When is Guardianship of an Elderly Parent Needed?

When people think of guardianship, they often think about a minor child in the care of a designated adult family member or friend, or perhaps a disabled adult child who needs care after turning 18. However, guardianship of an elderly or aging adult, usually a parent, who is losing their physical and mental health capacities is also fairly common. While the process is similar, there are some distinct differences when

Signs of Elder Financial Fraud and Elder Abuse

Elder financial fraud and elder abuse and two important topics that are important to discuss and be aware of as we age.  We like to think that these issues won’t hit us or our loved ones, but elder abuse is much more common than many people realize. According to the World Health Organization, around 1 in 6 people 60 years and older have experienced some form of abuse in the

Estate Planning Terms to Know

National Estate Planning Awareness Week was first established in 2008 to help the public gain a better understanding of the importance of estate planning. Estate planning is one of those things that everybody needs to do, yet only approximately half of Americans have an up-to-date estate plan in place. Regardless of your age or financial situation, you need estate planning to protect you, your family, and your assets should you

Estate Planning During a Pandemic

Whether you are young or old, COVID-19 has us all thinking about our mortality and health more these days. This pandemic took us all by surprise, did you have your affairs in order before? According to one study, approximately 1/3 of all Americans did not have an up-to-date estate plan as of 2017. We expect and hope that number will rise in 2020. Now that we are all thinking about

Alzheimer’s Disease and What to Know for Your Estate Plan

Did you know that there are over 400 different types of dementia? The number of different types is staggering but the most common cause of dementia is due to Alzheimer’s disease. At least, that’s what the Alzheimer’s Association‘s published 2020 Facts and Figures reports. Other relatively common types of dementia include vascular, Lewy Body disease, frontotemporal dementia, and early-onset dementia. No matter the type, dementia can be traumatizing for both

Isolation May Increase the Risk of Elder Abuse

Older adults represent some of the most at-risk American citizens because of COVID-19. Many of them are choosing to stay home to lower their risk of infection as the rest of the world begins to open up. With the coronavirus spreading throughout communities and no sign of a vaccine yet, elderly adults are choosing to put their health before their well-being. The American Bar Association (ABA) reports that an unfortunate

When It’s Time To Designate a Power of Attorney

One of the biggest questions we may ask ourselves is who should we trust to manage our financial and healthcare decisions when we no longer have capacity to do so ourselves. This is a tough question for some because designating a power of attorney (POA) is a decision of trust, something not to be taken lightly. Otherwise known as an agent to your principal, a POA has the legal authority

New Law Makes it Easy to Report Elder Financial Abuse

The Economic Growth, Regulatory Relief, and Consumer Protection Act was signed into law on May 24, 2018. There are a few important factors of the Act to keep in mind: There is a section in the Act that was once a stand-alone bill from Sen. Susan Collins (R-Maine)– designed to encourage elder (age 65 and older) financial abuse reporting. The Act does not mandate that financial institutions report financial abuse,

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