The Social Security trustees are projecting that due to the economic downturn caused by the pandemic the Social Security trust fund will be depleted in 2033 — one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will be reduced unless Continue reading
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.
In a life Continue reading
When interest rates are low, intrafamily loans can be a good way to assist a relative (typically a child) with purchasing a house or a family business, and in certain circumstances they can be used to gift money to the next generation.
An intrafamily loan allows family members to Continue reading
Britney Spears’s legal fight to wrest back control over her personal and financial affairs has flooded the issue of guardianship in Klieg lights. While a full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, Continue reading
President Biden has introduced a plan to spend $400 billion over eight years on home and community-based care for the elderly and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs.
As the elderly population grows, our Continue reading
A growing problem with adult guardianship abuse is giving rise to calls for reform of the system. Vulnerable elderly can get caught in the guardianship system, being harmed and exploited by the very process that is supposed to protect them.
A guardian is someone appointed by a court Continue reading
Just before the end of 2019, Congress passed and the President signed a spending bill that includes significant changes to retirement savings accounts. Known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, this legislation changes rules around retirement Continue reading
The older you get, the harder it is to qualify for long-term care insurance. If you are interested in buying this insurance, it is better to act sooner rather than later. Many people put off purchasing long-term care insurance until they need it, but by then, it may be too late. Not Continue reading
While a Will is one of the most important Estate Planning documents you can have, there are things that it won’t cover. A Will is just one part of a comprehensive Estate Plan. A Will is a legally-binding statement directing who will receive your property at your death. It is also Continue reading
Our last elder advice post for elder law month has sadly come. Hope everyone has enjoyed the information & that it is useful to you & your loved ones.
The federal government has expanded access to protections for spouses of reverse mortgage holders who are not named in the loan document, Continue reading