It is estimated that 2.7 million grandparents are raising their minor grandchildren in their homes. The reasons for this are varied. The birth parents may be unable to care for their children because of physical or mental illness, substance abuse, incarceration, homelessness, poverty, or unemployment. In many
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
In last week’s blog post I explained some options for our hypothetical client, Jane Doe, who has a limited family and friend support system. Neighbors, friends from different walks of life and professionals both on the health care and legal/financial side can be alternatives. I have found
I received a reader email a few weeks back asking me to write about aging seniors who have no family or friends to rely on. I wrote about this topic last January (see blog posts 1-2-17 and 1-9-17) but we are seeing the scenario with increasing frequency,
A few years ago I wrote about the number of clients calling our office who are getting notices of substantial rate increases on their long term care insurance policies. Since then it has been a problem that has only increased in frequency. An article this week in
A home equity conversion mortgage, commonly known as a reverse mortgage, allows seniors to tap into the equity in their home. Unlike a traditional mortgage, the borrower does not make ongoing monthly payments to pay off the loan. Repayment is not required until the home is sold,
With all the news stories about Hurricanes Harvey and Irma, the destruction caused to Texas, Florida and Caribbean islands, and their aftermath, one story caught my eye. The deaths of 8 nursing home residents in Hollywood, Florida highlights the especially vulnerable position that the elderly face in
Chances are a QLAC is not something you’ve heard of but over time that may change. It stands for Qualified Longevity Annuity Contract and it’s a relatively new investment option. The term “qualified” may be a tip off to some that it is a type of retirement account investment.