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Having your affairs in order before you die is a way to protect your family and heirs. A complete estate plan, however, should also contain tools that keep you safe as well if you become disabled or incapacitated. Comprehensive planning includes more than a will. The...
When you begin to notice a decline in an elderly relative's ability to take care of their own life and body, you may wonder what to do next. Talking to them about moving into a personal care home or a nursing home is often intimidating at first. By following a few...
Long-term care is usually most affordable for the extremely wealthy who have significant resources or the very poor who rely on their state's Medicaid benefits. However, middle-income people often deplete their savings or sell their homes to cover their care costs....
With long-term care costs averaging $12,000 to $14,000 per month, many seniors run out of savings to pay these expenses. In some cases, when parents are unable to pay long-term care costs, facilities may pursue their adult children for payment. Are you legally liable...
Age, illness or a combination of the two sometimes cause people physical or mental incapacity. If your elderly parent reaches such a point, you may consider stepping in to take control of his or her affairs. Although some things you will have the ability to handle...
Helping your parents plan for their future can involve different kinds of estate planning. You may want your parents to have a mechanism in place to provide for their long-term care. One option is to have your parents take out a long-term care insurance policy. Having...
With a special needs trust, you can breathe easier knowing that your special needs child will receive care even when you are no longer around to provide it. An important part of creating your trust is choosing a person or entity to manage the trust, also known as a...
Paying the decedent’s taxes and debts from the estate funds are part of the probate process in Pennsylvania. As noted by SmartAsset, certain heirs may incur an inheritance tax as a result of inheriting assets. Surviving spouses, however, have a “0” inheritance tax...
Estate planning, which means preparing for your future, can provide peace of mind and security. Despite this, only about 33% of Americans had any estate planning documents in 2021, according to Caring.com. There are many reasons why people might delay preparing for...
In addition to reviewing and covering costs associated with long-term care or living in a nursing home, you should go over other issues that affect many older adults, such as elder abuse. Neglect and abuse affect many older adults each year, and taking a look at...
