Talking To Your Parent About Long-Term Care
There will come a time in many people's lives where they have to step in and provide care for an ailing or aging parent. This is almost always a difficult transition, but it can be even more stressful if you don't understand what your parent wants, or if they are resistant to your help. Talking about these issues before they arise can help make the situation much easier. Here are some topics to consider. What medical care does your parent want? Were something catastrophic to happen, what care would they want? Would your parent want all possible life-saving measures, or ... [ CONTINUE READING ARTICLE ]
Should You Use Medicaid To Pay For Long-Term Care?
Over the course of their lives, many seniors will end up needing some form of long term care. Whether it's a nursing home, in-home caregiver or something else, long term care is expensive. Few people have enough in savings to pay for all of the costs out of pocket. For some people, Medicaid can be a very good tool to pay for long term care. However, not everyone qualifies for Medicaid, and using Medicaid can have some unexpected financial consequences. Here are a few things you should know if you are considering Medicaid for yourself or a loved one. Eligibility ... [ CONTINUE READING ARTICLE ]
4 Tips For Family Caregivers
Caring for an ill or aging loved one is hard work, and something that a lot of people do. According to data from the Centers for Disease Control and Prevention, more than 34 million people in the United States provide unpaid care to an ill or disabled adult. On average, these family caregivers provide over 20 hours of care every week. There's a financial investment as well: many caregivers end up spending thousands of dollars out of their own pocket or cutting back on their working hours. If you're a family caregiver, be proud of the work you do. ... [ CONTINUE READING ARTICLE ]
Beware: Scammers Target Elderly Adults
Scammers target senior citizens. It's sad, but it's true. Criminals prey on elderly adults because they assume that elders will either be too trusting to recognize the scam, or too polite to push back on the scammers' pressure tactics. Financial scams can affect any senior, even those who are smart and healthy. In fact, even Treasury Secretary Jack Lew has admitted to almost falling for a scam! You can help your loved ones stay safe The best way to avoid scams is to educate yourself and your elderly loved ones, so that you can recognize the signs of a scam. ... [ CONTINUE READING ARTICLE ]
Elder Financial Abuse: A Silent Epidemic
Financial exploitation of the elderly is a serious problem in this country, and one we don't talk about nearly enough. According to data provided by the National Adult Protective Services Association, one in 20 elderly people will suffer financial abuse in their lives. Sadly, only about 2 percent of cases are ever reported. Financial exploitation deprives elderly people of the money they need to fund their retirements, pay for long-term care, and afford basic necessities like food, housing and medical care. It can also have serious repercussions for the victim's mental and physical health. Financial abuse takes many forms Financial ... [ CONTINUE READING ARTICLE ]
What Happens In Probate?
Whenever someone dies in Washington, their personal representative must settle their estate. In many cases, this means going through the probate process. The idea of having to go through a legal proceeding can feel daunting, particularly during a time of grief. Thankfully, the probate process is not nearly as difficult as most people imagine. The role of the personal representative The person named as executor in the deceased person's will is responsible for starting probate. If there is no will, or if the named executor(s) is unable or unwilling to serve, the court will appoint an administrator. If the deceased ... [ CONTINUE READING ARTICLE ]