Long-term care in the United States is provided overwhelmingly by unpaid caregivers; researchers estimate the value of this unpaid caregiving at well over $196 billion per year. By contrast, paid caregiving costs the public and private sectors about $173 billion, more than a quarter of which is paid out-of-pocket by individuals and their families. …
Elder Law
The Dangers of Senior Financial Abuse
Senior financial abuse, a form of elder exploitation, is a growing concern in an aging society where financial vulnerabilities increase with age. This form of abuse not only jeopardizes the financial stability of older adults but also profoundly impacts their emotional and psychological well-being. Understanding the dangers of senior financial …
Proper Planning and Spousal Division of Assets
In a 60 Minutes episode, the show focused on individuals with frontotemporal dementia (FTD) and the negative results of such. It was difficult for me to watch when they had an example of a 50 year old husband had FTD. His condition deteriorated to a point where he had to be placed into an assisted living facility at age 50. It is likely that …
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8 Questions and Answers About Being an Agent Under a Power of Attorney
You have just been appointed as an agent, or "attorney-in-fact," under a durable power of attorney, a document that, for most people, is even more useful than a will. Your appointment allows you to act in place of the “principal” – the person executing the power of attorney -- for financial purposes when and if that person ever becomes …
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The Benefits of a Care Contract
Millions of Americans are currently caring for an elderly family member or friend at home, without receiving regular compensation. Depending on the circumstances, however, it may actually be beneficial for both parties to enter into a formal agreement called a care contract wherein the caregiver accepts payment for the care they are providing to …
