When you have a child with special needs, you have many financial matters to consider, such as how to include the expenses of supporting your child after you are no longer working. According to Forbes, it is a mistake for parents only to create a special needs estate plan or a life insurance trust to cover their child’s future expenses, focusing on what their child will need after they are no longer around to provide Read More

When the time comes that you need to leave your home and live in a facility, it is a good idea that you have a plan in place. Being able to choose your own nursing home gives you control over the situation and enables you to ensure no matter what that your wishes are known. The National Institute on Aging explains that you have to do your research when it comes to choosing an extended care institution. Narrow down Read More

Proving neglect or abuse against an elder is not always an easy task. However, if you suspect there is something happening, then you should do everything possible to report it and get the person help. The Georgia Department of Human Services explains the state defines elder abuse as including financial exploitation. Financial exploitation When an elder is undergoing financial abuse, he or she may not be aware of what Read More

If you are assisting an elderly loved one, such as a parent, with his or her estate, then one tool worth considering is a trust. Some elderly individuals may gravitate towards an irrevocable trust, but it is better for them if they stick with revocable trusts. U.S. News and World Report explains that revocable trusts can protect the elderly the best and may even help to discourage elder abuse. Protection One of the Read More

Parents of special needs children often have to make special considerations for the lifelong financial care of their children. Even when parents enjoy excellent financial instability, they may choose to put some safeguards in place, in case the situation ever changes. CNBC explains that ABLE accounts allow special needs persons and their families to set money aside. It operates as a tax-advantaged account and Read More

Estate plans provide a number of benefits, such as peace of mind and financial security later on. However, failure to create an estate plan properly often leads to repercussions after one dies. For example, fights and disputes within a family are common, and there are many other ways in which loved ones suffer while trying to deal with an ineffective estate plan.  Unfortunately, some people do not realize how crucial Read More

When someone asks you if you’ve taken care of your estate planning, do you respond with an answer like, “No, I don’t have much of an estate to plan with so it’s not necessary,” or “Oh yeah, I got my will done already”? If the answer is yes, you’re certainly not alone, but it may mean that you don’t fully understand what exactly estate planning is or why it’s so important.  Estate planning is all about answering one Read More

Every family is different, and most have vulnerabilities that strain or even sever relationships. A parent may not trust a son- or daughter-in-law; siblings can fight every time they are in the same room; extended family members could be estranged. These dynamics can cause conflict when someone passes away or becomes incapacitated. Parties can clash over decision-making or contest a will, making an already painful Read More

According to the Centers for Disease Control and Prevention, there were 1.7 million licensed nursing home beds in the U.S. as of 2016. The people occupying these beds expect the care provided to them to be the highest quality possible, to prevent injuries, disease, and other significant threats. If you currently have a loved one in a nursing home, you also share in this sentiment. Unfortunately, not all nursing Read More

As you or your parents grow older, you will likely need increased care in order to maintain a healthy and happy life. While many people receive their care from a nursing home, Medicaid offers an option that allows some elderly people to remain in the comfort of their own homes: the Community Care Services Program (CCSP). What is the Community Care Services Program? The CCSP is a program designed to offer Medicaid Read More