Choosing the right executor is essential for your senior’s estate An essential part of creating your older adult’s estate plan or will is to choose an executor – someone who will execute (carry out) their wishes after they pass away. Making an informed decision helps them feel confident that their wishes will be fulfilled and family conflict will be minimized. This choice…
A will gives seniors peace of mind If your older adult wants to be sure that their assets and property will be given to certain people or organizations after they pass away, they must have a will. A will is especially important if your older adult plans to give assets to their unmarried partner, close friends, or charities. Otherwise, the court decides…
Being a caregiver means getting legal paperwork in order Caregivers often put off addressing the “legal stuff” because it can be confusing and difficult to know where to start. But when you’re caring for an older adult, a vital part of the job is making sure essential legal documents are in order. That allows someone to help with financial or medical decisions…
Medicaid wants their money back Medicaid is a program that pays for healthcare for people with limited income and assets. It helps low-income seniors by paying for services that aren’t covered by Medicare, like nursing home care and personal care services. If your senior is on Medicaid, you need to know that after their death the state Medicaid program can try to…
Talking about finances with aging parents can be challenging. But without planning and discussion, their assets might not end up where they would have wanted. LendingTree shares tips on how family caregivers can help their parents plan ahead to leave a financial legacy according to their wishes. Help aging parents distribute their savings in line with their wishes Caregivers who want…
An estate plan gives seniors peace of mind Creating a will or estate plan is essential for everyone, but especially important for seniors. Of course you don’t want to think about your older adult passing away, but eventually, it will happen to all of us. On the practical side, it’s important to remember that your older adult most likely has final wishes…
A durable Power of Attorney is essential for caregivers It’s hard to think about, but a day will come when your senior won’t be able to make decisions for themselves. That’s when you’ll have to step in to manage their finances or decide what kind of medical treatment they should have. If that day comes, you’ll need a durable power of attorney (POA).…
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