It often starts with the kids. They are worried about their aging parents and what will happen to the family house. Will it be lost to Medicaid should the parents need nursing home care or subject to estate taxes? The families’ well-intentioned solution: Place the deed in the children’s names. However, the parents don’t necessarily want to do …
Estate Planning and Probate
The Importance of Planning to Protect Your Assets from the Nursing Home
As individuals age, the possibility of requiring long-term care, such as nursing home services, become a reality for many. However, the rising costs associated with these services can pose a significant financial burden on individuals and their families. Therefore, it is crucial to plan ahead and take the necessary steps to protect one's assets …
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Be Prepared
Singer/songwriter John Mayer in his song, “Stop this Train,” wrote: I’m so scared of getting older I’m only good at being young So I play the numbers game To find a way to say my life has just begun Had a talk with my old man Said, “Help me understand” He said, “Turn 68, oh, you’ll renegotiate” The past few years and …
Having ‘The Talk’ With Aging Parents
Many families take this time of the year to address 'the elephant in the room'. After visiting with mom and dad many adult children decide it is time for family meeting to handle the health and safety concerns. Their parents physical or cognitive failings are a source of stress and concern. If you’re a baby boomer, you may already have had ‘the …
Planning for the Future: For People of All Ages
With the end of the year in sight, many of us have made New Year's Resolutions. You may have made a resolution to exercise more, spend more time with your family, or watch less TV. However, one resolution you should make and follow through on is to do some legal and financial planning. This is true regardless of your age or health status. Here …
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