For many, obituaries play an essential role in mourning. They notify community members of a person’s passing and pay tribute to their life. While the practice of sharing death notices originated in ancient Rome, modern obituaries developed in the 1930s and ’40s. Today’s format typically has four parts: a death announcement, a short biography, a survivors section, […]

The great wealth transfer is underway in America. Through 2045, Baby Boomers will pass down assets worth roughly $84 trillion to Gen Z, Millennials, and Gen X. What constitutes a high-net-worth (HNW) inheritance? In the United States, that number averages nearly $750,000 per inheritor, but can be much higher. Owners of HNW estates typically monitor and amend their estate […]

Among your key estate planning documents are your will, living wills, powers of attorney, and medical directives. Securing these somewhere your survivors can easily access them is crucial. Consider storing other information, like birth certificates, marriage licenses, and medical records, in a secure spot as well. Different Document Storage Solutions Many people today are striving […]

Deciding to end a marriage as an older adult is increasingly common. If your marriage ended later in life, you could be part of the “gray” divorce trend. AARP reports that Baby Boomers, those born between 1946 and 1964, are the generation with the highest divorce rates. Divorce among older adults in the United States has […]

If you are planning to apply for Medicaid, you might not realize that you should think twice before transferring any of your assets. If you transfer assets within five years of applying for Medicaid, you could in fact face a penalty period. During this time, you would not be eligible for Medicaid benefits. An exception […]

You may not foresee ever needing assistance with your day-to-day life. However, research shows that seven in 10 adults aged 65 and older will require long-term care at some point in their later years. Meanwhile, the U.S. population continues to age rapidly. Americans aged 65 or older are on track to total 82 million in the next […]

If you need a medical procedure, you may have to hold off on treatment until you have received approval from your health insurance plan. In many cases, Medicare Advantage and other plans have been denying their patients certain services despite doctors’ orders. (In one survey, medical practices reported that 97 percent of their patients faced such […]

As April marks Financial Literacy Month, it is an excellent time to start improving your financial literacy. Gaining financial savvy can help you handle the challenges and complexities of aging. Although sometimes overlooked, financial literacy is a critical component of aging well. It promotes economic freedom, helping you afford care and housing as you grow older. […]

Four in 10 people believe they do not have enough assets to make a will, according to Caring.com’s 2024 Wills and Estate Planning Study, which surveyed more than 2,400 individuals. This statistic reflects a common misconception about estate planning: that it is only for the wealthy. In reality, estate planning can benefit people across the economic […]

A power of attorney designates a trusted individual to make decisions or conduct transactions on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an ongoing situation. This may sound pretty straightforward. You might be tempted to download a free form to […]