ESSENTIAL STEPS TO ACCOMPLISH YOUR GOAL
Start Early and Get Help - Lack of planning may have disastrous consequences. Planning for special needs families often involves several financial, legal and benefits-related strategies. Assembling a team of qualified professionals to advise you will take time. A financial advisor, estate planning attorney, benefits coordinator, trustee/trust company, family physician/registered [...]
A recent study by the AARP found that nearly a quarter of the adult population are providing voluntary care for family members and friends. As the population ages and people live longer, this number is sure to rise. To reward these caregivers, parents often would leave an unequal inheritance to the caregiver child. Often these [...]
Normally, seniors receiving social security benefits see a 2-3% increase in their benefits each year. For the first time in decades, there may not be a cost-of-living adjustment. For some, social security checks may be lower when factoring in Medicare Part B premiums. Most, however, are protected by a provision that ensures Medicare premiums don’t [...]
LITTLE KNOWN PROGRAM CAN PROVIDE HELP FOR VETERANS
One often unclaimed, but very valuable program available to veterans is the VA aid and attendance benefit. This program was created to help veterans, veterans and spouses or surviving spouses by providing financial assistance to help defray the costs and expenses with assisted living or at home care. Generally, [...]
WHEN IS THE RIGHT TIME TO BEGIN PLANNING?
As everyones financial and medical backgrounds are different, so is the “right” time to begin planning. The more time you have to plan before long term care is needed, the more options you may have and less stress you and your family will endure. Anytime you have a [...]
Elder law is an area of law that encompasses any legal issue facing the elderly. It is often associated with estate planning but can involve much broader social, economic and health related difficulties facing aging Americans. Some of the concerns that become more important to us as we grow older and may require more careful [...]
Being a parent comes with great joy but significant responsibility. It is no different for parents of children with special needs. In some situations, careful planning can be critical to address a family’s financial needs. Parents must not only plan to care for their children during their lives, but they must also take steps to ensure they [...]
Senior Resource Center of Worcester County is now offering a free resource guide to Seniors in the Worcester County area. Senior Resource Center of Worcester County (SRCWC) is a full-service elder advisory group assisting Seniors and their families in the areas of financial guidance, asset protection and care coordination. SRCWC offers solutions in identifying and [...]
The process of planning your estate can be a daunting one. Often, you are asked to think about, discuss, and plan for an event that is unpleasant. For most of us, the plan we develop will not be needed for years. On top of that, you are then asked to gather numerous documents and verify details about your [...]
Developing an estate plan, while an essential first step in protecting your family and financial future, does not end when you sign and execute your will, durable power of attorney, and other important estate planning documents. Your estate plan should be reviewed periodically to determine if any changes or revisions should be made. Certain changes or events in [...]