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June, 2016


Summer arrived!  Maybe. Whether you head out of town, enjoy a stay vacation, or do day trips we hope everyone stays safe and enjoys the summer.
How to Finance Your Relaxed Retirement 
tag_says_relax.jpg Have you thought about your retirement and long-term care? Are you prepared for the unexpected? The Long-Term Care Financing Collaborative began meeting in 2012 to address the fact that too few people have the resources to pay for long-term care.  Currently, there are roughly 10-12 million adults who require long term supports and services ("LTSS").  That number is expected to double by 2030.  Long term supports and services are defined as "non-medical assistance" which includes help with such things as food preparation, personal hygiene, assistive devices and transportation, bathing, eating and the like.

Unfortunately, recent studies show that many Americans do not have the savings necessary to cover theses costs in addition to their medical costs as they age.  This scenario causes family members to miss work and time with their families to render upward of 37 billion hours of uncompensated LTSS to adults.  This costs employers between $17.1 and $33 billion dollars in productivity.

What should families be doing now to make sure you can enjoy the relaxed, comfortable, worry-free lifestyle you dream of in retirement?  First, you need to educate yourself as to your various investments and determine if they are right for you.  Second, you should find out how to leverage all the various strategies that can be utilized to cover these costs in retirement:  Social Security, Medicare, savings and investments, retirement accounts, reverse mortgages, long-term care insurance, VA Benefits and Medicaid, to name some of the major sources. And third, you will want to find out how to structure the ownership of your assets to protect them from the costs of long term care.  Most important you must act sooner rather than later so you have time to make the course corrections necessary to achieve your goals. We can help you plan for retirement, give us a call.
A well thought out estate plan can provide many benefits.  Here are just a few:
  • Provide support and financial stability to your spouse, children and grandchildren.
  • Preserve your wealth for later generations.
  • Make sure your wishes are carried out when you can no longer manage your affairs.
  • Support a favorite charity.
  • Distribute assets in a timely fashion.
  • Minimize taxes and expenses that go with transferring assets.
  • Provide enough cash to cover expenses and prevent the unnecessary sale of assets.
  • Avoid problems with your loved ones by ensuring beneficiaries on your life insurance and other assets are still who you want.
  • Protect your family's privacy.
  • Set and meet expectations of your survivors so there is no confusion or misunderstanding.
It is crucial to get your estate plan in place before something happens.  After an accident or an untimely death, there's no going back.
As social media platforms increase, the lines are being blurred on what is acceptable to post online. There have been instances in nursing homes where a patient's privacy has been violated. Nursing home attendants have posted embarrassing and degrading pictures of their patients on social media, namely Snapchat and Facebook. Unfortunately, many patients fail to report that this is happening because they have dementia or are otherwise unaware of the occurrences. If you suspect this is happening to a loved one, you should report it to the owners or management. If that doesn't bring action, you can contact either the Long-term Care Ombudsman or Adult Protection Services so your loved ones lives remain private and off the internet.

(From "Nursing Home Residents Privacy-Violations" by Rebecca C. Morgan)
More Services
We also offer assistance with long-term care insurance reviews, reverse mortgage advice and counseling, and pet and gun trusts
We encourage each of you to keep up to date with the latest legal news and issues by visiting our website. Additionally, don't hesitate to contact our office with questions or to schedule a consultation.

John Hugg & Staff
Hugg & Associates, PLLC

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Northshore Senior Center
July 25, 2016 1-2:30 pm
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Some Favorite Blogs & Sites
Want to keep up on news which relates to everyday life?  Check out our Flipboard magazine. 
There is a new government website Business Healthcare that offers employers information and educational materials on how the Affordable Care Act will affect their businesses.   Among other things, the site provides businesses with content on tax credits and other provisions in the law.   The site can help you learn how to provide affordable coverage options to your employees.
Protect the seniors in your family from scams and con artist! The FBI Scams page keeps you informed of the latest outrageous scams.

Keep up to date on the latest Washington news, including protecting seniors, from the Washington State Attorney General

Read articles from one of our favorite law blogs, Above the Law. Irreverent and timely, the blog will entertain and inform you.




American Association of Retired Persons (AARP) 


Department of Social and Health Services (DSHS)


National Association of Elder Law Attorneys


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