Tag: Elder Law
Nine out of 10 Americans say they want to grow old at home and keep living in their communities as long as possible, according to AARP. Eventually requiring some form of care is just a fact of aging. But proper planning in advance can give you more options if done right. For instance, would you […]
A U.S. tax crackdown is coming for foreign retirement plans. While many retirees choose to spend their golden years close to home, others are opting to spend their retirement abroad in a foreign country. Unfortunately, a “foreign” retirement may attract troubling scrutiny from the IRS and the implementation of FATCA. According to a recent Bloomberg […]
If you’re thinking of relocating, compare the taxes in potential retirement states to those in your current state. Wherever you retire, you may be eligible for senior-related breaks on retirement income, property taxes and sales taxes. Where do you want to spend your golden years? Regardless of where you decide to retire, make sure you […]
The new tool, developed by researchers from Italy’s University of Milan, could provide doctors with a more objective method that gauges the complexity of a patient’s consciousness. Advances in brain science keep us informed and help us better understand how the brain functions. And when it comes to making end-of-life plans, the more we know […]
The number of adults caring for someone with a serious health problem is on the rise and is likely to continue growing as the population ages. It is not uncommon for someone to take on the task of caring for an aging parent or relative in their elderly years. But what are the true costs […]
Use this versatile account to get tax-free income and a whole lot more. If you are used to a traditional IRA, the Roth IRA may seem peculiar at first when it comes to retirement accounts. So here’s a brief refresher on all the perks of the esteemed Roth IRA. A recent Kiplinger’s article, titled “Why […]
“Fighting over personal property is the match to the tinderbox of emotions,” says McManus. “Sometimes feuds start because of lingering resentments over who worked the hardest to take care of Mom or Dad when they were sick or even over who got the biggest scoop of mashed potatoes at Thanksgiving every year.” Inheritance is a […]
These days, patients are often transferred from a hospital to a nursing home to recover. But, then, some never leave. “The only thing I worried about was not getting out,” Holmes says now. She kept asking her husband and one daughter: “‘You’re not going to keep me here are you?’” Your elderly loved ones may […]
Mara has bravely faced what millions of Baby Boomers are facing: their aging parents aren’t going to stay financially competent forever … If Mara could give you a heads up today, she would tell you to note those little signs of a parent not being sharp with finances. Dementia is not really a disease in the […]
Here is some background on what is known as the “annual gift-tax exclusion.” You can give away as much as $14,000 this year to anyone you want—or to each of as many people as you wish—without any tax considerations or burdensome paperwork. The recipient can be anyone you choose. Many taxpayers are confused when it […]
