Planning For Long-Term Care Costs

Many of our clients feel uncomfortable discussing the risk of running out of money should they require living in a nursing home. As advisors, it’s our responsibility to help you understand just how expensive long-term care is, and that failing to plan for it jeopardizes your senior years and possibly creates an enormous financial burden… Read More »

Helping You Have ‘The Talk’ With Elderly Parents

It’s one of the most uncomfortable topics you may face, and one of the most important – discussing your parents’ financial situation. In many ways, it’s easier for parents to talk about the “birds and the bees” with their own kids than it is to talk with elderly parents about money. The latter conversations turn… Read More »

For Money or Culture, Generations Are Living Together

For reasons both cultural and financial, Americans are living in multigenerational households in numbers not seen since the 1930s, The New York Times recently reported, and it shows no signs of changing soon. Grandpa’s teeth in a cup on the vanity. Suzie’s soccer cleats on the back porch. Mom and Dad cooking dinner for six…. Read More »

Self-Neglect Top Cause of Elder Abuse

The words “elder abuse” often suggest frightening scenarios of a relative stealing an incapacitated senior’s savings, or a caregiver being physically abusive. As troubling as theft and violence are for the elderly population, they are eclipsed by the effects of self-neglect, reported in a recent article in The New York Times. Self-neglect means someone’s behavior… Read More »

Protecting an Aging Parent’s Finances

Convincing an ailing senior parent to turn over management of their finances to an adult child can be more challenging than taking away their car keys. After all, Mom and Dad taught their kids the importance of spending less, saving more, and investing for the future. Their sage advice: Pay bills as soon as they… Read More »

Cover Me: Why a Durable Power of Attorney for Asset Management is a Smart Part of Your Estate Plan

In 2007, pop singer Britney Spears had a highly publicized meltdown. Caught on camera shaving her head, attacking a paparazzo with an umbrella and otherwise calling her sanity into question, Spears’s father took steps to contain his 26-year-old daughter’s erratic behavior and protect her multi-million dollar estate. While today, Jamie Spears’s actions appear to have… Read More »

Keep Clients from Becoming Squeezed As Part of the ‘Sandwich Generation’

Your clients have worked hard all their adult years, raising children and changing careers with the times, while aiming toward a great retirement. But perhaps a family elder is increasingly in need of assistance, financially and otherwise, because she’s nearly outlived her retirement nest egg. And so, your clients invited her to live with them…. Read More »

Beware the Risks of Reverse Mortgages

Originated in 1961 in Portland, Maine, reverse mortgages allow people 62 and older to borrow money against their home’s equity and not pay it back until they move out or die. And when President Ronald Reagan signed the FHA Reverse Mortgage bill into law in 1988, it signaled the true modern era of reverse mortgages…. Read More »

Having the Big (Financial) Talk with Parents

Your client’s parents have been there for their children all their lives. Now that they’re nearing retirement age, it’s time to return the favor — especially when it comes to their financial well-being. CNNMoney suggests families should talk about their elders’ finances when the parents turn 70 or the children turn 40 ( Other experts… Read More »