Every estate plan should have a power of attorney, in which you give one or more people authority to act as agents on your behalf, when you aren’t able to. Every estate planner and guide to estate planning will tell you that. What few will tell you is there are at least two important instances when the power of attorney (POA) won’t be recognized and followed.
Medicare is designed to help pay for healthcare costs for seniors once they turn 65. While it covers a number of healthcare expenses, it doesn’t apply to costs associated with long-term care in a nursing home.
No one wants a nursing home but the longer we live, the higher the chance we may need a nursing home at the end of life.
The steady drone of coronavirus news these past nine months has spurred countless older Americans to face a long-procrastinated task: writing—or rewriting—their wills.
It is critical that parents and grandparents give careful thought to any gift of money or bequest in an estate plan, when the recipient has special needs.
If you are the parent of a person with special needs, you are well aware that the role you play is very different than it may be for other children. Properly planning to meet their financial needs, both in the immediate and long term, is a critical part of supporting your child. This support must often continue well past the typical age of adulthood, which means parents need to put in place financial tools to care for their children, in the event of the parents’ death.
Many people focus on only protecting their estate from probate. However, in the big picture, probate is the least of their worries.
September is the most common birth month of the year. It’s also a good time for new parents to think about the financial side of their parental responsibilities.
The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
One in four American adults live with a disability, according to the Center for Disease Control. One in 10 adults over the age of 65 has Alzheimer’s or dementia, according to the Alzheimer’s Association.
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