The unknown about spending in retirement is not just whether it will be higher or lower, but when during the course of retirement, you’ll be spending more or less. If you downsize, housing costs will decrease, but if you travel more, recreational spending will rise. According to a recent article…
A generation seems to be waking up to the concept that they are likely to need to care for a spouse or a family member, and they’re taking it seriously. A study from Bankers Life Center for a Secure Retirement reported that 90% of baby boomers surveyed understand that they…
The progressive nature of dementia makes advance directives necessary to manage the health care needs of the patient. When adult children suspect that one or both of their parents may be suffering from the early symptoms of dementia, it’s a good idea to sit down with an experienced elder care…
Parents of special needs children need to be especially proactive about planning for the future. Their planning should start with an estate plan, that includes a Special Needs Trust. It’s one of the hardest things for any parent to think about, but for special needs families, planning for the child’s…
Life before Medicare was a real struggle for seniors without healthcare coverage. Today’s program still works wonders, but it doesn’t cover everything. Once you turn 65, you are eligible to take part in the Medicare system of healthcare. It can be a little confusing to apply, and sometimes a little…
When one spouse needs nursing home care and the other is healthy, there are several approaches that can be taken to securing Medicaid coverage. An elder law estate planning attorney should be contacted, since every situation is different. For some couples, a Medicaid-compliant annuity may be a solution. What happens…
If you’ve got a fair amount of equity in your home and no other way to cover a healthcare cost or if the bills are coming in faster than your retirement accounts can manage, it might be time to consider a reverse mortgage. For retirees in a financial tight spot,…
Boomers are more willing to plan their own funerals, than to prepare for an extended stay in a nursing home. Both are inevitable events for most of us. With more than 10,000 people celebrating their 65th birthday every day in America, and the startling statistic that 70% of us will…
It is important to understand the basics of special needs planning, so that you can plan for your child’s future. There are many issues to address, but an experienced Houston estate planning professional will be able to help. Special needs planning is challenging. It’s important to have a strong team…
“Iowa Senator Charles Grassley is among those in Congress calling for a crackdown on elder abuse crimes in the country.” The witnesses of loved ones affected by elder abuse incidents testified at a recent Senate Finance Committee hearing in Washington. Those witnesses included Pat Blank, longtime Iowa Public Radio host,…