Senior Citizens Face Loss of Buying Power, Study Shows
Inflation affects all consumers, but older Americans are facing an especially dramatic loss of buying power.
Insights into the Changing Landscape of Memory Care
Providing memory care needs is a booming market opportunity for specialized facilities. The number of adults with cognitive impairments is increasing, but the number of caregivers is decreasing, which requires more innovative solutions. While some facilities are stand-alone solutions for…
A Guide to Understanding Generation-Skipping Transfer Taxes
Affluent families have long worried about preserving wealth and ensuring its smooth transfer through generations. In estate planning, the generation-skipping transfer tax (GST) plays a significant role. The US government established the GST to prevent individuals from avoiding estate taxes…
Trusts for Personal Residences
A person's estate planning strategy should aim to minimize their beneficiaries' taxes while protecting their assets. The qualified personal residence trust (QPRT) is a valuable tool in this area. This specialized trust enables individuals to transfer their primary residence or…
Knowing the Probate Process Whether You Have a Will or Not
The probate process usually takes place in probate court and is known to most people as something that happens after someone passes away. Unfortunately, fewer people know that it can be a long and complicated process. It can sometimes take…
Fraud Against Elders
Statistics show that fraud is on the rise in the senior and near-senior age groups. With more and more people online, scammers are becoming more and more adept at mimicking communication resembling tech support, government employees, and romantic partners. Seniors…
Estate Planning for Farms and Ranches
Succession and estate planning can be challenging for farm and ranch property and related livestock, equipment, and other personal property. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful…
How to Navigate the Challenges of Caregiving
The challenges of being a caregiver won't be apparent until you become one. Many people choose to take on this challenge because it involves someone they care for. In the US, 53 million people have assumed this role and then struggled to…
Taking Care of Loved Ones in a Nursing Home
The flu, pneumonia, COVID 19, and other contagious diseases disproportionately affect residents in nursing homes and other long-term care facilities. According to the American Family Physician Journal, a flu outbreak in a nursing home often affects 20 percent or more…
Estate Planning Mistakes to Avoid
Having an estate plan ensures that your assets, interests, and those you care about are protected after you die. Unfortunately, many individuals make costly mistakes without proper advice and guidance from a qualified estate planner. Beyond undermining your intent and…