Very few of us want to intrude in our parents’ lives. It is only when we begin to notice certain “things” about Mom and Dad that we begin to consider stepping in. Problems such as memory loss, dementia, diminished sight or hearing, or irrational investment or spending decisions, are signs it’s time to intervene. … Read the rest
Helping Families Navigate the Financial Challenges of Age Transitions
Category: Uncategorized
Annuities were once simpler financial instruments than they are today. Issued by insurance companies, annuities offered savers a guaranteed interest that compounded tax free until the funds were needed at a later date. Now, they are highly complex financial instruments with a variety of features, interest options, charges, and penalties.… Read the rest
According to the U.S. Government Accountability Office, nearly a million individuals relied on organizational payees to manage their Social Security benefits in 2018. Due to an aging population, more beneficiaries may need organizational payees in the future. These beneficiaries are among the most vulnerable because, in addition to being deemed incapable of managing their own benefits, they lack family or another responsible party to assume this responsibility.… Read the rest
On October 1, 2019, the Centers for Medicare & Medicaid Services (CMS) began implementing a new payment system for Medicare-covered nursing home care. The payment system is called the “Patient Driven Payment Model” (PDPM). PDPM creates a new set of financial incentives for nursing homes to consider when admitting and discharging residents, as well as providing resident care.… Read the rest
Today happens to be my birthday…and I’m spending it not writing this post, but trout fishing in Colorado, so happy 59th birthday to me! I will relish this last year of my fifth decade, but I’m also in denial that it’s all downhill from here.… Read the rest
An elderly couple in Royal Palm Beach Florida has racked up over $400,000 of fines from citations received due to the deplorable condition of their home.
Ralph and Marguerite McCormack, age 75 and 71, are reported to have dementia, have no children or close family, and suffer from a hoarding addiction. … Read the rest
Kaitlyn C. Meeks recently published a Comment entitled, Losing Your Mind, Losing Your Rights?: A Certification Process to Safeguard Alzheimer’s Patients and the Moving Target of the Lucid Interval, 44 U. Dayton L. Rev. 79-109 (2018). Provided below is an introduction to the Comment.… Read the rest
Many adult children of aging parents find it difficult to talk to their parents about their finances. It is no wonder that these same adult children find it difficult to discuss their own wealth with their grown children.
… Read the restParents would be remiss if they did not talk to their children about drinking and driving, using drugs and, of course, sex.
A New Jersey appeals court ruled that a nursing home has no standing to lodge a conversion claim or infringement of fiduciary duty against the daughter of a resident who transferred the resident’s cash to herself, resulting in a Medicaid penalty period.… Read the rest
They say that talking to yourself isn’t crazy as long as you’re not answering your own questions. Well reserve me a padded room because lately I’ve been having conversations with myself, and not just with myself, but with the 78-year-old version of me. … Read the rest
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