Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if an attentive financial advisor hadn't noticed the large IRA distributions that were allegedly stolen right from under a matriarch’s nose.
Unfortunately, over a decade, the number of observation stays has increased exponentially and is being used, even when patients have a diagnosis and have been admitted by their own physicians.
Without a proper elder law estate plan, the children’s responsibilities are even more exhausting, stressful and sad.
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
A majority of people don’t know the standard benefits they could be receiving, according to a SimplyWise survey that found less than one in eight Americans aged 60 to 70 saw themselves as “very knowledgeable” on the subject.
An Advance Directive/Living Will is that type of document. It provides authorization for the termination of life support. It is a document that only you can sign – you cannot delegate the power to make that decision.
Medicare is a crucial part of retirement, yet 72% of Americans say they wish they better understood how the program works, according to a survey from Nationwide.
A power of attorney names a person who can act on your behalf. This person is called your “agent” or “attorney-in-fact.” Before you create a power of attorney, you should know your options and which ones your home state allows.
