Wealth and Honor

Helping Families Navigate the Financial Challenges of Age Transitions

Category: Uncategorized (page 1 of 2)

Deciding which sibling deals with “nursing home stuff.”

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

Free Booklet on Understanding Annuities

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

Who is watching over the nursing home managing Mom’s Social Security?

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

What the new “Patient-Driven Payment Model” could mean for Medicare nursing home care.

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

To live longer, here are some steps you can take – The Washington Post

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

Elderly hoarders must pay up or lose home. The Times – Apalachicola, FL

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

Losing Your Mind, Losing Your Rights?

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

4 Reasons Parents Don’t Discuss Money (and Why They Should)

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.

Parents would be remiss if they did not talk to their children about drinking and driving, using drugs and, of course, sex.

Read the rest

Nursing home has no standing in suit against resident’s daughter.

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

This Photographer Asks Elderly Couples To Pose For Engagement-Style Photos | HuffPost Life

Sujata Setia captures the love and romance between couples who’ve been together for decades.

Source: This Photographer Asks Elderly Couples To Pose For Engagement-Style Photos | HuffPost Life

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