to spread the monetary increase out over a period of three years or more. The bill also requires insurers to provide policyholders with advanced notice of a premium rate increase before the increase is implemented, in addition to offering an option for policyholders to reduce their benefits and keep their[…]
Connecticut Rejects Unum’s Request for Long Term Care Insurance Rate Increases
The Connecticut Insurance Department has rejected a unit of Unum’s application for rate increases on certain Long Term Care Insurance policies throughout the state.
Application for Increase
UNUM Life Insurance Company of America, a unit of Unum Group Corporation, applied for a rate increase averaging 45% on their group policies in effect in Connecticut. Their original request cited the need to ensure “policies remain priced at an appropriate level to meet our future claims obligations.” Those group policies are no longer for sale, as the unit left the group Long Term Care Insurance market in 2012, but 2,217 Connecticut residents still have[…]
Utah Legislature Passes Bill to Create Long Term Care Insurance Partnership Program
The state of Utah is posed to pass a bill that helps incentivize the purchase of Long Term Care Insurance and prepare state residents for the risk of long term care.
Senate Bill
S.B. 14 was sponsored by Senator Todd Weiler (R- Woods Cross) and introduced in the Senate on January 27th. The bill authorizes the Department of Health to set up a Long Term Care Partnership Plan for the state of Utah. It passed in the Senate on February 10th and in the House on February 26th. S.B. 14 is now awaiting the signature of Utah Governor Gary Herbert.
The bill isn’t[…]
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