- Advanced Planning
- Elder Abuse
- Elder Law
- Living Wills
- Long-term Care Insurance (LTCI)
- Medicare & Medicaid
- Powers of Attorney
- Reverse Mortgages
How to Pay for Long-term Care without Breaking the Bank
Meeting increased elder care costs requires making hard decisions and taking a judicious and strategic look at your financial options. These decisions are often fraught with conflicting emotional concerns. I recommend you incorporate a careful and objective cost-benefit analysis of all the variables. Be aware of the potential consequences of every decision you make—not just the financial consequences, but the personal ones. Being knowledgeable about the issues and pitfalls can help you avoid undesirable surprises that cannot be rectified (e.g.,...Read the rest of this article »
What’s in Your Parent’s Wallet? (And What That Means for You)
Taking stock of your elderly parent’s financial situation usually requires initiating a potentially uncomfortable discussion—money matters are a touchy subject, especially when family comes into play. Elderly parents are often reluctant to share control of their finances. It may be simply that they just don’t know the details surrounding the state of their finances. No matter what the situation, try to include your parents in managing their finances. Eliminating their involvement may prove to be psychologically debilitating to them, as...Read the rest of this article »
Financial Planning for the Elderly: Assisting Clients & Their Caregivers
It’s no surprise that with age, seniors often experience increased limitations, the loss of certain abilities and require more assistance with the activities of daily living. It is equally unsurprising that one’s finances largely influence the types of services and long-term care available to that individual. An experienced financial planner for the elderly can provide seniors and their families with invaluable advice on money issues and more, to help seniors find the appropriate solution to their particular situation. Some...Read the rest of this article »
Preparing for the High Cost of Long-Term Care
In a recent survey conducted by AARP, the findings showed that there is a clear disconnect between what most people think long-term care costs and the actual cost of care itself. In fact, after surveying 1,456 people over the age of 45, only one in 12 came within 20% of estimating long-term care costs accurately. Most felt that only $500–1000 a month would do the trick nicely. I find a similar unrealistic outlook when I work with folks and...Read the rest of this article »
