While many of these Americans want to work, the unemployment rate among 55 and older workers remains high. COVID-19 restrictions and associated layoffs account for some unemployment increases, but so does the lack of employment opportunities among older Americans. A coexisting challenge in the US...
Stepchildren are often part of modern American families, and they are often treated the same way as full biological children, even in cases of inheritance. This is particularly true where stepchildren are part of a blended family from an early age. Biological siblings may have different feelings ...
As part of the will, a personal representative (executor) is required to publish the date of death of the testator in a local newspaper. In part, this information serves as notice to creditors if the decedent has an outstanding debt with them. The personal representative must also make a reasonab...
A third-party special needs trust, also known as a supplemental needs trust, is an estate planning tool for parents of kids with mental/physical disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability. Goals i...
People of all ages benefit from exercise and physical activity, but it becomes even more vital as we age. Regular exercise and physical activity can help you to: Maintain or improve physical strength and fitness; Continue to do daily activities that are important to you, such as driving, sho...
While probate sounds costly and complicated, it is actually a standard legal procedure that formally formalizes how some assets are passed from a decedent to their chosen heirs or beneficiaries. Whether or not you require probate depends on the type of property and how you own it, and the state l...
We will face one of the toughest challenges in life when we have to contemplate our own death. Yet it is very important to think carefully about the medical treatment we would want for that challenging time. Medical technology can now keep us alive long after we have ceased to enjoy a meaningful ...
A typical belief among young adults, even those with professional careers older than thirty, is that they are too young to be concerned about estate planning. Young adults in their twenties and thirties often think they don't own enough to constitute an estate. However, an estate is the total of ...
Vaccines are available, but their distribution has been slower than expected. So how do we continue to maintain strong mental health during the next several months after enduring so much already? The human being is hardwired to evaluate risks that can interfere with our wellbeing. However, these ...
To make sure your estate plan is in order, you should meet with your friendly elder-law attorney in the new year. This pandemic is not done with us yet, unfortunately. Of course, we hope you don't get sick, but if you do become so ill that you can't speak for yourself, it's extremely important to...
While the baby boomer generation ages and international migration continues, the senior citizen population of the United States is increasing rapidly. Although the US average life expectancy has seen a slight three-year decline, many Americans, men, and women live well into their 80s, 90s, and be...
During the writing of a will, I read that I could leave my property to my children "per stripes." Why is the law talking about us like we're some kind of zebra? The phrase is Latin and it is “per stirpes,†not “per stripes.†Some bits of property law are extremely ancient in origin and this...
There are many people these days battling an addiction, living on the streets, or suffering from a mental disability - or all three at once. Many families want to assist family members struggling like that, but families are unsure how to offer that assistance, given that money might hurt more tha...
It is prudent to have open and honest discussions about your mortality with your family, even though it is a sobering experience. No one relishes the thought of their demise, and yet with forethought, you can ensure that your estate plan and your healthcare arrangements best reflect your wishes. ...
Properly managed retirement savings can bring freedom in lifestyle when ready to retire. Sadly, reports say that less than 5 percent of Americans will be financially free by the age of 65. Changes in the U.S. economy coupled with increased health care costs and lack of personal savings have put m...
The passing of a spouse is not only a very emotional challenge but can be financially difficult as well. It is common for one spouse to handle family tax and estate plans, and a widow(er) may be looking at a complex financial situation with more questions than answers. It is a mistake to think th...
In the past, it was common for extended family to live close to one another, providing support and care for family members. Now many families live far out of reach from the daily lives of their elderly parents save for the internet and internet of things allowing for digital contact. Even those l...
According to Florida Today, 46 million Americans own the well-known crypto asset, Bitcoin and the number of people owning cryptocurrency is growing steadily. Bitcoin was created in January 2009 by Satoshi Nakamoto as a peer-to-peer electronic cash system. This digital or virtual currency is held ...
Entrepreneurs have several important characteristics in common such as motivation, creativity, persuasiveness, risk tolerance, versatility, vision, innovation, communication and collaboration, flexibility, and decisiveness. These individuals create new businesses bearing most of the risks and rea...
A married couple, Ginny and George, had extended family they wanted to leave their assets to when they died. Unfortunately, Ginny was then diagnosed with cancer. She began to worry: What could happen if she died before George did, and George remarried? Or vice versa? What if the second spouse sta...
The America Medical Association (JAMA) conducted a 10-year study and found a connection between hearing loss and health risks. The risks include a 50 percent greater risk of dementia, a 40 percent greater risk of developing depression, and nearly a 30 percent higher risk for unintended falls. Reu...
Just about 50% of Americans do not currently have a will. While a will is a necessary document that every person who owns assets should have, it is still a relatively simple document that may not cover everything you want it to. You may want to consider creating an estate plan that involves the u...
Your nephew, Roberto, receives social security benefits and you have been assigned to manage these benefits. In the Social Security system, you'll be called Roberto's “representative payee.†The situation is similar if you're appointed to help your elderly father, who has dementia, manage his ...
Initially, it may seem as though life insurance does not have much impact on your estate plan. However, life insurance can be an integral, indispensably important part of a well-thought-out estate plan. There are numerous other benefits to owning a life insurance policy aside from providing a lar...
The US Census Bureau estimates that there will be 92.1 million Americans that will be 65 or older. Senior Americans will constitute slightly over 20 percent of the population as a whole if these projections are accurate. By the year 2030, all of the baby boomers will have moved into the populatio...