Many people are intrigued by the idea of an irrevocable trust, especially when they hear it can protect assets from long-term care costs, creditors, or probate. Then they encounter the phrase “giving up control,” and immediately hesitate. The fear is…

Grandparents often feel a strong desire to support their grandchildren as they watch the next generation grow and pursue new opportunities. Whether it’s helping with education costs, contributing to a wedding, or providing assistance toward a first home, many grandparents…

Debt is one of the most common reasons people delay estate planning. Credit cards, student loans, mortgages, and personal loans can make it feel premature to create a will or trust before finances are fully in order. Many people assume…

Elder financial abuse is a significant issue affecting many older adults nationwide. It involves someone exploiting or misusing an older person’s finances or assets for personal gain. Often, the perpetrator is in a position of trust, be it a family…

Over the course of just one year, from 2020 to 2021, nearly 1 million more seniors in the United States found themselves living below the poverty line, according to data in a newly released government report. The U.S. Census Bureau’s annual…

If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon. Passed in March…

On October 18, 2018, the Department of Veterans Affairs (VA) instituted a number of important rule changes affecting a service member’s eligibility for the Veterans Pension, a needs-based benefit for certain wartime veterans, their surviving spouses and dependent children. This…

Family wealth and inheritance can have a significant impact on the younger generation’s options and standard of living. But, contrary to popular belief, that impact isn’t always positive. In one 25-year study of thousands of families, researchers found that about…

Receiving a significant inheritance can be life-altering. For those just starting out or just making ends meet, an inheritance may mean the ability to establish a retirement account or purchase a home. Inherited money can pay for a college education…

When you think of financial elder abuse, the first thing that comes to mind is probably a caregiver siphoning off an older person’s life savings or a shady new “friend” worming his way into a lonely widow’s confidence and sweet…