Good, affordable medical care probably is what you think of first when considering how to care for this nation’s elderly. But, really, that’s only half of the equation. Sound, affordable legal advice is needed, too. Around the country, a handful of medical centers are partnering law students and practicing attorneys to care for the elderly… Read More »
Posts By Author: Christine WeinerPage 5
Beware the Risks of Reverse Mortgages
Originated in 1961 in Portland, Maine, reverse mortgages allow people 62 and older to borrow money against their home’s equity and not pay it back until they move out or die. And when President Ronald Reagan signed the FHA Reverse Mortgage bill into law in 1988, it signaled the true modern era of reverse mortgages…. Read More »
Having the Big (Financial) Talk with Parents
Your client’s parents have been there for their children all their lives. Now that they’re nearing retirement age, it’s time to return the favor — especially when it comes to their financial well-being. CNNMoney suggests families should talk about their elders’ finances when the parents turn 70 or the children turn 40 (http://tinyurl.com/3hp63tr). Other experts… Read More »
A Niche in “Modest” Families?
I recently read a New York Times article that explores the possibility of focusing a financial planning practice on what the author called “modest” retirement accounts. (http://tinyurl.com/av5lvw9) Of course, what quantifies as “modest” assets to one person could be seen as “great” wealth by another. For Baby Boomers, the market crash and recession couldn’t have… Read More »
Key to Stopping Family Fights on End of Life Issues: Be as Specific as Possible
One of the biggest challenges we have as advisors is making sure our client’s wishes are honored at the end of life issues. While simple on its face, there are two complexities we face in advising families. First, medical breakthroughs may provide tougher decisions for families to make. For example, will a new drug or… Read More »
Money Managers Cut Worry for Seniors
It’s tough enough for many adults to keep track of their bills, but it can be especially hard for those in their retirement years. Failing eyesight and hearing, coupled with arthritis-stricken hands and fading memory, can make keeping track of everything a Herculean task for many seniors. That is especially true if there are no… Read More »
Client Resolutions to Encourage: Spend Less, Save More and Pay Down Debt
Ah, the New Year. For many, it’s a time to look ahead and make plans for living better in the months and years ahead. It’s also an excellent time for your clients to take a sober look at what they can do to protect their money going forward into 2013. Forty-six percent of consumers are… Read More »
Your Client Could be Asked to Sign Arbitration Agreement by Nursing Home
It’s hard enough to make the decision that an elderly loved one must move into a nursing home. During admission, your client’s family is given stacks of papers — “Just sign here,” they are instructed— and, under stress already, many families sign without closely reading the documents. Increasingly, one of the papers nursing homes include… Read More »
Can Clients Really Be Billed for an Elderly Parent’s Nursing Home Care?
Did you know clients could be liable for their parents’ nursing home bills under a little known law on the books in most U.S. states? This summer, several news outlets picked up the story of a Pennsylvania man who was billed about $93,000 after his retired parents were injured in an auto accident and moved… Read More »
Should Your Clients Consider Giving Away Property Over Cash?
It’s decision time for clients who want to take advantage of the $5.12 million gift tax exemption that xpires at the end of this year. While cash is the most direct way to pass wealth to heirs, your clients might need that money at some point. If they’ve already given it away, it’s not very… Read More »