Whether it is to qualify for Medicaid, avoid probate, or reduce your tax burden, transferring ownership of your home to your adult child during your lifetime may seem like a smart move. But in nearly all cases, it is actually a huge mistake, which can lead to dire consequences for everyone involved. With this in …
3 Reasons Why Transferring Ownership Of Your Home To Your Child Is A Bad Idea Read More »
Having the money conversation with kids can be difficult. As we all know, not all kids are created equally. Having an understanding of the family finances is key to building and maintaining generational wealth.
Multi-generational households are becoming the new (or maybe it is really old) in vogue way to handle the care of aging parents. And we are all for it so long as you consider the implications and set your family up for success. With Mom or Dad moving in, you can anticipate some extra financial and …
The Unexpected Costs of Caring for Elderly Parents In Your Home Read More »
With people living longer than ever before, an increasing number of seniors require long-term healthcare services in nursing homes and assisted living facilities. Such care is extremely expensive, especially when it is needed for extended periods of time. Traditional healthcare insurance does not cover such services. While Medicare does pay for some long-term care, it …
What You Should Know About Long-Term Care Insurance Read More »
In the first part of this series, we discussed the early warning signs of diminished financial capacity in the elderly. Here, we will discuss planning strategies that can protect your loved ones form incapacity of all kinds.
With more and more Baby Boomers reaching retirement age each year, our country is undergoing an unprecedented demographic transformation that has been dubbed “The Greying of America.”
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