Although nobody can be forced to participate as a caregiver, there are ways to approach the situation that are more likely to have a positive result. Families encounter many issues when planning care for a loved one. A common issue is the unwillingness of siblings to “step up to the…
"During their careers, their 'acquiring wealth years,' many people live in places that have lots of jobs – and the higher cost of living that goes along with that," Friedman says. "In retirement, many of them want to move to a state where they can enjoy the same or an…
This case has drawn plenty of attention due to its legal and financial implications. Essentially, the case has escalated to the point of a federal judge warning state regulators that she would consider issuing an order to drop Ohio from Medicaid enrollment altogether, leaving the Buckeye State without federal funds to provide medical care for…
Home equity loans can be problematic if not done correctly and require careful attention to the rights of the surviving spouse, if you are married. And of course, the end of the process means you or your heirs give up your home. There are other ways to tap into your…
Medical research confirms one of the first things people have trouble with in the very early stages of dementia is managing personal finances. This means people can make very expensive financial mistakes, often before anyone notices there is a problem. I have seen this happen, and it is heartbreaking. You…
The woman Benny claims took advantage of him was his second wife. He says after he had a stroke, she threw him in a nursing home and never saw him again. At one time, World War II veteran Benny Goo was very affluent with a gorgeous home in Hawaii. Now,…
Dealing with aging parents is not only tough emotionally, but financially. As one's parents age, financial and health care discussions are essential for families to have in order to plan ahead for any care they may require. A recent Newsday article, titled"Money Fix: The cost of caregiving," tackled this tough…
Today, ordinary income plus various other taxes could boost the effective tax rate on those second-level RMDs well over 40%. Who knows what tax rates might be in effect when current clients eventually pass their IRAs to future generations? Some individuals choose to have partial Roth IRA conversions so they…
Although their names are confusingly alike, Medicaid and Medicare are quite different programs. What is the difference between Medicare and Medicaid? There are strict income and asset guidelines that must be satisfied to be eligible for Medicaid coverage. While Medicare is solely a federal program, Medicaid is a joint state-federal…
The best time to discuss finances with your parents is when they are competent, self-sufficient adults. Planning ahead and seeking out the appropriate professional financial assistance on their behalf can help ensure your parents enter their golden years in the most comfortable, stress-free and secure way possible. You may dread…