Inflation will continue to rise in the United States into 2023 unless significant course corrections are made. Bankrate’s Third-Quarter Economic Indicator poll projects inflation will be more significant than previous expectations over the coming twelve to eighteen months. Even in the…
The experts agree that you should not wait until your parent is in cognitive decline to discuss finances with them. It will take time to gather all the information you need for a complete financial assessment of their aging needs.…
The IRS adjusted the portability strategy of deceased spouse unused exclusions on July 8, 2022. This adjustment made it easier than ever for high-net-worth married couples to avoid paying federal estate taxes. Understanding the Portability of a Deceased Spousal Unused…
According to research, 27% of American adults live alone or are aging alone, whether by choice or unforeseen circumstances. These statistics are expected to increase as societal norms evolve and different ways of living are embraced. Being single is no…
The probate process is the formal recognition of a will, the selection of a personal representative (executor), and the distribution of the estate's assets to those who are intended to benefit from them. It also requires paying the decedent’s outstanding…
The Federal Trade Commission (FTC) received 5.7 million fraud and identity theft reports in 2021. According to The National Council of Identity Theft Protection, cases of fraud are up 70% from 2020. While everyone is at risk for identity theft, senior…
Imagine that you have been married to the love of your life for 55 years, only for your spouse to be diagnosed with dementia a couple of years ago. Despite your best efforts to provide care, it’s becoming increasingly obvious that…
In most of our minds, hospitals are places where we go to recover from injuries or illnesses. That’s not the case for many elderly patients though. They leave the hospital in worse condition than when they were admitted. Even if…
A special needs trust (SNT) must be properly funded, so that certain assets can be designated to the trust. The trustee can then distribute these assets to the disabled individual. Before funding can happen, you must choose the type of…
You should consider an assisted living community if your parents are aging and need assistance with daily activities. Identifying the suitable facility "fit" for your loved one is a journey requiring matching your parents' needs, budget, and lifestyle with desirable…