Author Archives: Andre O. McDonald
3 Tips for Caring for a Sibling with Special Needs
When a family has a child with special needs, the care of that child eventually falls on the shoulders of the entire family. The parents generally care for the child for as long as they are able. However, when the parents begin to age, the siblings are often called upon to take over care… Read More »
Can a “Medicaid Divorce” Protect Your Assets?
The term Medicaid divorce refers to a strategic (yet often controversial) legal concept where an otherwise happily married couple will seek a divorce so that one spouse can qualify for Medicaid assistance, and impoverishing the well spouse. To better illustrate why a married couple might consider a Medicaid divorce, let’s take a look at an… Read More »
The Importance of Long-Term Care Planning
Life expectancy in the United States has continued an upward trend over the last several decades. The average life expectancy for men is 76.4 years and the average for women is a healthy 81.2 years of age. What has not trended upward, however, is the number of people engaging in long-term care planning. The… Read More »
4 Ways to Avoid Guardianship
What is a guardianship, and when is it necessary? In Maryland, a guardianship is usually defined as a protective legal proceeding for someone who is incapacitated or disabled and unable to manage his/her own financial and/or medical affairs. Incapacitated, as it relates to an adult, means that an individual is no longer able to… Read More »
Alzheimer’s Disease 101: What You Need to Know to Be Prepared
(Updated November 2021) November is Alzheimer’s Disease Awareness Month. In 1983, then-President Ronald Reagan made November the designated month for National Alzheimer’s Disease Awareness Month. Then fewer than 2 million Americans were diagnosed with this devastating illness that then and now destroys the lives of the people diagnosed with Alzheimer’s and the families who… Read More »
Yes, You Do Need an Advance Directive. Here’s Why.
Most of us don’t like to think about the possibility of something harmful happening to us or a loved one. Because of this, we rarely think about how to protect ourselves and our loved ones if the worst were to happen. However, just as it is important to buy homeowner’s insurance to protect your… Read More »
The Staggering Cost of Dementia to Society
Many Marylanders know of someone who has been diagnosed with dementia. It is a costly, heart-breaking and life- altering syndrome that is nearly doubling in the numbers of people affected worldwide every 20 years. Dementia has affected the likes of Rosa Parks, James Doohan, Robin Williams, Ronald Reagan, Charlton Heston, Norman Rockwell, and many… Read More »
10 Tips for Using a Special Needs Trust to Protect Your Child
When caring for a child or loved one with special needs, it’s important to understand what resources are available to you, and what steps can be taken to provide quality care and financial security is vital to your dependent’s lifetime needs. Careful planning and a properly executed special needs trust can protect your loved… Read More »
How Your Health Savings Account (HSA) Works with Your Estate Plan
If you’re enrolled in a qualified high-deductible health plan (HDHP), you must consider how your health savings account (HSA) fits into your estate plan—especially to make sure that any hard-earned money left in your HSA when you die goes where you want it. What is an HSA? An HSA is an account whose… Read More »
Why Your Estate Planner Needs to Know If You’ve Lent Money to Family
According to data from the U.S. Census Bureau, millennials have surpass the baby boomers to officially become the largest generation in the United States. Millennials age range from 18-35 years-old and they are poised to be the engine that drives the U.S. economy in the near future. With that said, many millennials are skipping… Read More »
