Bad States for Caregivers
It can be very expensive for families to provide the care needed for elderly parents. Sometimes living in the wrong state can make things worse.
In recent years, the costs of providing care for the elderly has skyrocketed. The rising costs have put extreme pressure on the finances of many American families who provide care for their older parents. The elderly parents often discover that they did not save enough for retirement to cover the rising costs for themselves.
However, not all states are equal. Caring for elderly parents is cheaper in some states than others.
Financial Advisor recently reported...
Americans Buying Fewer Life Insurance Policies
Americans are purchasing far fewer life insurance policies than they did a few decades ago. The reasons for the decline are not clear.
Life insurance can be a key tool in estate planning. This is because it provides a way to provide cash to families who might need it, especially while the rest of an estate is settled in probate. Life insurance can also help equalize inheritances between children, when other estate assets are difficult to divide.
Americans are purchasing fewer policies than before. Between 1965 and 2016 the population grew by approximately 50%. However, the total number of life...
Estate Litigation Trends
Estate litigation occurs for a variety of reasons. However, experts can often predict what types of litigation will become more popular.
At the heart of most estate litigation cases is some sort of family grievance. There are other reasons for litigating over an estate. However, family issues are by far the biggest source of conflicts. That is a timeless principle that has been true since the very beginning of estate law and it is likely to always be true.
However, the contours of how the litigation proceeds changes over time. It is useful to try and anticipate how potential battles...
Social Security Underpaying Some Claimants
An internal government audit has found that Social Security is underpaying many widows and widowers, because it is failing to adequately inform them of their options.
One of the most important and difficult decisions people must make when they are considering retirement, is when to start taking Social Security benefits. The longer people delay taking benefits, the more they will receive per month.
To get the maximum amount of lifetime benefits, people need to factor in their life expectancy. This is difficult enough for people who are just having to decide when to take their own benefits. However, it becomes...
Medicaid and Funeral Planning
If you want to plan in advance for your own funeral so that your family does not have to make the arrangements, one of the questions to consider is whether or not you should also pay in advance. The answer might depend on your expected Medicaid needs.
In general, it is a good idea to pre-plan your own funeral. This allows you to determine where and how your remains will be handled. It also removes a potential burden for your family, when they will be in mourning over you.
Funeral homes offer many different types of pre-planning packages that include...