Calculating Wealth For Retirement
The October, 2019 AARP Bulletin posted on its cover a somewhat controversial statement “Everything You Think About Saving for Retirement May Be Wrong” and follows it up with “Find Out Why On Page 8.” The article itself raises some interesting points and, as with most summaries, there are “Rules” with which I agree and others […]
Continue readingDoes It Make Financial Sense To Marry a Second Time
Recognizing that average life expectancy has increased over time, the possibility that you might be considering marriage more than once in a lifetime also becomes more of a reality. Many older clients faced with choices regarding late blooming relationships whether from death or divorce are confronted with a decision, should they remarry or should they […]
Continue readingIt Is Medicare Open Enrollment Time Again – 2020 Version
You know it is Fall when you find Pumpkin Spice dog food and Pumpkin Spice Cheerios in the supermarket and then when you return home you open your mail to a new batch of solicitations for Medicare Advantage insurance plans. Yes, it is Medicare Open Enrollment time again and again it is time to review […]
Continue readingMediation’s Role In Elder Law Issues
When adult children disagree on the best course of action regarding ailing parents, disputes dating back to childhood can resurface. Different family members can assume different roles and misunderstandings can develop. Sometimes one adult child becomes the caretaker and believes the others will never understand how difficult caretaking can be. Others who might live at […]
Continue readingUS and Canada Rotary Districts Plan For the Future
Last week I took some days from the office to travel to Niagara Falls, Ontario, Canada for a purpose very dear to my heart. Anyone who knows me well knows I have a close involvement with Rotary. This year I had the privilege of being inducted as the president of our own Greater West Chester […]
Continue readingWhat To Consider When You Gift
In later years if you feel you are comfortably situated you might take a look at gifting either as a way of moving assets out of your estate or to pass some of your wealth on to your children before you die. Charitable gifting during lifetime can also be a satisfying way to benefit organizations […]
Continue readingRetirement and Widowhood
A recent article from a Forbes online source raised the issue of retirement and widowhood. (William Baldwin, “Retirement and Widowhood“) While we frequently plan for our estates considering what we leave to our spouses and children it is probably a fact that we rarely consider the long life ahead for many spouses as widows or […]
Continue readingExploring What Is the Best State for Long Term Care
If your parents live in Kentucky and you live in Pennsylvania and your brothers and sisters live in California and New York, chances are you may have had “the conversation” discussing with your parents where they might live if one of them needs long term care. It is not just a question whether they might […]
Continue readingDo Shared Living Arrangements Make Sense
When a daughter travels great distances to assure her mother is well or son visits so often with father that each of them figure it might be easier if they simply joined households, it might be time to begin to question whether a joint living arrangement might make sense for everyone. Multigenerational living is likely […]
Continue readingKnow When to Use or Not Use A Reverse Mortgage
As seniors and their families struggle to deal with the cost of long term care, reverse mortgages become a continuing topic. While seen by some as a convenient source of ready cash, this strategy can come with pitfalls that must be recognized in advance. One of the most consistent myths is that a reverse mortgage […]
Continue readingAdvice When It Comes Time To Transition the Family Business
Few decisions are as individual and personal for the owner of a family business than the decision to move on. Sometimes moving on simply means moving on to another business, hence the expression “serial entrepreneur.” Sometimes it means transitioning to a time when you can finally relax and do the many tasks, which might include […]
Continue readingExecutor – Can You Locate the Will?
In all the busy running around from day to day it is easy to lose track of important documents. It can also be helpful to know which ones are needed in original form and when a copy (or electronic version) will work as well. Here is some general information. Of all the documents that need […]
Continue readingProtecting Your House and Medicaid
While reading an article recently on asset protection for physicians I was struck by some of the same issues, but on a different level, for Medicaid and the Medicaid estate recovery program. In particular I noted concern regarding the house. Whether it is a $120,000 property or one substantially higher in value property owners are […]
Continue readingReporting Back From PAELA and the 2019 Elder Law Institute
Suppose you had the opportunity to sit around a huge table along with about 70 or 80 of the brightest people in your field and ask and answer questions regarding issues that have you all scratching your heads as to the best way to go. At the same conference you can also listen to people […]
Continue readingShould You Be A Trustee?
A recent article in Elder Law Answers, www.elderlawanswers.com, an online publication primarily for lawyers but also available to the public, discussed “A Brief Overview of a Trustee’s Duties.” It occurred to me then that most members of the public, while aware of the term “Trustee,” did not really know what a Trustee does. If asked […]
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