There is significant financial insecurity among US seniors due to the current inflationary pressures. Aside from cutting back on unnecessary expenses, many retirees or near retirement individuals should look to existing government programs to possibly qualify to receive assistance and reduce the ...
An estate plan specifies how your property will be distributed when you die and provides instructions regarding how to care for your dependents. If you have people who you love and care for, then creating a will for your peace of mind and their protection is the right thing to do. Though crafting...
Despite its reputation as a rite of passage for the very wealthy, estate planning is simply the accumulation of real estate an individual owns, and most people own some or all of their own property. Property ownership includes individual as well as jointly owned bank accounts, stocks and bonds, r...
A CDC report reports that one out of every five falls among seniors results in a serious injury like a broken bone or head trauma. Injuries of this sort can make life difficult for an older person to do everyday activities or live on their own. Half of the time, when a senior falls, it goes unrep...
Although elder law and estate planning are often used interchangeably, they differ significantly. While some overlap exists between the two, learning and implementing strategies from both law practice types is crucial to prepare for successful aging and preserve a family legacy. Estate planning l...
The term conservatorship is used in law to refer to guardianships over adults. Someone (or more people) can make decisions on behalf of another. The conservator is the person(s) with the power to make decisions, and the conservatee is the adult who needs help with their financial, health care, li...
Prior to applying for federal Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), it is beneficial to review some of the major disqualifiers. Eligible individuals can benefit from both programs though they have distinct differences. The major difference is SSI eligi...
No matter what your orientation is, estate planning is essential to protecting your loved ones. In the LGBTQIA+ community, estate planning can legally protect against discrimination even if others are reluctant to recognize your relationship and your desire to permit your partner to make decision...
Anyone can become incapacitated at any time due to trauma or disease. It happens to people every day, unfortunately. With this knowledge, many people like to prepare in advance for the kind of treatment they want in the event of cardiac arrest, respiratory failure, stroke, and brain death. Some p...
On August 14, 1935, the US federal government launched its social insurance program to provide retirement, disability, and survivor benefits. Since that time, in part due to the disappearance of extended family networks, an increase in population, and a profound increase in life expectancy, it ha...
The term long-term care (LTC) encompasses a multitude of aspects. Long-term care is comprised of a variety of services that meet medical and non-medical requirements for people who cannot care for themselves for long periods. It is a highly individualized care system that can be formally or infor...
With age comes wisdom, but it is also accompanied by some forgetfulness. Fortunately, there are things you can do to keep the brain sharp, small daily habits that can reduce the risk of cognitive decline. Exercise is one such daily habit. It increases blood flow, and thus oxygen to the brain; it ...
Estate planning is a major concern for the older generation, as you might expect, however, a survey found that 19 percent of people over 72 and 42 percent of those between 53 and 71 do not have an estate plan in place. Although managing these details can seem daunting, and even depressing, the ta...
You cannot escape aging, and every family system is affected by it. Even if you are in the fortunate circumstance where your aging parents can go it alone for a long time there will come a day when assistance or long-term care will be needed. There are things to consider as you help your parents ...
The American Bar Association (ABA) describes probate as the legal process that recognizes a will and names the personal representative (executor) to administer an estate to intended beneficiaries. Navigating the probate process will vary according to state law. Therefore, it is good to contact a ...
In America, aging well and securely is at best a costly undertaking. The financial toll for millions of the elderly and those families who do their best to care for and support them. Long-term care facilities and retirement communities cost staggering amounts of money, as do the high costs of pre...
Probate is the process by which judicial officials, including probate judges, handle a deceased person's will. While state probate laws may vary, the general process is quite similar across the country. Probate is the process of proving wills for decedents'. A probate judge will also oversee case...
When it comes to digital assets, traditional estate planning elements are mostly obsolete. Crypto-assets may comprise significant individual wealth in the forms of cryptocurrencies like Bitcoin and noncurrency blockchain tokens. If you own any of these asset classes, addressing complex challenges...
You must consider certain criteria when you need to select an executor for your estate, or accept the responsibility yourself as a representative of an estate. These include the complexity of the task and the order in which it should be completed. Beyond the emotional healing process when you los...
Long-term care is something most of us will have to consider at some point in our lives, so planning is essential. While we cannot predict the timing or level of care, we can take steps to prepare for an unexpected medical and financial crisis to help reduce the stress on ourselves and our family...
There may be disagreements among your heirs, including minor and adult children, regarding family circumstances, especially regarding inherited estates. Relationships can change and intensify when you die, with underlying issues that bubble to the surface, creating tensions over your estate and p...
By avoiding probate through legal methods, you can save taxes, keep your estate out of public view, and avoid needing court approval every step of the way. It can save you time, frustration, and in many cases, significant attorney and court fees. Your personal representative sometimes referred to...
A Power of Attorney (POA) document should be part of your estate planning process. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to act as your agent or proxy on your behalf. Depe...
Many adult children in the US live far away from their parents. Managing aging parents or in-law medical events can be a serious challenge without proper preparation and understanding of what your parents' strategy may or may not be, no matter where you live. Do you know what legal documentation ...
The World Health Organization (WHO) named the novel 2019 coronavirus outbreak on February 11, 2020. The coronavirus disease 2019 shortly after became known by its abbreviation, CO for corona, VI for a virus, D for disease, and 19 for the year of the outbreak; COVID-19. This virus will likely beco...