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 »Related Articles
Which is Better: Individual Long-Term Care Insurance or Group Plans?
More and more companies are beginning to offer long-term care insurance (LTCI) to their employees as part of an overall health care benefits package. And since buying group medical insurance is usually a way to get lower insurance rates, most people automatically assume that the same is true with LTCI policies. However, in most cases individual LTCI policies will be able to offer not only lower premiums, but also better benefits if they are examined in a true “apples...Read the rest of this article »Related Articles
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 »Related Articles
When Should You Consider Buying Long-Term Care Insurance?
The short answer to this question is: the month before you need to make a claim! But since none of us have a crystal ball to tell us when we will be having a stroke or heart attack, or be diagnosed with a debilitating disease such as multiple sclerosis, Parkinson's or Alzheimer's, we simply can't rely on waiting till the last minute to buy long-term care insuranceThe truth is that anyone, at any age, can have an unexpected accident...Read the rest of this article »Related Articles
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