Recent Posts:
How to Find the Perfect Caregiver
Whether you need full-time care, part-time care, or occasional respite care, choosing someone to look after your elderly loved one is a stressful process. You’re looking for a senior caregiver who can manage the details of the job — like cooking, cleaning, keeping medications organized. But caregiving is so much more than a list of household and helping tasks. It’s also an interpersonal role that demands compassion, patience, and excellent communication skills.
Is Life Insurance a Liquid Asset?
If you’re nearing retirement and wondering if there’s any way to stop working earlier, or if you’re currently retired and want to ensure you have enough money to live comfortably — it’s important to take a close look at your finances to see if you have any liquid assets. With this in mind, a lot of people wonder if their life insurance policy is considered an asset, and if so, is it a liquid asset?
Planning for the Costs of Senior Care
One of the great unknowns for today’s senior is the cost of healthcare. Fidelity estimates that a recently retired senior couple will spend nearly $300,000 on out-of-pocket healthcare expenses — not including the costs of long-term care. That’s an alarming exclusion, given that long-term care is among the priciest and most commonly needed forms of senior healthcare. Statistically speaking, seven of 10 people will require some level of long-term care in their lifetime.
End-of-Life Planning: 2023 Checklist
The end-of-life plan is your time to establish your legacy and shoulder the burden of difficult decisions — so your loved ones won’t have to. Those decisions involve your health care, your financial assets and liabilities, your funeral arrangements, and, the culmination of these, your overall estate plan. This checklist walks you through end-of-life discussion points on all four topics and summarizes the key end-of-life planning documents you may need.
What is the Cost of Adult Day Care?
You want the best care possible for your elderly parent, but you don’t have the bandwidth to provide it around the clock. You’re not alone. Hundreds of thousands of families around the U.S. need some form of supplementary care to help with elderly relatives who have physical or cognitive impairments. If your parent isn’t quite ready for full-time nursing home care, adult day care might provide the support you need.
How to Find Out If I Am Owed Money: 29 Places to Find Missing Money
Most of us don’t have long-lost relatives destined to leave us fortunes. But a surprising number of people do have unclaimed money they don’t know about. According to the National Association of Unclaimed Property Administrators (NAUPA), one in 10 Americans have unclaimed property, and states return more than $3 billion dollars annually to rightful owners.
Assisted Living vs. Nursing Homes: Criteria, Services, and Costs
According to research by the National Institute of Health, there are about 1.5 million elderly adults above the age of 65 in nursing homes and 1 million in assisted living facilities. This population group of 65+ individuals is growing rapidly as 10,000 baby boomers turn 65 each day. In fact, the group has grown by 34.2% over the last decade and is expected to continue growing at a rapid pace meaning more and more people will require care in an assisted living or nursing home.
What is Better: A Will or a Trust?
What’s the greatest legacy you can leave behind? Some would argue that it’s a solid estate plan. Designating your beneficiaries in a will or a living trust could be the final gift that’s most appreciated by your heirs. If you cast your last farewell without any property transfer instructions, your estate will be divvied up according to state law in probate court. Probate court is notoriously tedious and stressful, and only partly because those involved are also grieving the loss of a loved one.
What is Decreasing Term Life Insurance?
Decreasing term life insurance features term coverage that reduces in benefits over the life of the policy. The policy’s payout continues to decrease until the end of the designated coverage period, or the policy pays out.