It's Your Bizness  

Know anyone celebrating life on the flip side of 50? This simple search function has been designed as part of a move to bring some of the internet social networking to the over 50 Boomers that the xGeners have been touting recently. The search function called “cRANKy” shows the four highest-rated search results based on the editors' and members' ratings. The ratings and opinions of the community determine how cRANKy ranks sites, making this the world's first age-relevant search engine.

This unique search function is just one of the many features and communities these folks have brought to the web. They tell us that “these communities reflect what boomers are most eager to talk with each other about, from 50+ Singles and Six Degrees of Separation (Make New Friends) to Bookoholics, Travel, and Photography.” . . . Interesting place for your friends or relatives who call themselves Boomers!   Click here to check it out.  

And, it s sister site,  www.eons.com , also aimed at the same audience, bills itself as a place to "celebrate life that begins at 50." Site topics include fun, love, money, and life dreams. Both sites are the brainchild of Jeff Taylor, the founder of the online jobs board  www.monster.com .

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Free Advance Directives "Caring Connections" have a wealth of information on  several topics : Advance Care Planning, Grief, Hospice, End of Life Financial Planning and Caregiver Resources and Tips. Take advantage of the   FREE Advance Care Directive Document  available at their site that is legal and State Specific.

Check it out Link Below :

http://www.caringinfo.org/i4a/pages/Index.cfm?pageid=3425

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Protect Your Assets From Nursing Home Costs

Protecting assets from nursing home costs is the latest challenge for seniors where government is demanding an uncapped spent down of their asset if one of them falls victim to a nursing home. Canada and some other countries offer this benefit as part of their rights, since they contributed to their Medicare Medicaid system during their working years.

The United States apparently, is going the route of demanding that seniors cover their own expenses, eve if they carry private plans. What hurts the most is that there’s no cap on what has to be the spent down under the new provisions mandating that all states adopt the new federal guidelines on nursing home eligibility or lose their federal funding.

The evidence is clear, the baby boomers generation cannot expect government to cover their medical and nursing home costs. They have begun with existing seniors, who before they can even qualify for the nursing home cannot move their assets (asset protection) without the 5 year look-back, it was 3 years.

You don’t need a fortune teller to point out, that if one of you gets sick, your hard earned assets will vaporize …-right before your very eyes. Even if you planned carefully for your retirement, a catastrophic medical event will leave both of you devastated, one sick one without any resources.

Planning for your reducing your nursing home costs has to be done early and definitively 5 years before you plan to get sick. Any string attached to your planning will void your plan to protect your assets from the nursing home costs. Your plan must be irrevocable. You cannot be the Indian giver, or the kid with the basket ball making-up the rules as he sees fit whereby if he doesn’t like the way the game is progressing takes back the basket ball and goes home to his mommy.

Any asset transferred from you to something else, some legal structure has to be at the “fair market value” the price paid by a willing buyer and a willing seller neither under a compulsion to buy or sell, each acting in their best interest. If it’s a taxable gift, it has to be justified with a legitimate appraisal and taxes have to be paid on the gift by the transferor, the receiver of the gift is always tax-free. If it’s a sale, the cash has to be exchanged. There are methods by which no cash need to change hands and still be a legal exchange. It’s called the “private annuity.”

A private annuity is nothing more than a contract between the guy with the money and a custodian whereby in exchange for the cash the custodian promises to pay over the transferor’s lifetime a certain amount, thus limiting the amount that can be used to defray the cost of the nursing home.

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Reverse Mortgages have become quite the buzz word of late. We are bombarded by commercials, books and pamplets, public service announcements and solicitations from lenders. In trying to bring you the latest information, we have found one source that is complete and thorough regarding this topic. We think the following article will give you a complete overview of this complex topic:   http://www.aarp.org/money/revmort/ and here is another great web site:  www.FinancialFreedom.com -- Financial Freedom is considered the leader in the Reverse Mortgage market.

 Other Reverse Mortgage Options

 Can I qualify for a HUD reverse mortgage?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home. You are further required to receive consumer information from HUD-approved counseling sources prior to obtaining the loan. You can contact the Housing Counseling Clearinghouse on 1-800-569-4287 to obtain the name and telephone number of a HUD-approved counseling agency and a list of FHA approved lenders within your area.

 How Do I Receive My Payments

You have five options:

• Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
• Term - equal monthly payments for a fixed period of months selected.
• Line of Credit - unscheduled payments or in installments, at times and in amounts of borrower's choosing until the line of credit is exhausted.
• Modified Tenure - combination of line of credit with monthly payments for as long as the borrower remains in the home.
• Modified Term - combination of line of credit with monthly payments for a fixed period of months selected by the borrower.

Resources We Hope Will Come In Handy

Social Security Online - http://www.ssa.gov/
The official Social Security online website.

Arkansas Senior Resources:  http://www.state.ar.us/family_seniors.php

AARP - http://www.aarp.org/
A non-profit organization for persons 50 years and older by addressing their needs and interests.

Senior Housing Net - http://www.seniorhousingnet.com/seniors
Senior Housing Search Engine

Online Community for Seniors - http://www.senior.com/
Their goal is to provide our members with a safe community to communicate with family and friends, to research information and to purchase items in a secured environment.

CareView - http://www.careview.com/index_down.html
The premier guide to Skilled Nursing and Assisted Living facilities

Senior-Center - http://www.senior-center.com/
A great website for Seniors.

RX  Assist - http://www.rxassist.org/default.cfm  
The Web's most current and comprehensive directory of Patient Assistance Programs

Area Agency on Aging -- the Senior Specialists:   http://www.seniorspecialists.org/index.htm

Portable Ramps by American Ramp Systems:  http://www.americanramp.com

Senior Discounts:  the largest directory of businesses that offer discounts to people 50 years of age or older:  www.SeniorDiscounts.com

   Hot Springs Computer Classes for 50ish Residents are registering now and starting soon. Last year "Senior Net" had over 350 graduates. This is a wonderful environment to learn computers, or enhance basic skills. Classes are very affordable, with most as low as $ 20.00.  http://www.hotspringsseniornet.net/index.html