Elder Care Expenses

Elder Care Expenses image

Families that provide care for elderly relatives face large expenses. There are a few tax breaks that can help to defray some of the costs.

When it comes to caring for its elderly population, the U.S. has begun to enter something of a crisis zone. Many people are aware of pending challenges facing government programs, such as Social Security and Medicare. Those programs will either need to soon find more funding or be restructured.

There are other difficulties that tend to be under the radar, when it comes to caring for the elderly.

One example of that is increasing life...

The Lottery's Dark Side

The Lottery's Dark Side image

People who suddenly inherit wealth and who do not know how to handle it, can face many difficulties. For lottery winners, sudden wealth can bring even more trouble.

One of the key principles in estate planning is this: it is not a good idea to leave heirs a great amount of wealth outright, especially if they are not already wealthy. People who do inherit wealth like that, tend to fall victim to many different traps.

They often waste the wealth on frivolous items. They gamble. They fall for the schemes of people who seek to manage the wealth for their...

Trust Language Is Very Important

Trust Language Is Very Important image

One of the reasons that you should not try to create your own trust, is that the specific language in the trust can make a very big difference in how the trust will be enforced.

It is now relatively easy to have a trust drawn up. You can even do it yourself, with the help of downloadable forms that can be purchased online. A cottage industry even exists to encourage people to go this route.

By going to a website, answering a few questions and making a small payment, people can quickly get a revocable living trust that can serve...

Brooke Astor's Grandson Still Works to Fight Elder Abuse

Brooke Astor's Grandson Still Works to Fight Elder Abuse image

The man at the center of one of the most famous elder abuse cases in the country, Phillip Marshall, still works to prevent elder abuse.

A few years ago, a major scandal hit New York’s high society. Brooke Astor, a wealthy heiress, was in cognitive decline. She had wanted to leave her vast fortune to charitable causes and her son, Anthony Marshall, was charged with scheming to take advantage for his own financial benefit. He might have been successful, if not for the efforts of his own son, Phillip Marshall, who blew the whistle and who was ultimately successful in...

What You Do in Retirement Matters

What You Do in Retirement Matters image

A recent study found that people who retire earlier than similarly situated people, tend to live longer. However, that result is likely not directly related to the fact of early retirement itself.

One of the many questions people face as they approach their elder years, is deciding when to retire. For some people, the decision is primarily made on the basis of their finances.

Those who have saved more than others can retire earlier. However, for some people the decision also includes lifestyle preferences.

Many would prefer to continue working, even though they can afford to retire. A new study...