Monthly Archives: November 2020

You may be asked to be power of attorney for a family member or friend. Your person may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and they would need a trusted person to step in and manage for them. This …

Continue reading “Can You Trust Your Executor, Personal Representative or Trustee?”

As coronavirus cases continue to spike throughout the country, holiday travel and visitation hopes are on a collision course with COVID-19 and public health safety. The holiday season is here.  Senior living communities and long-term care facilities and their operators are struggling with the implications that ‘holiday leave’ could have on older adults’ wellbeing in …

Continue reading “Senior Living Facilities, Resident Holiday Celebration, and ‘Leave’”

As Americans look ahead to a Biden Harris Administration, noting the President-elect’s tax plan is crucial for higher-income households to understand and likely make adjustments to their financial and legacy planning. Generally speaking, the sweeping changes to the tax code will aim to levy higher taxes on corporations and high-income households. It will also overhaul …

Continue reading “Big Tax Increases and Loss of Capital Gains Tax benefits under Biden Tax Reform?”

President Ronald Reagan designated November as National Alzheimer’s Disease Awareness Month back in 1983. The goal is to raise awareness about the disease and its prevalence among the US population and provide potential caregiving suggestions, links to organizations that can help, and raise money to find a cure. Alzheimer’s is a neurological disease, is not …

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Routine estimates predict that about 50 percent of older adults will require long-term care at some stage of their lives. If you are an adult 65 or more, the percentage moves up to 70 percent. However, the demand for long-term care far outnumbers an affordable or even existing supply. For years the private sector long-term …

Continue reading “The Coming Collapse of Long-Term Care Health Insurance”

This November is National Family Caregiver Support Month. Even if you are not a family caregiver, you probably know someone who is. Millions of Americans are willing to provide varying support levels to older relatives and even friends. Support can take on many forms, like helping with financial or legal issues. Some family caregivers tend …

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Many adult children in the US live far away from their parents. Managing aging parents or in-law medical events can be a serious challenge without proper preparation and understanding of what your parents’ strategy may or may not be, no matter where you live. Do you know what legal documentation your parents have in place …

Continue reading “Know Your Parents’ Aging Strategies Before a Medical Crisis Hits”

Your Will is Your Admission Ticket to Probate Court? YES, read on because you will learn a lot! With legal fees costing as much as 5% of the gross value of your estate and probate process taking almost two years on average it could cost $50,000.00 on a one million dollar estate (which includes your …

Continue reading “Your Will is Your Admission Ticket to Probate Court?”

The Social Security Administration (SSA) publishes upcoming changes to its social security program every October that take effect on January 1 of the next year. These changes can make a difference in how you plan for or live during your retirement years. It is good practice to create what is known as a “mySocial Security” account …

Continue reading “Six Social Security Changes Taking Effect on January 1, 2021”