When Is Guardianship of an Elderly Parent Needed?
When people think of guardianship, they often think about children or disabled adults who need care. However, guardianship of an elderly or aging adult, is also fairly common. While the process is similar, there are some distinct differences between adult guardianships and minor guardianships. Additionally, the legal guardianship process can be complex. At Michaelson Law, […]
When to Talk About Your Parent’s Financial Future
Finances is one of those topics that many families avoid talking about. The stigma around talking about money can leave many wondering what to do as our parents get older. But financial experts agree that waiting to talk about finances with your aging parent is a mistake, especially if they are already experiencing cognitive decline […]
Estate and Long-Term Care Planning for Veterans
Are military veterans are permitted to use their Department of Veterans Affairs benefits to help cover the cost of long-term care? The answer is, unfortunately, complicated. For example, a much-underused pension benefit known as Aid and Attendance can provide some money to cover costs for daily living assistance. Aid and Attendance benefits may even be […]
Social Security Changes Coming 2021
Every October, the Social Security Administration (SSA) publishes upcoming changes to its social security program. The social security program is dynamic and impacts nearly 65 million people as of 2020. In 2021, social security payments will grow by 1.3% and the changes made will take effect on January 1. These changes can impact your retirement age, how […]
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 […]
Aging in Place: Tools and Technology for Seniors and Caregivers
Technology is central to 21st century life in America. It’s also becoming surprisingly popular among senior populations as tech companies target this growing market demographic. By 2030, AARP projects that close to 132 million Americans aged 50 or more will spend more than $84 billion annually on technology products. Today, 91 percent of people aged 50 […]
Should I Add My Kids to My Bank Account?
Many clients walk into Michaelson Law saying that they want to leave their bank accounts to their children after death. The easiest solution might be to just make the children joint owners, but that is not always the best course of action. Risks of Joint Ownership The idea of making your kids joint […]
Alzheimer’s Disease: 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, […]
Isolation May Increase the Risk of Elder Abuse
The American Bar Association (ABA) reports that an unfortunate consequence of continued isolation increases the risk factors for elder abuse and exploitation. 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 […]
