Across the country, assisted living costs an average of $4,401 monthly, increasing by 8 percent from 2021 to 2023. During this timeframe, average assisted living costs grew in 30 states, remained about the same in six states, and fell in 15 states.
If you are a homeowner who is falling behind on your real estate taxes, you may end up facing foreclosure on your property. Because your property taxes hinge on the value of your property, you may find your taxes rising beyond what you can afford. Before your situation becomes more serious, be su...
Amid recent reports from such prominent news outlets as The New York Times and Associated Press about the negative impact of Medicaid estate recovery on families, the idea of ending this practice altogether has resurfaced.
A bill is floating in Congress to change the formula used to calculate Social Security benefits for older adults. If passed it would mean bigger payouts for seniors.
The end of a marriage often changes your desires and expectations for retirement, as well as long-term care and estate planning. After a gray divorce, it’s a good idea to take steps to update your estate plan.
Among your key estate planning documents are your trust, will, living wills, powers of attorney, and medical directives. Securing these somewhere your survivors can easily access them is crucial. Consider storing other information, like birth certificates, marriage licenses, and medical records, in a secure spot as well.
Small business owners have one more item on their compliance to-do list owing to the new Corporate Transparency Act (CTA).
No matter what your family dynamic, relationships between generations can come with trust issues and a lack of communication. More than ever, high-net-worth people try to foolproof the assets their children will inherit through trusts, charities, and foundations. Often, they'll collaborate with estate planning attorneys as well as investment or financial advisors to accomplish this.
With recent technological advancements, artificial intelligence can now generate many types of content – including obituaries. In some instances, AI-generated content may be a helpful tool for friends and family members struggling with the emotional process of creating a written tribute, but AI also presents some peculiar and even disturbing problems.
As April marks Financial Literacy Month, it is an excellent time to start improving your financial literacy. Gaining financial savvy can help you handle the challenges and complexities of aging.
The Center for Medicare and Medicaid Services (CMS) finalized its rule regarding prior authorizations earlier this month. The rule, published in February 2024, outlines new timetables and requirements under which health insurers must process prior authorization requests.
Knowing what you can expect to pay for long-term care services is important for older adults and their families. However, as you plan for the future, you may worry that budgeting and saving for long-term care will pose a serious challenge.
If you are planning to apply for Medicaid, you might not realize that you should think twice before transferring any of your assets.
Most matters the probate courts handle, like admitting wills and assigning executors, are standard operating procedures and go uncontested. However, legal contests arising from a person’s death or mental capacity may lead to probate litigation over powers of attorney, will and trust contests, guardianships, and living wills.
You might be tempted to download a free form to take care of it when looking for services online. But will that be enough to ensure the document is legally recognized, important matters are handled quickly, and your specific instructions are followed?
This statistic reflects a common misconception about estate planning: that it is only for the wealthy.
As they grow older, your parents may prefer to continue living in their home rather than moving to a long-term care facility. They are not alone in this; more than three-quarters of adults over the age of 50 say they would prefer to age in place. If your parent can safely live at home on their ow...
Even if you have a long-term care insurance policy, you may likely be hoping that you won't ever have reason to use it. Regardless of what the future holds, there's one silver lining of which you may not be aware. That is, premiums on many long-term care insurance policies are in fact tax-deducti...
To raise awareness of this issue, WalletHub evaluated elder abuse protections in the 50 states and the District of Columbia.
You may not foresee yourself applying for Medicaid in the future. Yet in reality, research shows that roughly one in seven seniors are likely to require long-term care at some point later in life. Long-term care can be extremely costly; this is why many people have come to rely on the Medicaid benefits that cover these costs.
Whether you are an executor or an heir of the probate estate, knowing the probate lawyer’s role is essential. Consider it one of the first steps you should take at the beginning of the probate process. One of the biggest sources of conflict in probating an estate is understanding the role of the probate attorney.
Everyone should have a will, whether or not your estate includes a trust.
About four times per year I am contacted by an individual who found himself or herself unintentionally disinherited by a deceased parent. It is very sad when that happens because more often than not there is absolutely nothing that can be done to repair the situation because what happened was perfectly "legal".
According to the National Institutes of Health (NIH), hearing loss affects one-third of older adults. As difficulty hearing can lead to communication challenges and social withdrawal, it can also increase the risk of dementia. Dementia includes diseases affecting memory, thinking, and the ability to perform daily activities and affects 55 million people worldwide, per the World Health Organization.
An Alzheimer’s or dementia diagnosis can be a challenging journey for the person and family alike. When the diagnosis occurs, a ticking clock begins on the timeline for getting proper and sound notarizations done for crucial legal documents.
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