Money and Finance

When is a Person Unfit To Make a Will?

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Testamentary capacity refers to a person’s ability to understand and execute a will. As a general rule, most people who are over the age of eighteen are thought to be competent to make and sign the will. They must be able to understand that they are signing the will, they must understand the nature of […]

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Do you know the Difference Between a Stockbroker and an Investment Advisor?

Assisted Living, Healthy Aging, Money and Finance, Senior Care Leave a comment ,

Few people understand the difference between an investment advisor and a stockbroker. The difference is substantial. An investment advisor is a fiduciary; this means they have a legal and ethical duty of primary loyalty to their clients. The interests of their clients are paramount. Investment advisors receive a fee based on a percentage of the […]

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The Effects of Gifts on Medicaid Planning

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Medicaid is a healthcare program designed to help individuals with limited income and assets afford needed medical care. Importantly, Medicaid covers long-term healthcare services such as nursing home costs and costs for at-home personal healthcare. Because Medicaid is intended to benefit those with limited income and assets, there are strict eligibility requirements based on income […]

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10 COMMON MISTAKES PEOPLE MAKE WHEN APPLYING FOR MEDICAID

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Though the aging population continues to get larger, there is more need for long-term care. However, since most elderly Americans do not have long-term care insurance or have the assets to be self-insured, many people are dependent upon Medicaid, as Medicare’s coverage is much more limited when it comes to longer-term costs. The government helps […]

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Conservatorships and How to Avoid Them

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If a person becomes mentally or physically handicapped and can no longer make rational decisions about their person or their finances, his or her loved ones may consider a guardianship or a conservatorship whereby a guardian would make decisions concerning the physical person of the disabled individual, and conservators make decisions about the finances. Typically, […]

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Changes to the VA’s Eligibility Requirements for Non-Service Connected Benefits

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Effective October 18, 2018, the law regarding VA Eligibility Requirements for a veteran (or spouse) to receive non-service connected benefits changed. This new law regarding the VA’s Aid and Attendance pension benefit imposed a 3-year look back and it established a net worth limit of $127,061 (in 2019), which will increase each year with cost-of-living adjustments. Net worth, […]

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Elder Mediation Services

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  What Is Elder Mediation? It is amazing how quickly formerly cordial relationships between family members will sour when the family has to deal with care of elderly parents or inheritance at their death. Sometimes the consequence of dealing with the final years of elderly parents can break families apart and create long lasting animosity. […]

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How Seniors Get Taken for All They’ve Got

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Think you’re too smart to fall for a scam? A new study says 1 in 18 “cognitively intact” older adults is taken in by financial fraud or abuse in any given year. Declining cognition is responsible for a 33 percent increase in susceptibility to a scam, but healthy adults are often victims, says Patricia Boyle, […]

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The Value of Life Insurance for the Final Years

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Life insurance for the final years of life is generally a good thing. A death benefit can be a very valuable resource for a surviving spouse. When one member of a couple dies, one of the social securities disappears — the smaller of the two. This leaves the survivor with less income. Sometimes, pension plans […]

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Caring for the elderly: Dealing with Resistance

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Caring for the elderly can be challenging — particularly if a loved one doesn’t want help. Understand what’s causing your loved one’s resistance and how you can encourage cooperation. One of the toughest challenges you can face when caring for the elderly is resistance to care. How do you help a loved one who doesn’t […]

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