Elder financial abuse is a significant issue affecting many older adults nationwide. It involves someone exploiting or misusing an older person’s finances or assets for personal gain. Often, the perpetrator is in a position of trust, such as a family member, abusive partner, or paid caregiver.
The challenges of providing quality care to an ever-larger senior population are numerous. Policy changes, investments in the health care workforce, technological advancements, and more may all be necessary. To ensure you have a plan in place for your care, connect with your elder law attorney sooner rather than later.
Cost and health considerations have led to a push for expanded coverage of weight loss drugs under public and private health insurance plans. While Medicare is forbidden to cover weight loss drugs, it can cover certain medications, including Ozempic and Wegovy, when they’re prescribed to treat conditions other than weight loss.
Your parent may or may not have prepared for his or her elder years with a durable financial and medical power of attorney. If not, a guardianship or conservatorship may be necessary to protect your parent's best interests.
Wills and trusts are foundational estate planning tools. While each is used to distribute assets to beneficiaries, they do so in different ways. Each also has its own distinct uses and advantages. They’re often used together to close gaps in an estate plan and prepare for multiple scenarios that might otherwise cause unexpected burdens for heirs.
Today, an increasing number of people are planning their own funerals or memorial services. They may also designate their funeral preferences in detail and sometimes even pay for funeral ceremony in advance.
When a loved one passes away, it’s important to obtain several certified copies of the death certificate. This document is necessary to handle the financial and legal affairs of the deceased person.
Joint bank accounts serve as a useful estate planning tool for passing money to loved ones outside of probate and planning for disability. But while they can achieve these goals, and are useful in certain circumstances, joint accounts also present risks.
Across the country, assisted living costs an average of $4,401 monthly, increasing by 8 percent from 2021 to 2023. During this timeframe, average assisted living costs grew in 30 states, remained about the same in six states, and fell in 15 states.
If you are a homeowner who is falling behind on your real estate taxes, you may end up facing foreclosure on your property. Because your property taxes hinge on the value of your property, you may find your taxes rising beyond what you can afford. Before your situation becomes more serious, be su...
Amid recent reports from such prominent news outlets as The New York Times and Associated Press about the negative impact of Medicaid estate recovery on families, the idea of ending this practice altogether has resurfaced.
A bill is floating in Congress to change the formula used to calculate Social Security benefits for older adults. If passed it would mean bigger payouts for seniors.
The end of a marriage often changes your desires and expectations for retirement, as well as long-term care and estate planning. After a gray divorce, it’s a good idea to take steps to update your estate plan.
Among your key estate planning documents are your trust, will, living wills, powers of attorney, and medical directives. Securing these somewhere your survivors can easily access them is crucial. Consider storing other information, like birth certificates, marriage licenses, and medical records, in a secure spot as well.
Small business owners have one more item on their compliance to-do list owing to the new Corporate Transparency Act (CTA).
No matter what your family dynamic, relationships between generations can come with trust issues and a lack of communication. More than ever, high-net-worth people try to foolproof the assets their children will inherit through trusts, charities, and foundations. Often, they'll collaborate with estate planning attorneys as well as investment or financial advisors to accomplish this.
With recent technological advancements, artificial intelligence can now generate many types of content – including obituaries. In some instances, AI-generated content may be a helpful tool for friends and family members struggling with the emotional process of creating a written tribute, but AI also presents some peculiar and even disturbing problems.
As April marks Financial Literacy Month, it is an excellent time to start improving your financial literacy. Gaining financial savvy can help you handle the challenges and complexities of aging.
The Center for Medicare and Medicaid Services (CMS) finalized its rule regarding prior authorizations earlier this month. The rule, published in February 2024, outlines new timetables and requirements under which health insurers must process prior authorization requests.
Knowing what you can expect to pay for long-term care services is important for older adults and their families. However, as you plan for the future, you may worry that budgeting and saving for long-term care will pose a serious challenge.
If you are planning to apply for Medicaid, you might not realize that you should think twice before transferring any of your assets.
Most matters the probate courts handle, like admitting wills and assigning executors, are standard operating procedures and go uncontested. However, legal contests arising from a person’s death or mental capacity may lead to probate litigation over powers of attorney, will and trust contests, guardianships, and living wills.
You might be tempted to download a free form to take care of it when looking for services online. But will that be enough to ensure the document is legally recognized, important matters are handled quickly, and your specific instructions are followed?
This statistic reflects a common misconception about estate planning: that it is only for the wealthy.
As they grow older, your parents may prefer to continue living in their home rather than moving to a long-term care facility. They are not alone in this; more than three-quarters of adults over the age of 50 say they would prefer to age in place. If your parent can safely live at home on their ow...
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