Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
Some health care facilities in our area say they are seeing more cases of early-onset dementia than ever before.
Until now, the terms of service for each individual site have determined who has ownership and access after a death and whether the assets are deleted, frozen or can be transferred.
My wife and I have agreed to sell our house to our son. The bank-appraised value of the property is $700,000 and we are selling it to him for $340,000, which is the amount of the mortgage. How will the $360,000 be treated and are there tax consequences?
‘Aging in place’ is what most of us want—to stay home in our comfortable environment as we age and receive care in the home when needed, rather than moving to a nursing home or assisted living facility.
The shameless junkie ex-husband of Amy Winehouse is making a $1.4 million legal claim on her estate —eight years after her death.
If you haven’t discussed your parents’ long-term financial goals with them, you aren’t alone.
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.
Nursing home expenses and even funeral bills might initially be ignored or delayed during a time when survivors are seriously concerned about final VISA or Mastercard bills.
When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets—and they also deserve your attention.