Although owning property with family may let you pass on the asset without going through probate, there are several risks, including taxes, creditor exposure, and loss of control. So when dealing with property, it is important to consider these risks…
When the US federal government established its social insurance program on August 14, 1935, its purpose was to provide retirement, disability, and survivors’ benefits. Since that time, in part due to the disappearance of extended family networks, an increase in…
Aging is something you cannot escape, and it affects all family systems. It can be challenging for adult children to imagine their parents as seniors and to understand and respond to the reality that each parent will age differently. Even…
One cannot overstate the importance of family presence in a senior’s life. Family creates a consistent social network and connection that directly impacts the senior’s overall quality of life. Prioritizing family relationships provides continuity as a senior experiences change in…
Your grandfather, Steven, can no longer make decisions on his own. A court appoints you to be Steven’s guardian of property, to help Steven manage his money. You become Steven’s “fiduciary.” The law now requires you to act to a…
When policymakers consider the costs of dementias like Alzheimer’s disease, they consider both direct and indirect costs. Direct costs, in this instance, are the medical and social/non-medical care costs related to dementia; on average, expenses included $273 per month spent…
In the largest ever nationwide elder fraud sweep the US Department of Justice (DOJ) has identified more than 260 defendants in fraud accounting for more than 750 million dollars. In each case, the defendants allegedly engaged in financial tactics that…
Elder financial abuse has been a growing problem of the past decade. The financial exploitation of older or vulnerable adults can take many different forms. This portion of the population can be exploited by strangers of professionals who deal with…
Women and Retirement For women, securing enough retirement income can be a daunting proposition. Generally speaking, women face two significant hurdles to overcome to achieve a comfortable flow of retirement income. One hurdle involves longevity, and the second deals with…
