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We are living through what’s been called the largest intergenerational wealth transfer in history. Tens of trillions of dollars are set to change hands between older and younger Americans over the next 20 years. More and more elders are choosing to pass on their wealth to heirs while they’re still alive. The growing popularity of… Continue reading Gift of Home Equity: What It Is and How it Works

For older adults seeking long-term care services, finding the help they need can pose significant challenges. One major reason for this is a lack of available labor in this field. New bipartisan legislation may have an answer. Nationwide Staffing Shortage An ongoing, critical shortage of nursing home and assisted living workers – in part, made… Continue reading New Bill Targets Growing the Long-Term Caregiving Workforce

Advances in self-monitoring medical devices, telehealth, and smart homes are allowing many aging Americans to remain at home longer and more safely. You may be a senior looking to stay in your current residence rather than move to a nursing home. Or perhaps you have an aging parent and want to implement systems that create… Continue reading In-Home Senior Care Technology and Elder Law

Do you have a family member who is receiving some form of long-term care? If you don’t, the chances are good that someday you will – and that day may not be too far away. As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for… Continue reading The Costs of the Rising Cost of Long-Term Care

Your living will doesn’t pass assets and property to your heirs like a standard will and testament. Instead, it advises your doctors and family about how you want to receive medical care and may limit certain treatments. This document can bring your family comfort in times of uncertainty, knowing they understand your health care wishes.… Continue reading 7 Things to Know About Living Wills

Today, 16 percent of children in the United States live in blended families, according to U.S. Census data. This can include those living in households that have a stepparent, stepsibling, or half-sibling. In many cases, stepchildren receive the same treatment as full biological children in the case of inheritance. This is particularly true where stepchildren are part… Continue reading Blended Families and Wills in Estate Planning

Whether your child is graduating with their high school diploma or completing higher education, it’s important to help them plan for their financial future. You want to set a strong foundation for long-term financial stability by broadening their scope of financial literacy. Sharing the following tips can help prepare them. Budgeting Expectations and Boundaries Less… Continue reading High School Graduation: A Good Time for Financial Planning

Probate is the legal process of formally recognizing a will after a person dies, naming or validating an executor to administer the estate, and distributing assets to intended beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has different laws determining whether probate is necessary. Sometimes it is possible… Continue reading Probate Process: A General Timeline

Deciding to end a marriage as an older adult is increasingly common. If your marriage ended later in life, you could be part of the “gray” divorce trend. AARP reports that Baby Boomers, those born between 1946 and 1964, are the generation with the highest divorce rates. Divorce among older adults in the United States has… Continue reading 5 Ways to Update Your Estate Plan After a “Gray” Divorce

The most recent data from the National Center for Health Statistics (NCHS) indicates more than 3,400,000 deaths in the United States in 2021. When someone dies, the local government issues a formal document known as a death certificate. The death certificate provides the date, location, and cause of death. Most state forms follow the Centers for Disease… Continue reading How to Get a Death Certificate After a Loved One Dies