While assisted living facilities may be best suited for older adults who need help focused on activities of daily living, nursing homes may be the right choice for those who have significant medical conditions requiring care throughout the day and evening. Nursing homes are a better fit for those with…
Although assisted living facilities and nursing homes are both long-term options for housing and care for older adults, there are some differences between them and these two terms are not synonymous. For those considering the decision on where to live as they get older, it’s important to understand these differences.…
Last week, I shared ways that surprises in one’s will can cause stress and difficulty for family members after someone passes away. Here are a few more reasons it is best to be open with your loved ones about your estate plan. The kids ‘don’t always get along’ In cases…
Handling the estate of a parent who has passed away can be very emotional for children, and this process can be even more emotionally tumultuous if their parent’s estate plan contains unexpected surprises. In cases where assets are not split evenly among children or there is an heir that comes…
Although planning for your death is unpleasant, it’s important to take the time to do so for your loved ones and family that you will leave behind after you pass away. Things such as a will, power of attorney, and wishes for your funeral and burial are all important parts…
This week (October 21-27, 2024) is National Estate Planning Awareness Week. Congress passed a resolution in 2008 for this to occur during the third week of October each year as it is estimated that over 120 million Americans do not have up-to-date estate plans to protect themselves and loved ones…
According to recent data, the majority of American investors in committed relationships say they trust their significant other and that both partners share the same retirement goals. However, over half of them have not yet put an estate plan in place. According to Ameriprise Financial’s “Couples, Money & Retirement” report, which…
Estate plans aren’t just important for older adults with large estates, they are also vital for young adults who own any assets to ensure that these assets will be handled according to your wishes should something happen to you. In this post, I’ll share about the documents you need to…
There are a number of milestones associated with young adulthood – such as landing your first job with a 401k, opening a savings account, owning a car, or buying your first home – that mean that you have an estate. An estate refers to your possessions, including tangible personal property…
The person you choose to be the executor of your estate could be a relative, trusted friend, or even a professional such as an attorney or financial planner. In some cases, your choice for executor may be very clear to you. If your spouse, for example, already knows your finances…