Right now, people are understandably concerned about their health and the health of their loved ones. When a crisis comes, people want to know that they and the people they care about will be taken care of if they are unable to make their own healthcare decisions. It’s for these types of emergencies that you should consider a healthcare proxy. Continue reading “Is a Healthcare Proxy Right for You?”
Barbara Elaine Smith, more commonly known as B. Smith, passed away at the age of 70 after an eight-year struggle with Early Onset Alzheimer’s Disease. B. Smith was a renowned lifestyle guru, who, among other things, modeled, owned restaurants, designed decorations and authored several cookbooks. She also wrote a book on her Alzheimer’s Disease, titled Before I Forget, with her husband Dan Gatsby, which was published in 2016. Continue reading “Lifestyle Guru B. Smith Dies from Early Onset Alzheimer’s Disease”
The “Setting Every Community Up for Retirement Enhancement” Act (SECURE Act) was signed into law this past December, and it has potential ramifications for anyone who has a retirement account. In particular, it will have significant ramifications for anyone engaged in estate planning whose retirement accounts may disburse payments after they have passed away. As such, anyone trying to plan their estate with a retirement account should be aware of the impact the law might have on you and your loved ones. Continue reading “SECURE Act Could Have Major Impact on Your Retirement Account”
You may have seen television commercials advertising reverse mortgages, telling you about the financial rewards that can come from taking a reverse mortgage on your home. While it can theoretically result in additional money in your pocket, at least in the short term, it’s important not to mistake it for a financial windfall. You should be aware of the perils of a reverse mortgage before you take one out on your home. Continue reading “The Perils of a Reverse Mortgage”
Estate planning is an important task for anyone advancing in years, especially for anyone with a large amount of property that will need to be allocated after your demise. But what do you need to consider when you’re planning your estate? What can you do to avoid catastrophe when the worst comes to pass? Well, here’s five questions to ask yourself when you’re planning your estate. Continue reading “Five Things to Consider When Planning Your Estate”
If you have family members that are growing older or have a loved one with diminished ability to care for themselves, you may need to consider a power of attorney. But what is a power of attorney? And when is it appropriate to consider for yourself or your loved ones? Continue reading “When to Consider a Power of Attorney”
If you or a loved one are advancing in age, or if your health is deteriorating, it may be wise to investigate the possibility of advance directives. Broadly speaking, advance directives are legal documents that convey your desires, if you are incapable of making those desires known yourself. The term “advance directives” generally covers four kinds of documents: living wills, health care proxies, powers of attorney, and Do Not Resuscitate orders (DNRs). Continue reading “Considering Advance Directives”
Chances are that, at some point in your life, you’ve heard of a “guardian” before, especially in the context of children, or older relatives, or people with certain disabilities. However, you might not know what a guardian is, or why someone might have one. Fortunately, the idea is easy to understand, and it’s good to know about just in case you, or someone you know, has a guardian appointed for them. Continue reading “What is a Guardianship?”
The U.S. Census Bureau is predicting that, by 2035, there will be more people over the age of 65 than children under the age of 18 in the United States. This would be the first time in United States history that the elderly has outnumbered children resulting from multiple ongoing trends, such as longer life spans among the elderly and declining birth rates among millennials. This means that the need for elder law attorneys, and other people who specifically deal with issues related to the elderly, will become more important than ever.
As Americans grow older and with a majority of the older population now entering retirement, the need for income sufficient to cover expenses becomes greater. While there are programs such as Medicare, Medicaid, Social Security, and Supplemental Security Income, that help seniors with income and healthcare, those programs may not be enough for some individuals to pay for their monthly expenses or healthcare costs. There is another option that is available to many Americans over the age of 62, such as a reverse mortgage.
Continue reading “What is a Reverse Mortgage?”