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A power of attorney is among one of the most important incapacity planning documents you can have. It designates someone you trust with taking care of your affairs if you become unable to do so.

Many older Americans choose to have their family members care for them as they age. Despite the comfort a familiar face may provide, there is a significant cost for the loved ones who sacrifice their time, and often their upward economic mobility, to ensure that they can secure proper care for their senior parent.

Hospice care is a type of health care that patients with terminally ill conditions rely on at the end of their lives. This type of care focuses on pain management and emotional, spiritual, and familial support for patients nearing the end of their lives.

Seniors who need assistance with everyday activities such as dressing, bathing, and eating are eligible for Medicaid Long-Term Services and Supports (LTSS). Unfortunately, hundreds of thousands of people who qualify for these services – but wish to receive them in their homes or a community setting – end up on extended waiting lists.

Using survey data from more than 8,000 adults aged 65 and older, researchers have identified eight social factors that may lead to early death in older adults.

People create wills to establish what happens to their money and assets when they pass away. In these estate planning documents, they can name beneficiaries – individuals who will receive money, other assets, or specific bequests like sentimental items upon the person’s death.

When you assume the role of the health care agent of a loved one, you make crucial medical decisions for that person. If your loved one becomes incapacitated and cannot communicate with health care providers, you are responsible for ensuring health care providers respect your loved one's preferences for care.

Depending on your state, Medicaid may cover part of the cost of self-measured blood pressure.

Once your will goes through probate, it becomes a public record. The probate court must maintain the will so that the public can access it.

It is easy to burn out when you are responsible for providing full-time care to an aging or disabled loved one. In some cases, caregiver burnout can result in resentment toward the individual they care for, despite their love for them.

One aspect of your estate plan that you may not yet have taken into consideration is your digital legacy. Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of financial literacy — and comprehensive estate planning.

Taking on the responsibility of providing full-time care for an aging or disabled loved one can be a rewarding experience. Being a primary caregiver helps you rest assured that your loved one is receiving compassionate care from someone who will go above and beyond to ensure they are comfortable and looked after.

Many adult children wonder what their aging parents may need and how can they can help provide it for them. You may constantly worry about your parents or other older loved ones, especially if you live far away from them. You can, however, take some simple steps to ensure your parents are safe as they age.

An executrix is a female executor. Trix is a Latin suffix designating a female agent, whereas the Latin suffix tor identifies a male actor, per Collins Dictionary.

A qualified personal residence trust (QPRT) is an irrevocable trust used to achieve estate and gift tax savings. The basic idea behind a QPRT is to transfer the equity in a qualified residence out of a person’s estate and to his or her heirs while reaping lower transfer tax consequences.

Estate planning, or legacy planning, entails preparing your affairs for the future, including death and other life events. While older adults might give more thought to estate planning, it is an essential tool at any age.

Choosing an executor is a big decision when it comes to estate planning. So, what should I know about being an executor? What should I consider before naming an executor? Here are answers to three common questions about executors.

It is an unpleasant thought, but death is a reality we all must face. One way to cope with the loss of a loved one is to be prepared for their final send-off. Funerals are expensive. For Medicaid recipients and their families, it is unlikely they will have the money to cover them when the time comes.

A power of attorney (POA) is a legal agreement that gives a person (agent or attorney in fact) the ability to act on behalf of another person (principal). A common question asked about POAs is under what circumstances a person can override them.

The debate among lawmakers on further expanding Medicaid in some 11 states continues to evolve. Depending on where you reside, passage of such an expansion could mean you become newly eligible for Medicaid.

The person you name as your executor will be accountable for a number of important tasks, even in managing the administration of a small estate. This may include filing tax returns, keeping meticulous records, and distributing assets to your beneficiaries. At the same time, there are rules about what the person in this role is not permitted to do.

When it comes to filing your 2022 federal tax return for the 2023 tax season, you may be able to access several forms of assistance for free.

As we near retirement, we may assume that once Medicare kicks in, our medical insurance premiums will be fixed. However, many people may not realize that there are special rules regarding how much they pay for Medicare Parts B and D if they are in a higher income range.

A health savings account may help you save money on medical expenses, depending on your insurance type. If you are eligible, you can use your health savings account (HSA) to cover certain medical costs.

Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.