Our Estate Planning Blog
For couples over 50, living together has a lot of appeal and is on the rise. In fact, the number of unmarried couples who are 50+ shot up 75% between 2007 and 2016, according to the U.S. Census Bureau.
If you are single or are a widow or widower and will likely never return home after moving into a Medicaid certified nursing home, the house can be sold, and planning might be done with the proceeds of the sale.
After you have narrowed your search down to those facilities, you should visit each one with the person who will be living there.
Easier-to-read form highlights retirement income streams and other tax benefits for citizens 65 and older.
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.
Imagine that tomorrow you suddenly become severely ill or incapacitated. Who would take care of your finances? How would they do it? If you don’t have a durable power of attorney, others, including your spouse, may not be able to conduct all your financial affairs on your behalf.
You should have a candid discussion with your parents about the point at which monitoring would feel intrusive.
If you and your close relatives are opinionated and speak your minds, caring for your aging adults might be a challenge.
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