If you plan ahead for the care which many of us will need at some point, 100% impoverishment need not be the only option. We help families everyday get through the maze of long term care planning.
How will programs that seniors rely on be affected? The good news is that big chunks of the budget are exempt from the sequester’s cuts, including Social Security, Medicaid, and veterans’ programs. But while there should be no change in benefits for these programs, the federal workforce that administers them would be slashed, leading to delays and frustration.
As an estate planner, we have been telling clients for decades that once the scheduled changes took place, we would need to revisit their plan to ensure it still does what the clients wants it to do. Now the changes are resolved and are as permanent as they could be at this moment.
How common is financial elder abuse? If you detect any sudden changes in a loved one’s financial situation which may indicate exploitation, you should be very concerned and consider getting involved.
If you know of a relative, or even a friend offering care to a loved one, it sometimes helps just to have an understanding of what resources are available. Some options are more appropriate than others depending on the individual needs.
Most extended families are familiar with a circumstance or two where a relative provides the primary care for a dependent due to special needs, short term medical condition, or an elder who requires home care. Regardless of the situation, caregiving can be challenging. We are here to inform you that there are resources available in your community to help relieve such challenges. If you know of a relative, or even a friend offering care to a loved one, it sometimes helps just to have an understanding of what resources are available. Some options are more appropriate than others depending on the individual needs.
Life Care Planning is a service that helps people find and pay for good care for life. It is a “team” approach serving the needs of the client, which combines the skills of both of the Elder Law Attorney, Financial Advisors, Care Coordinators and Other Professionals.
A Continuing Care Retirement Communities (CCRC) is a progressive development in housing alternatives for active and engaged seniors, but with an assisted living component and even a nursing home. Wouldn’t it be nice if you could find a place to live for the rest of your life? Namely, a place that is comfortable, so that as you (or your spouse) require more care, you wouldn’t have to leave your complex, leave behind friendships and support systems, or face the uncertainties of future care needs?
Asset collection is very different now because many of these treasured items that used to have a physical presence are contained within computers or virtual archives in the cloud. In our mobile society, it can be very difficult to locate an asset, or once located, to gain access without a password. This data is known as a “Digital Asset.”
A trust is an agreement that you have with yourself that sets out the instructions for how your money will be managed both during your lifetime and after your passing. In many cases, individuals will benefit from having a trust, but not everyone needs to have one.