The ability to age in place — or live in your own home or community as you age — is based on health, home accessibility, social support, and financial considerations. Therefore, it’s important to carefully assess your unique situation and make informed decisions about aging in place or other housing options in Omaha, based on specific needs and circumstances. A report from the University of Michigan cited in Seasons’ article entitled “Pandemic has made seniors more confident about aging in place, study reports” found that only 15% of seniors had given home modification much consideration. However, it’s a good idea for families to use this time to plan ahead for either aging in place or choosing other housing options based on the choice of the senior and key considerations. It’s important to center seniors in the decision-making process and talk to them about their needs early. “A portion of seniors are aging in place but are also stuck in place. They don’t have the financial resources to help them move or relocate or downsize, or they cannot afford to live in the nursing homes.” Kiplinger’s recent article, “Six Key Housing Factors to Consider as You Age,” advises that where you…
Gathering with the family for a Fourth of July celebration is a heartwarming time for the family’s oldest members. It’s a day to celebrate our great nation’s independence, but also a time to take a long look at the generations of the family gathered around the table, making you proud and hopeful for the future. This is also the time to consider what plans are in place to ensure you can maintain your own independence in the coming years. This includes creating or updating your estate plan, to be sure it reflects your wishes for your future and your family’s future. Your planning may also include preparing for long-term care and taxes. Planning for incapacity is an important part of your estate plan. It makes it possible for your family to take care of you, should you become too sick or injured to be able to manage your own affairs or communicate your wishes. Use the following checklist to know which documents to look for in a review of your existing plan or to create a new one with our Iowa Falls elder law office. Medical Power of Attorney: This document names a primary and secondary person to make health…
The term ‘estate planning’ conjures specific ideas about leaving assets to heirs, fighting over Mom’s jewelry and lengthy entanglements with the probate court.
In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.
Elvis’ estate planning failures certainly adversely affected the life of his daughter, Lisa Marie, and have carried over into issues with her estate.
Unless you’re a member of the Addams family, thinking about death probably isn’t your favorite afternoon activity. However, not thinking about it can cause even more pain when death ultimately does come knocking.
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
When someone passes away, it’s up to their executor to handle the probate process. However, what happens if the executor of a will dies?
After decades of building a solid nest egg, retirement is the time to finally crack into it. Yet, many retirees who were great at saving find themselves less sure about how to spend all that accumulated money.
Congratulations, Dad. You’ve raised your children, who now have children of their own. Despite all the obstacles of recent years, the family is thriving. You feel good about how you’ve led your life and are hopeful about the years ahead. The next thing on your agenda: creating a legacy of caring for your family. This Father’s Day, consider how the actions you take now can strengthen your legacy. Your legacy includes sharing the values and history of your family. The next time a grandchild points their phone at you and asks you what your childhood was like or asks to learn more about your own parent’s journey, don’t be shy. Tell them the stories you were told, even if you don’t have every single detail. Teach your adult children by example the importance of planning for the future. Having an estate plan prepared professionally is not overly burdensome and alleviates stress and expense for the family. If you have an estate plan in place, including a will, Power of Attorney, Health Care Power of Attorney and Living Will, talk with them about it. Make sure they know you’ve already taken steps to protect them, even when you’ve passed. Knowing Dad…