All Colorado families are different. Some families are traditional and have a mom, dad and two kids; other families feature only one parent with one or more kids. Regardless of the family structure, concerned parents plan for their children's well-being. When children with special needs are involved, this special needs planning becomes even more critical.
Planning for the future is an important part of the average Colorado family's routine. As a part of financial planning, the family often funds investment accounts, makes prudent financial decisions and establishes an estate plan. Yet, in spite of this essential planning, parents with special needs children often fail to complete special needs planning for the continued care of the child once they are no longer able to provide this care.
The growth in the nation’s economy since the last recession is unquestionable. It has spawned a number of small businesses, particularly the number of new enterprises owned by women. According to a number of media reports, more than nine million small businesses are owned by women, which accounts for about a third of all active businesses across the country.
The population of older, wealthier people continues to increase. That growth coincides with people looking to exploit the vulnerabilities that come with advanced age. Yet, financial exploitation continues to be overlooked and unreported. The problem is only getting worse with a national government lacking a formal system for complaints and much-needed interventions.
For years you have likely heard financial forecasters in Boulder and throughout the rest of the U.S. warning you of the need to start your financial planning now in order to cover your costs of living once you retire. Hopefully you have heeded that advice and begun to do so. Yet as you begin to plan your retirement savings, there is one factor that you will want to consider: the impact of inflation.
You may be a very accomplished adult with a long list of achievements. And you may be a parent who is successful in your own right. But you will never outgrow being your parent's child. And perhaps you have recently realized that your parents are at a point in their lives where they need your help to a greater degree than they are able to admit. As difficult as this may be for all of you, it could be time for you to assert yourself a bit more in their affairs.
It is no secret that as we age, we become frailer and more vulnerable. Perhaps you have seen such changes affect your parents or other relatives. And while it is important to allow your loved ones to have their independence, it is also important to make sure that they are not compromised or taken advantage of.
Life gets more difficult as we age. Not only do we become more physically frail, but our mental capacity can become impaired. In short, older people are often extremely vulnerable and should be treated with care. This is why it is so hard to comprehend how someone could willfully and maliciously take advantage of an elderly person.
As human life expectancy has increased, so too has the length of the typical retirement. Overall, this is a positive development. But as we all know, it takes money to maintain a comfortable and safe lifestyle. And more than ever, seniors need their assets to provide for their necessities. Unfortunately, many seniors are finding that retirement is more expensive than they expected.
Financial exploitation of the elderly or the incapacitated is one of the most common forms of maltreatment toward adults. Not only is financial exploitation typically perpetrated upon those with health risks, it can contribute to or cause health risks in those who are exploited in this way. If you think about the type of people who would prey upon others, it makes sense that they would come after the most vulnerable targets, particularly those who are unable to defend themselves.