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New Changes to Retirement Planning
In France, proposals to raise the retirement age are met with street protests. Yet around the world, the retirement age is creeping up; in the United States, it is moving up from 65 to 67. In fact, 2019 research shows that many Americans expect that they might never retire at all. People simply do not […]
Medicare Patients Struggle to Afford Home Health Care
All across the US, there is a new refrain spoken by Medicare home health providers, including occupational, speech, and physical therapists, social services, as well as intermittent skilled nurses: “Your husband (or whomever) is not going to get better, so we will have to discontinue our services as Medicare will not pay for it.” Termination […]
Rising Number of Seniors Continuing Care at Home
Decades ago in America, it was prevalent that extended family members lived near to one another, providing a system of general support and care for the family young and old. Now many families live far out of reach from the daily lives of their elderly parents save for the internet and internet of things allowing […]
Hybrid Policies May Help Your Long-Term Care Needs
You have probably heard about the astronomical costs of nursing-home care if you become seriously ill or injured. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet either if you’ve heard horror stories about skyrocketing premium costs and difficulties in even […]
How to Get Retirement Planning Help for Seniors
As older adults transition from employment to retirement and settle into new routines, there are many different things to think about and plan ahead for. For example, there are numerous benefits to having a well-thought-out retirement plan and taking the necessary steps to properly and safely retire. Here is an overview of the most important […]
Gift Taxes and What They Mean for You
The gift tax is a tax on the transfer of assets, cash or property, to another without receiving something of equal value. The asset has to be of a certain value for the tax to apply; otherwise, it falls under the gift tax exclusion, either annual or lifetime. If the gift is above a certain […]
How to Help the Senior You Love with Nursing Home Care Planning
Did you know that the average annual cost of living in a nursing home in New York is over $100,000 per year? How to pay for nursing home care is one of the biggest worries on the minds of seniors and their caregivers today, which is why proper planning is needed to cover high nursing […]
Estate Planning with a Blended Family
Couples often bring children into a marriage from a prior marriage or union and then have children together. This is often referred to as a blended family. Blended families highlight the need for careful estate planning to make sure the needs of each spouse are met, as well as the needs of each parents’ children. […]
Property Co-Ownership Could Be Tricky
Although owning property with family may let you pass on the asset without going through probate, there are several risks, including taxes, creditor exposure, and loss of control. So when dealing with property, it is important to consider these risks and how to manage them, or to consider other methods of estate management entirely. The […]
The Windfall Elimination Provision
If you receive a pension from your employment that did not pay social security payroll taxes, your SSA benefit might be reduced by the Windfall Elimination Provision (WEP). How can you know if this is your situation? Your social security statement does not reflect any reduction in benefits because of the WEP. The SSA will […]
