We all want what is best for our families. Ideally, we would like to help loved ones on both ends of the continuum of life: the younger generation with expenses related to college, home buying, and starting their families; and the elder generation with expenses related to retirement, nursing home costs or assisted living situations […]
During the Middle Ages, the word “hospice” described a place where weary pilgrims could stop, rest and refresh themselves before continuing on their journey. In 1967, a British physician, Dr. Cicely Saunders, began using the term to mean a new kind of care for patients who were near the end of the journey of life. […]
Death or incapacity can creep up on anyone. If you’re not prepared, your family could bear a heavier burden when handling your estate or financial affairs. Here are five tips to help everyone lighten the load. Make an Estate Plan One of the most important things you can do to get your affairs in order […]
Advance directives are legal documents that allow you to proactively make certain choices about your medical decision making and end-of-life care prior to a crisis. Advance directives allow you to tell your loved ones and health care professional in writing who you want to make medical decisions on your behalf; who you want to be […]
Proper estate planning allows you to make informed decisions about the handling of your assets. Having a plan in place gives you and your loved ones peace of mind knowing that you had the opportunity to maximize the value of your estate and make the designations you wanted. Knowing the common estate planning mistakes will help you […]
Open enrollment for Medicare Advantage plans and Part D prescription coverage begins on October 15 and ends on December 7, 2020. When it’s over, whatever decisions you may have made will be set in stone for a full calendar year. Mistakes are costly, especially for people who require multiple prescriptions. Also, if you do not […]
When you create an estate plan, you have a tremendous sense of accomplishment. To maintain the positive effects of your plan, you should review the documents in your estate plan periodically to ensure that they continue to address your circumstances. Updating your plan and documents is extremely important, because your needs and goals change as […]
Stuff. We all have it, some more than others. Stuff is the things that we have bought, found, inherited, collected and happened upon. Some of the stuff might be valuable, some might just be worthless but we liked it at the time and we still have it. To me, stuff is like stuffing; it fills […]
“Elderspeak” is a unique pattern of speech – similar to baby talk – that younger individuals often adopt when speaking to the elderly. The tone of elderspeak can seem condescending, express unwanted pity, and potentially foster resentment among older adults. The characteristics of elderspeak include: Slow and careful speech Simplified grammar Assumption of helplessness Exaggerated […]
In 1771, George Washington famously wrote to Harriot Washington, “It is better to offer no excuse than a bad one.” Washington was reminding his niece to think more earnestly about life, but his advice still rings true today, particularly when it is time to plan for serious matters. More than half of Americans over the […]
This video about an important Asset Protection legal issue is provided by Dennis J. Toman, CELA, founder of the ElderLaw Firm in Greensboro, North Carolina – one of North Carolina’s TOP Elder Law Firms and Estate Planning Law Firms. Attorney Toman and his firm are Members of the National ElderCare Matters Alliance and have a […]
Old age certainly brings its share of challenges. One of them is relinquishing your independence. This is often a gradual process that may include giving up your driver’s license or moving closer to family. For many people, the process includes moving in with adult children. For others, it includes moving into an assisted living facility. […]
Elder Care (which is also called Senior Care or Elderly Care) describes a range of services that are meant to help older people live comfortably and independently. These services may be performed by the senior, by the senior’s family or they may be performed by paid professionals, such as Elder Law Attorneys, Estate Planning Attorneys, Home Care Providers, Senior Living Communities, or a […]
If you’re retired and recently saw the value of your stock investments plunge, you’re probably facing two bad choices: Live on less until the market recovers or withdraw your usual amount. The catch on making your usual draw is that you need to sell off more of your invested funds to raise the same amount of […]
Mom lives in her own apartment and she likes it that way! But while she is socially isolating during the pandemic, her adult children and grandkids worry about her. They tried to video chat, but she couldn’t figure it out. And during their visit over the holidays, they noticed Mom wasn’t keeping up with household […]
We all forget things now and then, especially as we get older. However, if someone you love has grown noticeably more forgetful or absentminded over time, it could be a precursor to a serious cognitive issue like Alzheimer’s disease or other types of dementia. Possible Signs of Dementia in Seniors Memory loss is exceptionally common […]
When caring for a loved one or planning for your own Elder Care needs, there is no such thing as too much information. Below are some Elder Care / Senior Care resources links that you need to have readily available as you plan for and deal with your family’s Issues of Aging: AARP Caregiving Geriatric […]
Important Issues to Consider When Setting Up Your Estate Plan Often estate planning firms focuses on the “big picture” issues, such as who gets what, whether a living trust should be created to avoid probate and tax planning to minimize gift and estate taxes. However, there are many smaller issues, which are just as critical […]
Aging parents often need help with personal care, health concerns, and financial decisions. They may even lose the mental capacity to make decisions and care for themselves. If an elderly parent has legal documents authorizing individuals to handle those matters and issues, there may not be any family disagreements. Unfortunately, elders often do not have […]
Many individuals who establish trusts choose to name a close friend or relative as trustee. However, there are many situations where naming a corporate fiduciary is a far better alternative. Acting as a trustee requires that the person have a good background in finance and tax. Failing that, the liability of making poor financial decisions […]
June is Alzheimer’s and Brain Awareness Month Alzheimer’s Disease is a public health crisis impacting more than 5.8 million American seniors, 50 million worldwide, or one-in-ten people in the United States age 65 or older. As Baby Boomers continue to age, the number of Alzheimer’s cases is also expected to increase. While there is currently no known cure, advocates […]
Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be vulnerable to being contested in court because it either: a) doesn’t reflect the wishes of the person who created the will, or b) because the will does not […]
Senior Divorce as a Medicaid Planning Strategy Harry and Wanda got married late in life. This was their second marriage, and both had children from the prior marriages. The couple wanted their children to inherit from their respective parents, so Harry and Wanda signed a prenuptial agreement to keep their property clearly separated. Unfortunately, Harry […]
We are often asked about the difference between estate planning and elder law. Although we believe that the two go hand-in-hand, there are important distinctions between them. One notable similarity, however, is that they are both more universal than they may seem at first glance: estate planning is not only for those with large estates […]