What is a trust? A trust is the legal relationship that is created when a person transfers property to a trustee with the understanding that the trustee will manage the property for the benefit of one or more beneficiaries (revocable living trusts). The term “property” is used here in its broadest sense to include both […]
As a result of medical technology, we are definitely living longer. When we continue living, we age; when we age, we need care. It isn’t a question of who will care for you. The question is, “What impact will that Long-Term Care have on your family – physically, emotionally and financially?” Until age 65, most […]
The recession of 2008-2009 has especially affected retirees whose fixed income investments no longer provide enough money to live. For many retirees, credit card balances have increased the past several years and they can’t even afford the minimum payments. Others make mortgage payments on homes that are now worth less than the total mortgage debt. […]
Many people believe it is important is avoid probate. Some have heard that using a “living trust” avoids probate. Others may have had a particularly bad experience with a probate court. To understand why one might want to use or avoid probate, let’s first understand what the probate court’s role is in processing estates of decedents, sometimes called the estate administration process.
Estate planning helps ensure your assets go to your desired beneficiaries after you pass away. This article describes the tools, such as gifts, wills, beneficiary designations, trusts, and strategies that elder law attorneys use to create an estate plan. Elder law attorneys use the following tools and strategies to create an estate plan that helps ensure […]
Elder law is a specialized area of law that focuses on assisting older individuals and those with disabilities preserve their dignity, protect their assets, and make good decisions despite increasingly complicated laws. This specialty encompasses such areas as planning and paying for long-term care, asset preservation, housing options, disability planning, estate planning (including the use […]
An estate plan aims to preserve the maximum wealth possible for the intended beneficiaries, while providing financial flexibility for the plan’s owners throughout their lives. Most Americans can benefit from estate plans, but more than half don’t have one in place. Why have an estate plan? There are many compelling reasons to have an estate […]
Long term care has evolved into a “catch all” phrase that is confusing to the lay as well as the professional community. The boundaries among primary, acute, and long term care have blurred. Instead of concentrating on acute care in hospitals, our health care system’s focus has switched to managing chronic conditions in a variety […]
Over the years, I have brought up the topic of long-term care insurance with my clients and friends. Some got coverage, but many did nothing. So, I asked a few of the “do nothings” why they took no action. Gene, why don’t you own a long-term care insurance policy? “We believe our care is the responsibility […]
In the face of volatile investment markets, rising medical costs, increased taxes, and uncertain social security benefits, many retirees are looking for solutions. This article is designed to assist retirees in planning for retirement while taking a critical look at the financial Instruments industry’s packaged solutions. What’s your number? How much in retirement capital is […]
How is it that Americans, who enjoy a relatively high standard of living, do not think about creating an equally high standard for their Late-Life Plan? Does it make sense that when we reach the peak of life experience, knowledge and competency, we stop planning how we will enjoy our lives to the fullest? […]
Long Distance Caregiving After my parents retired to Florida, we thought things would be fine; if something happened to them, we could hop on a plane and take care of things. Unfortunately, it was not that simple. Dad broke his hip and needed short term rehab – unbeknownst to us, he had been taking care […]
Managing depression is a serious life threatening illness, which without question increases the risk of mortality in elderly patients and is linked with increased mortality of residents in nursing and assisted living homes, along with other long-term care facilities. Studies reveal that the presence of major depression during admission to a nursing home facility more […]
CCRCs combine independent living with assisted living and nursing home care A “CCRC” is a Continuing Care Retirement Community, the most comprehensive retirement living option available to seniors in America today. A CCRC combines the services of an independent living retirement community with an assisted-living facility and a nursing home at a single location. In exchange […]
Of all the issues of aging, none has been more emotionally or medically challenging than Alzheimer’s disease. And because we are living longer, the incidence of Alzheimer’s is on the rise. More than 1,000 cases are diagnosed each day in the U.S., In Georgia alone, the Alzheimer’s Association counts more than 160,000 cases. While Alzheimer’s […]
If you really want to understand what Eldercare Advisor is all about, talk to someone like Jeanette Johnson. In 1990, her husband, a Navy veteran of 24 years, passed away. In 2001, she suffered two strokes within 20 days. While many might have given up, the self-described “stubborn” Mrs. Johnson persevered. She rebuilt her physical […]
Will I Get Alzheimer’s if My Parent Had It? This is the second most asked question from a patient’s loved one: “Am I going to get it too?” The most frequently asked question is: “What is the difference between Alzheimer’s Disease (AD) and Dementia?” Dementia is an umbrella term for many types of memory loss. AD […]
When Mildred Austin inquired about a reverse mortgage, she did not know much about them. “All I knew was that this could help me; I needed someone to explain it to me”. After talking with a Department of Housing and Urban Development (HUD) Counselor, meeting with a reverse mortgage specialist, and discussing the options with […]
During the last several years, I have had the honor to address my colleagues at the AICPA’s (American Institute of Certified Public Accountants) National ElderCare conference in Phoenix, and to serve as a panelist at the day-long nationally televised symposium for ElderCare professionals in Dallas. The overriding message I heard from fellow CPAs and attorneys was […]
Raymond and Sally are what almost everyone wants to look like and act like when they pass their 80th birthday. Sally still volunteers at the local elementary school and Ray is a landmark at the local golf club. They seem to have everything – good health, a fine daughter and son-in-law and three adorable grandchildren. […]
Not too long ago, families had few choices for senior housing. If an elderly person was unable to manage in their own home or could not be cared for by his family, then the nursing home for the infirm and the most frail was the only housing option available. Today, it is quite different. Families […]
It is exciting to move to a more manageable home after years of maintaining a large home and yard. The choices for downsizing are much greater now than ever before. Downsizing may involve moving to a smaller home, a ranch condominium, or even a larger home on a smaller lot. It may also involve changing […]
Stockbroker Fraud Six months have passed since Betty’s husband Joe died. Betty always let Joe handle the money matters. He had always been a savvy investor, but in the last several years, it had become obvious that Joe really was not on top of his game. Now, Betty asked her daughter Sarah to help her […]
When was the last time you talked with an investment professional who didn’t promote diversification? Stocks, bonds, cash, real estate, some international as well as domestic investments–it’s called asset class diversification and it’s a principle of sound investing (Avoiding Long-Term). According to Jeff Bernier, an Atlanta-based financial planner, elderly investors have a unique set of […]