In general, a trust is created when property or assets are managed by a person or firm for another person’s benefit. The person or entity who manages the trust is known as the “trustee” and is entrusted with the responsibility of making decisions in the best interest of the person who benefits from the trust, [...]
When it comes to creating Wills, Trusts and estate plans, older Americans outpace their younger counterparts. We are the baby boomer generation. Still, a significant number — 19 percent of those over age 72 and 42 percent of those between 53 and 71, according to survey data — lack any type of estate plan. This [...]
Trusts aren’t just for the mega-wealthy. They can serve you and your family as well, especially if you have hard earned assets that you wish to Protect and Preserve for your loved ones. You want to avoid the expenses and delays of probate court, maybe the tax-man, financial creditors and predators or the $15,000.00 per [...]
You may see it coming: Much as you want to and hard as you try, you just can’t take care of your ill spouse at home any more. At this emotionally difficult time, the last thing you need is the stress of not knowing where to find the money to pay for the steep costs [...]
A family caregiving meeting is an essential tool when dealing with the care of an aging loved one. These meetings are beneficial for helping to keep all family members abreast of decisions that need to be made, changes in diagnosis or prognosis, and help to ensure that all family members feel that they have a [...]
The Senior Safe Act, signed into law by President Trump earlier this year, is designed to protect our elders from financial abuse from either within a family or support system, or by scam artists preying upon them. Tens of billions of dollars each year are illegally taken from US seniors and these numbers only reflect [...]
The holidays are upon us and unfortunately many seniors feel even more isolated during this time. Thankfully, technology has provided some interactive gadgets to help lessen feelings of isolation. One of those gadgets, called the GrandPad, is discussed below. The internet is an excellent way for people of all ages to connect with family and [...]
Nursing home evictions are an issue for many elderly people. Reports of evictions and complaints against nursing homes attempting to evict patients are widespread. Nursing homes are businesses and eviction problems often occur for residents when financial issues arise. There are federal regulations concerning nursing home evictions. However, it is largely dependent on the state [...]
When we think of shopping, there are certain risks that are always a possibility. Unfortunately, seniors are often more vulnerable to these risks. The holiday season often brings with it criminals who are targeting shoppers, both in stores and online. Below are some tips to help senior shoppers stay safe whether shopping with mobility issues, [...]
Disability Planning is one of the most overlooked areas in Estate Planning. You will likely become disabled and incapacitated before Mother Theresa calls you to the Pearly Gates of Heaven. When you do not have the newer updated Disability Planning documents in place your affairs can end up in expensive and stressful Probate Court proceedings [...]