The presence of family establishes a steadfast social network and connection that significantly influences a senior's overall quality of life. Prioritizing family relationships provides continuity as older adults experience changes in their social network. Friends may change, become ill and…
For a comfortable retirement, it's crucial to reassess your financial retirement portfolio. While you might have accumulated a substantial nest egg in a 401(k) plan, withdrawing money from it comes with significant tax planning considerations. In the early stages of…
Estate planning is a crucial process that entails the distribution of money and property following the passing of a loved one. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective.…
The two have similar concerns, but elder law applies estate planning strategies primarily to issues facing seniors as they age. How Estate Planning and Elder Law Are Similar No matter what stage of life we’re in, we face challenges. Hope…
Several decades ago, Congress created safeguards to protect the savings of married couples using Medicaid. These protections prevent husbands and wives from bankrupting themselves and funding care for their loved ones. They originally required states to allow spouses of nursing…
The majority of older adults believe estate planning is important, but less than half of those over 55 have a will, a living will, or health care directives. These documents help guide your representatives to provide the end-of-life wishes you…
Elder law encompasses a wide range of legal issues pertaining to elderly or disabled persons. Attorneys practicing elder law advocate for seniors and create legal plans to help them live better. Elder law may include planning for retirement, Social Security,…
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.…
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 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…