Whether you have your finances in order or are struggling to get ahead, receiving notice that someone is holding you responsible for another person's debt is rarely welcome news. In your case, you may be concerned that the nursing home or long-term care facility where your parent is staying will inform you that you owe thousands of dollars in unpaid expenses for your parent's care.
Estate planning is about more than just passing assets from generation to generation. A balanced estate plan also addresses how your affairs should be handled in the event that you are unable to manage them yourself.
Estate planning can be a complex process. Those attempting to put together a balanced plan likely find themselves navigating difficult questions like:
Baby Boomers have a reputation for breaking through old stereotypes, and they're at it again. Not be outdone by previous generations, Baby Boomers are living longer and more actively. Boomers are taking up new hobbies (paddle boarding, anyone?) and traveling to foreign destinations (off to Europe to explore our roots!). They are grabbing retirement with both hands and making the most of every minute.
Estate planning can be a challenging topic for many people to embrace. Not only can it be frightening to consider what will happen to your assets after you pass away, it can be difficult to think about how you will pay for the care and attention you need as it gets harder and harder to fend for yourself.
Elder law clients many times have issues maintaining the SSI eligibility after an inheritance or personal injury settlement.