Taxes and Alzheimer's

Before you send your tax returns to the IRS, make sure you get the tax-savings you deserve. As a caregiver for a loved one with dementia, you may qualify for tax deductions and credits. Tax deductions The cost of Alzheimer care is high. Because caregivers pay for most care expenses out of pocket, they may be eligible for some tax deductions. Deductible caregiving costs may include: Medical care, including nursing care Transportation essential to medical care In-home care, such as physical therapy Personal care items, such as disposable briefs and special foods Nursing home care Assisted living [...]

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Financial Planning

The New York City Department for the Aging, Health Insurance Information, Counseling and Assistance Program (HIICAP) by calling (212) 333-5511, or visit their website. Assessing the Financial Situation Financial planning should begin soon after the diagnosis of dementia has been made. The first step is to take stock of the person's income and financial resources. If the person with dementia is not able to provide financial information, a properly executed Power of Attorney may be necessary to access the relevant documents. Income and Resources Regular monthly income as well as assets need to b [...]

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Legal & Financial Planning

The Need for Legal Planning If not already done, legal planning should begin soon after a diagnosis of dementia has been made. People with dementia may be able to manage their own affairs at the beginning. As the disease advances, they will increasingly need to rely on others to act in their best interest. A good way for caregivers to get an introduction to Legal and Financial Planning is to attend a free Legal and Financial Seminar at our Manhattan office. It is recommended to attend an Understanding Dementia meeting before attending the Legal and Financial Seminar. Topics include: Durable Po [...]

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Legal & Financial Planning

These seminars are designed to acquaint families affected by Alzheimer's disease and related dementias with legal and financial issues associated with planning for the long-term care of their relative. An attorney specializing in Elder Law will discuss important topics family members should understand before meeting with their personal attorney. TOPICS TO BE COVERED: Power of Attorney Health Care Proxy Long-Term Care Insurance Joint Bank Accounts Guardianship Medicaid Eligibility We recommend that you attend our "Understanding Dementia: What You Need To Know and Where To Go" meeting [...]

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