It is common for people to seek wealth transfer and estate planning strategies that not only preserve their assets but also benefit them financially during their lifetimes. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique…
A nursing home resident’s well-being depends on you advocating for them. Residents in nursing homes and other long-term care facilities are disproportionately affected by the flu, pneumonia, COVID 19, and other contagious diseases. According to the American Family Physician Journal,…
We have all witnessed friends and family members die slowly and dehumanizingly as a result of Alzheimer’s disease. In the final stages of this and other dementia diseases, there comes a time when your loved one can no longer speak,…
Increasingly, older Americans are aging in place. Nearly all older adults prefer to age in the comfort of their long-time homes and familiar community surroundings. Aging in place often means living alone. Pew Research findings show that older people are…
It is estimated that three out of four Americans over the age of 50 plan on aging in place according to AARP. These seniors are willing to employ alternative solutions to make it happen. The alternatives include home sharing (32%),…
When it comes to transferring property or money to their children, most parents prefer to treat their children equally. But sometimes, parents intentionally choose to not leave anything to a child, and the reasons for doing so may vary. One…
How would you decide how to care for yourself if you were seriously ill or accidentally injured? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive, can outline your…
A steady path can over time make you a self-made millionaire if you are part of the millennial generation or younger. It does not require a unique set of skills, specialized knowledge, or even excessive risks. Americans who achieve millionaire…
In an estate plan, assets are distributed in accordance with your wishes, and your loved ones are provided for after your death. It requires organization and strategy and begins with five key legal documents that can address many areas of…
People with low incomes are eligible for Medicaid health insurance. However, because of the steep costs associated with long-term care, Medicaid planning is a growing trend for individuals with higher net worth as an alternative to spending down assets to…