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Posts tagged "Financial Planning"

Scam targeting elderly netted $300 million in ill-gotten gains

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.

Seniors seeking to grow assets could be targeted by fraudsters

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.

Elder abuse goes beyond financial exploits

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.

What is the cost of my elder care options?

When your golden years seem to lose their luster and the strength to get out of your chair is nearly impossible to muster, you may begin looking into alternatives to keep you in your house and your comfort zone longer. However, your monthly checks don't seem to expand with inflation and you aren't sure what you will be able to afford. The concern is real, and knowing the average costs of elder care in Colorado will help guide the decisions you probably need to make in the near future.

What is the best way to calculate long-term care cost?

As much as we believe that being prepared is proper planning, it is difficult to plan for the rising cost of long-term care. And if we can't plan for it, how can we prepare for it? One great way to begin planning for the expenses related to long-term care is to use a long-term care calculator. These useful tools can be found online and can be used to help you plan for the rising cost of healthcare.

Financial exploitation may not be obvious

Despite hearing countless stories about nursing home abuse and neglect, one of the greatest threats to our senior citizens is that of financial exploitation and abuse. Unlike physical abuse, financial exploitation does not leave immediate and noticeable injury and can go on for a substantially long time before being noticed. Understanding who is at risk and how it happens can help senior citizens, and their family members identify potential and occurring financial exploitation.

Planning for the future often takes a coordinated effort

When planning for your future financial and medical needs, there are numerous aspects to consider. Older individuals typically have even more concerns when developing this type of care plan. To address the many issues related to the financial and medical aspects of care planning, elder law attorneys can provide seniors with this comprehensive service.

Asset protection may require an attorney

Asset protection is one of the most commonly overlooked aspects of financial planning. Even though many individuals spend a great deal of time devising a strategy to make their portfolio grow, protecting it so it can do so is a completely separate challenge. Fortunately, it is never too late to protect your most valuable assets with the help of an elder law attorney.

Why is an elder law attorney necessary?

During the two most vulnerable times in our lives, when we are infants and when we are seniors, we require the help of others to advocate for our care. When we are born, our parents take on the responsibility of raising us, caring for us, and providing for us. As we age, our parents are less able to take on these responsibilities. When we become seniors, our parents are gone, leaving us once again vulnerable. For aging seniors, it is important to have an advocate to take on the responsibilities that our parents once did. For many seniors and their families, this means finding the help of an elder law attorney.

Don't forget about life insurance when creating a financial plan

Life insurance is one of those necessary tools that often goes overlooked or underappreciated until it comes time to cash it in. Many people know that life insurance plays an important role in their estate plan, but few people see it as a useful asset in their financial plan. The fact is that ultimately, the money provided by a life insurance policy could help protect family assets that may be placed in jeopardy if there is a shortage of estate funds.

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