As states ease their lockdown rules, people will be eager to visit loved ones. If you have older, vulnerable parents, you could be especially ready to visit them in person.
However, in addition to being mindful of how to visit them safely, you should also prepare to look for signs that your parent needs more help than he or she has.
Many adult children anticipate caring for an aging parent at some point. This expectation can stem from wanting to retain a close relationship or out of obligation. Whatever the reasons may be, determining if such an arrangement is feasible will be crucial.
A primary limitation people face when it comes to taking care of someone at home is whether they have the capability – in terms of time and money – to do so. To help you assess your circumstances, you should be able to answer four critical questions.
If you are healthy and collecting a steady income right now, it can be difficult to imagine your life any other way. However, it is crucial to think about what you will do if your situation changes.
For instance, do you know what you will do if you require long-term care due to illness or injury? If you expect that you will just apply for Medicaid, you could be making an expensive mistake by failing to do some planning right now.
On this blog, we often examine topics regarding people's estates. We explore estate planning strategies and explain estate administration tasks. However, without a solid understanding of what your estate is in the first place, you may not know what you have or why you must protect it.
In this post, we will discuss what comprises your estate as well as what happens to it upon death.
Older adults with significant health and personal care needs rely on others to help them do a number of things, from bathing and eating to paying bills and taking medication. If your parent is in this vulnerable position, you want to ensure that others who are there to help them do what you expect.
For example, you can take the following steps to protect them from negligent, abusive parties.
If your parent can no longer manage his or her own care without help, it may be time to appoint a guardian. A guardian assists a vulnerable adult (also called the ward) in various tasks, from arranging health care to shopping for clothes and food.
This role is a responsibility one should not take lightly. As such, if you are considering petitioning the courts to be the guardian for your parent, you might first think about the legal and personal implications of this role.
Having children can change a person’s ideas about the future. As such, creating an estate plan is something many people do when they become parents.
Creating an estate plan is certainly wise for new parents. However, it is also important to update and revise your plans as your children grow up. Below, we explain three especially common areas to address.
Wanting to support a charitable cause you believe in can be a critical component of your estate plan.In most cases, charitable organizations welcome and appreciate gifts of any size or type. But to maximize and protect your donation, and to make it easier for the recipient party to avoid complicated legal processes to receive it, you can take the following steps.
When people think about financial abuse that targets seniors, they often imagine digital spam and telemarketing scams. As a result, family members may not recognize that a parent or other elderly loved one may be at risk of abuse by someone they know.
Tragically, statistics show that about 60 percent of abuse and neglect cases involve a family member.
Trusts can be a critical part of an estate plan. People create trusts for various reasons, including probate avoidance, shielding assets, protecting young or disabled beneficiaries, reducing estate taxes.
Whatever reasons you may have for wanting to include a trust in your estate plan, you must be sure you take the proper steps to set up and maintain the trust. Below are four mistakes in particular that you should avoid when creating your trust.
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