Wealth and Honor

Helping Families Navigate the Financial Challenges of Age Transitions

Supreme Court hears case of 94 year old’s home foreclosure by the state.

The US Supreme Court heard arguments in a case involving a 94-year-old woman who lost her home over unpaid property taxes. While the woman, Geraldine Tyler, does not dispute that Hennepin County had the right to foreclose on the $40,000 property, she argued that the county had violated the Constitution’s takings clause by keeping the $25,000 left over after the property was sold.

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I told ChatGPT that I have six months to live…Then this happened.

In 2016, I wrote an article on Linkedin, about the evolution of financial planning as I have experienced it over the past thirty-five years. The title of that article was “Numbers don’t lie, they’re just usually wrong” and in it, I mentioned that no financial planning algorithm had advanced enough to demonstrate empathy, and that if it ever does, I’ll know it’s time to retire.

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Indiana Case Highlights Family Tensions in Selecting Financial Caregivers.

Most people should be able to choose a loving and honoring adult child or family member as a financial caregiver. An Indiana case highlights the importance of integrity when making the choice.

In the case of Biggs vs Renner, Terri Renner and Sherry Biggs are siblings locked in a court battle over their mother’s care, with Terri claiming that Sherry abused her position as agent under her mother’s Power of Attorney, and used their mother’s funds for her own benefit.… Read the rest

Most People Are Confused by Medicare

Financial Planners are failing big time to educate their age 65 or over clients about one of the most significant financial decisions they will make. Medicare applicants are confused about which health plan is right for them. Many seniors do not know enough about plan components, are bombarded by Medicare advertising, and lack the knowledge to choose a plan that meets their needs.… Read the rest

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