As we have shared many times, the majority of Americans — 77% of people age 50+ — say they want to remain in their home for as long as possible — sometimes referred to as “aging in place.” For many people, at the heart of this decision is a desire to remain in control of [...]
For some people, creating a trust as part of their estate planning process can be a savvy move to protect their assets and their legacy. But with so many different types of trusts, it can be confusing to know which type is right for your unique situation and objectives. Let’s take a look at what [...]
We all make countless decisions every day. Some are mundane, like what to have for breakfast. Others are much more consequential, like choosing a career, picking a life partner, or getting that tattoo. At the heart of every decision we make, there is a thought process that takes into account risks and rewards, past experiences, [...]
When family caregivers and home health care providers are no longer able to meet a person’s care needs, some families make the decision to move their loved one to a skilled nursing facility, also called a nursing home. It’s important to understand the potential costs of long-term care in a nursing home as well as [...]
In last week’s blog post, we shared how a home care provider’s assistance with activities of daily living (ADLs) can help older people remain in their home and independent for as long as possible. But we also shared that the cost of an in-home care provider is not typically covered by Medicare; it must be [...]
You’ve probably heard the quote “Getting old ain't for sissies,” which is typically attributed to Bette Davis. Most of us would agree! As we grow older, our bodies often start to feel the wear and tear of a lifetime of use, and in some cases, a health issue or even a health crisis may arise. [...]
There was an article posted recently on CNN.com about the challenges some adult children have when initiating a conversation with aging parents about their future. The article notes the reluctance of many older people to have “the talk” and plan for the “what ifs” that come with their mortality. Oftentimes, the article explains, people prefer [...]
Surveys show that one of the top reasons older adults delay or avoid a move to a senior living community, such as a continuing care retirement community (CCRC/”life plan community”) or other independent living community, is the concern over price and affordability. It’s understandable. Moving to a retirement community is a big enough decision on [...]
A couple of weeks ago, we wrote a post answering a question we sometimes get about whether it’s wise to pull money from an individual retirement account (IRA) to help cover the cost of an entry fee at a CCRC or life plan retirement community. As explained in the post, in some cases, this can [...]
Choosing the right life plan retirement community (i.e., continuing care retirement community or “CCRC”) is an important decision, impacting your quality of life and your finances. If you utilize the services of a financial advisor (FA), it’s likely you will seek their guidance in analyzing the potential impact of this move on your estate. The [...]
