Magazine article The CPA Journal

The Complete Retirement Survival Guide, 2nd Edition

Magazine article The CPA Journal

The Complete Retirement Survival Guide, 2nd Edition

Article excerpt

The Complete Retirement Survival Guide, 2nd Edition By Peter J. Strauss, Esq., and Nancy M. Lederman Facts on File, ISBN: 0816048045; $18.95 softcover; 420 pages

I was delighted when Peter Strauss and Nancy Lederman produced a guide from their earlier publication, The Elder Law Handbook. As a Personal Financial Specialist (PFS), I've been involved in elder-care planning on many levels and worked with Peter Strauss on several elder-care cases.

Advisors need quick answers and have relied on such resources as the Master Tax Guide and the Tax Facts. The Retirement Survival Guide is not only a new must-read reference for all financial planners, it is also a great tool to give to individuals planning for retirement.

The book takes a reader through everything about retirement and elder-care planning, including health-care costs and needs, long-term care financing, lifetime planning, gifts, estate and income tax, employment and benefits issues, housing, and how and where to get help. Each chapter is filled with pertinent questions and answers.

The book does an excellent job explaining the Medicare and Medicaid benefits and their limitations, and even includes a pro forma New York State health-care proxy.

The book helps readers negotiate the entire Medicare maze, starting with the eligibility requirements of Part A (hospital coverage) and Part B (medical insurance). It also explains prescription drug benefits, deductibles, and copayments. How to appeal a Medicare decision is discussed step by step. Another chapter explains the long-term care features of Medicare, followed by the most sought-after information regarding Medicaid and long-term care. …

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