Imagine this scenario, an unwed middle-aged lady, Sandy, being the sole caretaker for her 85-year-old mother. Sandy still worked full time and would help her mom in the evenings and weekends. Unfortunately, Sandy was in a serious car accident and…
It is unclear whether or not your parent has a plan in place for long-term care. It is a difficult topic to broach; no one wants to talk about death and the financial realities that come with aging. Instead of…
There are currently more than 51 million Americans that are 65 or older, and this number is continually growing due to medical and technological developments. The expanding needs of the US aging population are contributing to an increase in federal…
Substance abuse, suffering from mental disability, or living on the streets are just some of the real-life issues people are grappling with today. Many families want to assist family members struggling like that, but families are unsure how to offer…
The law describes estate planning as a legal document summarizing the property a person owns and how to distribute these assets when deceased. Property ownership includes individual as well as jointly owned bank accounts, stocks and bonds, retirement accounts, real…
Bankers Life Center for Secure Retirement commissioned The Blackstone Group to perform a study of how prepared baby boomers really are for retirement, and the results are troubling. According to the survey above, the bleak financial reality of this demographic is…
The federal estate tax exemption allowance seems to be at risk of being reduced, and so it may be a good idea to reevaluate your estate plan. Senate Democrats are proposing to lower the current estate tax exemption from $11.7…
As a married couple grow older, let’s use Ginny and George as an example, it is typical that they would like to leave their assets to their extended family when they pass. Unfortunately, Ginny was then diagnosed with cancer. She…
As retired Americans grow older, their dependency on the family to handle financial and health matters increase. They often believe that their family members will be able to take care of any issues that arise. While consulting with loved ones…
A rising number of retirees and aging Americans are using bankruptcy as an option to get out of debt. While medical advances are keeping seniors alive longer, the associated healthcare costs in the quest for longevity are being off-loaded onto…