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Federal Assistance Programs are Running Out of Money

Social Security and Medicare, are the two most expensive federal social programs, and it has been recently announced that they will run out of money three years earlier than original estimates indicated. Trustees estimated that Social Security will run out of funds in the year 2033, and Medicare will be insolvent in 2024. More and more pressure is being put on lawmakers to reform these programs for millions of Americans, so that future retirees have a security net for their retirement years.

It is extremely important to get your portfolio and documents reviewed by a financial adviser and an attorney, to make sure you will not be ready if these programs go away. Please call Skillern Law Firm today to set up an appointment.

See Reuters, US Retirement Fund to Run Dry Earlier: Trustees, CNBC, Apr. 23, 2012.

Estate Planning for Veterans

We live in a great country. In large part, this is due to the great sacrifice that our veterans have made, and the sacrifices that men and women in uniform make every day.

Statistics say that one in two Americans will need long-term care. There are many ways to curtail the financial burden that long-term care creates, but veterans are able to take advantage of special programs through the Department of Veteran’s Affairs. One of the programs that the VA offers is the Aid and Attendance pension. The pension ranges from $1000 to $2000 per month and is paid directly to the veteran recipient to be spent for expenses incurred.

The Aid and Attendance pension is available to any veteran or surviving spouse if the veteran served at least 90 days of active duty, of which at least one day was during war-time.

If you or someone you love is a veteran who needs some assistance covering long-term care costs, please contact Skillern Law Firm, PLLC today. Taking care of our veterans is an honor.

The exciting news is that Skillern Law offers VA, Medicaid & Social Security Benefit planning in conjunction with Senior Resources & Benefits, LLC. Please feel free to look at SRB’s website here.

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