A one-bedroom apartment in an assisted-living facility will cost you $194 per day–or about $71,000 per year. A home health aide will set you back $25 per hour, or $1,000 for a 40-hour week. Not scared yet?
You will want to replace your income. You will also want to stay socially engaged.
The death of pop star Prince is an extreme example of what can happen when people die without a will. After he died in 2016, long-lost ‘relatives’ came out of the woodwork, claiming to be his wife, child, brother, sister or distant relative.
When it comes to the prospect of dementia, advance directives are critical because the disease is progressive.
…if you’re contemplating moving into an age-restricted community, finding one that’s right for you takes work. While active adult communities generally offer the opportunity for a lower-maintenance (and sometimes lower cost) lifestyle, they vary enormously.
When planning for the transfer of your wealth, the options available to you and your family can at times feel overwhelming. How do you choose the solution that best fits your circumstances and your family’s needs?
From wills to life insurance, no one wants to discuss a financial plan with their aging parents.
Estate planning is not only for the wealthy—everybody can benefit from ensuring their assets and finances are properly taken care of after their death.
You make things easier for the children, by planning for the possibility of a nursing home stay because you take the burden off the children to make crisis decisions for your long-term care costs.
An irrevocable life insurance trust (ILIT) can provide peace of mind, as you start your estate planning process. If you have a sizable estate or young beneficiaries, an ILIT can provide control over a life insurance policy that a last will and testament may not.