A comfortable, secure retirement is one of the biggest financial goals you can strive for. Therefore, as you’re saving and investing in pursuit of it, it’s crucial to separate fact from fiction—otherwise, your plan could go off track.
If you are concerned about incurring debt after a family member’s death or are worried how your own debt will impact your family, here are some things you should know.
Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.
It is critical that parents and grandparents give careful thought to any gift of money or bequest in an estate plan, when the recipient has special needs.
While symptoms of Alzheimer’s and dementia do overlap, they should be treated as separate entities to best address the conditions medically.
This fall, older savers who are feeling generous may want to consider using their individual retirement account to help fund their favorite charities.
If you are the parent of a person with special needs, you are well aware that the role you play is very different than it may be for other children. Properly planning to meet their financial needs, both in the immediate and long term, is a critical part of supporting your child. This support must often continue well past the typical age of adulthood, which means parents need to put in place financial tools to care for their children, in the event of the parents’ death.
Estate planning generally focuses primarily on lifetime protection and post-death distribution of assets. Special needs planning focuses primarily on the individual beneficiary’s lifestyle and care needs.
It is estimated that by 2040, the number of Americans living with Alzheimer’s, dementia or other cognitive disorders is expected to double to close to 12 million due to the aging population, according to a recent study by RBC Wealth Management and Aon.
It’s important to understand that Medicare Part A and Part B leave some pretty significant gaps in your health-care coverage.
