- Elder Law16
- Estate Planning152
- How To Start Estate Planning75
- Trust Administration12
According to the American Association of Retired Persons (AARP), roughly 50% of those aged 65 will need long-term care (LTC) one day. Long-term care insurance covers things not normally covered by regular medical insurance. This includes nursing home, assisted living or home care for those who need it, due to chronic conditions like dementia or other disabilities.
As you age, it is important to have your affairs in order to ensure peace of mind for you and your family. Several documents need to be in place to help your family know and carry out your wishes.
Each year, senior citizens lose billions of dollars to financial fraud, with the loss to individual victims averaging tens of thousands of dollars.
The heirs to Henry Ford II – the eldest grandson of legendary Henry Ford – filed a legal challenge against their late patriarch’s attorney, Frank Chopin, who is now the champion of Ford’s widow, Kathleen DuRoss Ford, 80.
Scammers gravitate to tightened finances, like moths to a flame. To complicate matters, shelter-in-place restrictions have pushed people to make more online transactions. That means new opportunities for fraudsters to take advantage of seniors, who may be new digital accountholders.
Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if an attentive financial advisor hadn’t noticed the large IRA distributions that were allegedly stolen right from under a matriarch’s nose.
Without a proper elder law estate plan, the children’s responsibilities are even more exhausting, stressful and sad.
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
Unless you are a spring breaker partying it up, you have probably given your own mortality a once-over or two during these long COVID-19 days.
The value of long-term care insurance (LTCI) is an ongoing conundrum. There’s no doubt we’re living longer. According to LongTermCare.gov, a site provided by the U.S. Department of Health and Human Services, at least 70 percent of people 65 and older will need long-term care services and support at some time in their lives.