Q. My parents are in their 70’s and I am a caregiver for them, while working part-time and raising a family. My father has had Parkinson’s for fifteen years and is no longer mobile. My mother is in the early stages of Alzheimer’s. As much as I love them dearly, it is becoming a real […]
Virginia Becomes First State to Approve ABLE Act
Virginia Governor Terry McAuliffe Signs ABLE Act into Law (Source: NBC 29) Q. Our son, Jeff, has autism spectrum disorder and will likely need assistance throughout his lifetime. We are looking for ways to save for his future without jeopardizing his eligibility for Social Security and other government programs. I read about the ABLE act, and how […]
Strong or Vulnerable? Social Security in its 80th Year
For 80 years, Social Security has been protecting American families from both expected and unexpected challenges. Last week, the Social Security Board of Trustees released its annual report to Congress, which projects that Social Security’s condition isn’t as troubling as many think. The 2015 report presents an honest, open discussion about the value of Social […]
What Happens When Caregivers Are Too Sick To Perform Their Duties?
Q. I am a caregiver for my husband, Ed, who has had Parkinson’s disease for fifteen years. While fully coherent, his physical capabilities have been greatly reduced. Confined mainly to a wheelchair, he requires my help to dress, shower, toilet, walk, and exercise, and has trouble communicating and swallowing food. Normal routine has set in, […]
Virginia’s New Privacy Expectation Afterlife and Choices Act Protects Digital Assets
Picture from Huffington Post. Kathleen’s sister, Marie, was very tech savvy and enjoyed all that social media has to offer. She tweeted every day about books she was reading and news stories of interest, posted quilting pictures and photos of her grandchildren on Pinterest, Facebook, and Instagram, and kept up with friends and former colleagues […]
Same-Sex Marriage: Planning for the Future
(picture from Huffington Post) Q. My mother has been in a same-sex relationship with a wonderful woman for ten years. She is thrilled about last week’s decision that she could get married to her partner, if they choose to do so. What does the U.S. Supreme Court decision mean for same-sex couples who plan to […]
Tom Brokaw Doesn’t Know Where His Living Will Is. Do You Know Where Yours Is?
Tom Brokaw and his daughter Jennifer appeared at the TEDx Stanford conference, speaking on the subject of end-of-life health care options. Brokaw began the dialogue, framed as a conversation between father and daughter, by asking the audience to ponder the reason to have such conversations. He shocked the audience by admitting that “unfortunately, I don’t […]
What are a Trustee’s Responsibilities?
Dear Angel, My mother, Alice, asked me to be the successor trustee for her Revocable Living Trust. Before I accept the responsibility, I want to know more about what it entails. Do you know about the duties of a trustee and can you briefly describe them? Thanks! Watson Volved —- Dear Watson, Having been asked […]
What Type of Baby Boomer are You?
Baby boomers, or those born between 1946 and 1964, make up nearly 30% of the U.S. population. With this group reaching retirement age, new concerns are emerging when it comes to planning for retirement and long-term care. Recently, 3,300 respondents participated in a landmark study, “Health and Retirement: Planning for the Great Unknown,” conducted by […]
Can Family Caregivers Get Compensated?
Q. My father, Jack, is in the early stages of Alzheimer’s and has limited mobility due to other ailments. He currently lives alone at home and needs a lot of assistance. He has been a great dad, always putting my needs before his own. Now, I am doing the same for him. I recently got […]
Ask the Expert: VA to Offer One-Stop Website for Veteran’s Benefits
Q. My father, Joe, is a Vietnam veteran. He gets frustrated and confused when he tries to navigate all the veteran’s benefits websites and figure out what he may be eligible for. Even the VA Website doesn’t have everything he needs, and he has had bad experiences calling them, sitting on hold, getting transferred to […]
PBS Releases “Caring for Mom and Dad” Documentary
Graphic from pbs.org. Chris Olson was recently diagnosed with Alzheimer’s, and her husband, Brent, has prostate cancer. They lived alone, 300 miles away from their nearest daughter, and needed assistance. Their daughter, Breanna, who was beginning a promising political career, and her sister Shanna, a working mother of two, decided to put their careers on […]
Ask the Expert: I Am Young and in Good Health. Why Plan Now When I Can Probably Wait?
Q. I am in my 40’s and run marathons. I am in better health now than I have been in my entire life. My family eats only organic foods, and we are hardly ever sick. My grandparents are still alive, and they are in their 90’s, and my husband has a grandmother who is 102! […]
Landmark Supreme Court Marriage Case May Affect Planning Choices
Image from USNews.com Gay marriage is currently legal in 36 states, mostly because of the decision in the 2013 case of Windsor v. United States, in which the U.S. Supreme Court invalidated the federal Defense of Marriage Act. Two years later, the issue is back in the Supreme Court. And, by the end of this […]
Do I need to file taxes for a deceased relative?
Dear Commander Bun Bun, My mother passed away in 2014, and I am the executor for her estate. I typically wait until the last minute to file my taxes. Even though she is no longer with us, do I need to file taxes for her, as well? Thanks for your help! Filene Taxus ——— Dear […]
Informal Home Care Could Result in Medicaid Ineligibility
Betty Jensen was an elderly woman with dementia, who resided in her home in Muskegon, Michigan. In May 2011, when she needed assistance, her concerned grandson, Jason, acted on her behalf and hired a non-relative, Teresa Alexander, to serve as her Caregiver. Hiring a Caregiver When hiring the Caregiver, Jason entered into an informal agreement […]
Seniors Should Consider Cruise Ships Rather than Nursing Homes
About 2 years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed a senior lady sitting alone along the rail of the grand stairway in the main dining room. I also noticed that all the staff, ships officers, waiters, busboys, etc., all seemed […]
What Happens to Your Online Data After You Are Gone?
Q. Our next door neighbor, Joseph, was shoveling snow when he collapsed and died of sudden cardiac arrest at the age of 53. Grief-stricken and shocked, his wife, Jane, not only had to plan a funeral; she also faced the daunting task of figuring out the couple’s online financial life. Unfortunately, she only knew half of […]
New Case Showing Why Domestic Asset Protection Trusts (DAPTs) Don’t Work!
Dr. Charles Dahl and his wife Kim were married for eighteen years. In 2002, Charles executed a trust entitled “The Dahl Family Irrevocable Trust” that named Charles as Settlor, his brother Robert as Investment Trustee, and Nevada State Bank as Qualified Person Trustee. The trust also named Nevada as the domicile (the state where the […]
Non-Borrowing Spouses Can Still Face Eviction Due to Previous Reverse Mortgage Rules
Amy (59) and her husband, Frank (66), decided to get a reverse mortgage, sometimes known as an HECM (Home Equity Conversion Mortgage), last summer to supplement Fred’s Social Security. Amy was left off the reverse mortgage, due to her age. Later, she and her husband read about how a change has been made to the rules […]
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