A Pension Hole the Size of Japan’s Economy

                The title of the article in the Wall Street Journal a few weeks ago was intended to turn heads.  (See https://www.wsj.com/articles/the-pension-hole-for-u-s-cities-and-states-is-the-size-of-japans-economy-1532972501?mod=hp_lead_pos7) There has been an increasing amount of coverage in the media about the pension crisis in the country, specifically the underfunding of public employee pensions.  According to the WSJ article public employee pension […]

Read More

Resistance to Power of Attorney – Part 3

                In this week’s post we continue with the topic of power of attorney and specifically how to handle resistance from banks and financial institutions.  Last week I outlined the scenarios in which a bank can refuse to honor a power of attorney.  New Jersey law says that a banking institution does not have to […]

Read More

Resistance to Power of Attorney – Part 2

                Last week’s post again addressed the use of powers of attorney and specifically the problem of encountering resistance by a financial institution.  As I explained, many financial institutions prefer that customers sign their own form of power of attorney and do so in front of one of their employees.  This is for their protection […]

Read More

How to Handle Resistance to POA – Part 1

       I have written several posts over the years on the importance of powers of attorney and the problems many people encounter when trying to use them. It seems that as time has passed the problems have only increased in frequency. Just this past week we received two calls from family members serving […]

Read More

The Declining Pool of Caregivers

                Another article, this time in the Wall Street Journal caught my eye the other day.  It’s about how this country is running out of family caregivers at a time when the need for those caregivers is increasing.               Some of my recent posts have included statistics showing the continued trend of an aging population […]

Read More

The Talk

                I have written in past blog posts about how best to approach the topic of long term care with a parent or elderly loved one.  There are no two situations that are exactly alike so there is no one best way to handle the delicate subject.  It is especially difficult when the senior is […]

Read More

Buzz Aldrin’s Legal Fight

       As the population ages so do our celebrities who face many of the same elder related legal issues as the rest of us.  Buzz Aldrin is yet another example of this.   His story caught my attention last month.  Aldrin, a local guy, was born and raised in Montclair, New Jersey and is known along […]

Read More

What Medicaid Covers – Part 2

       In last week’s post I was telling you about a call I received revealing a very common misconception about Medicaid. Julie will lose her alimony payments in 6 months, dropping her income from $5000 per month down to $1000 per month. She is 69 years old and in good health. She does […]

Read More

What Medicaid Covers – Part 1

         The call we received last week raised a common misunderstanding about Medicaid. Julie called regarding getting Medicaid benefits. Julie is 69 and in relatively good health for her age. She is selling her home and will be moving to a rental unit in a senior housing complex.        Julie […]

Read More

Counting on Inheritance to Pay for Retirement

       A recent study of affluent children between the ages of 18 and 22 caught my eye. The study reported that 63% of 1000 people surveyed in this age group said they believe their financial security in retirement will depend in part on inherited money.        Granted, most of the people […]

Read More