Parents in Worcester, Massachusetts rely on a lot of outside help when it comes to raising their children. From family members to school systems to friends who pass on advice and hand-me-downs, it really does take a village to raise a child. When it comes to estate planning, however, it is up to you to determine what is best for your minor children. [Read more…]
Choosing the Right Executor for Your Estate
In the event of illness or incapacitation, most individuals have an idea as to how health matters and property distribution should proceed. However, delegating complete authority over your estate administration to one individual to serve as Trustee, Personal Representative (formerly Executor in Massachusetts), and agent under a Health Care Proxy and financial Power of Attorney can be a significant and oftentimes difficult decision. Personal integrity, familiarity with the needs of your estate, financial knowledge, competency, and willingness to take on such responsibilities are the more obvious qualifications of a Personal Representative, but there other important considerations. [Read more…]
I Take Care of My Mother. Can I Legally Get Paid for That?
As the number of family members providing care for aging parents increases, the solutions to find help with loss of income because of time off from employment for caregiving has become a major concern for many. The demands on both the time and energy needed to provide the needed care can make it impossible to maintain both a full time job with full time caregiving. [Read more…]
Fall Prevention in the Aging Population
From time to time I like to feature local experts with tips and advice for improving senior’s lives. This week’s blog is written by my colleague, Dr. Don Pelto of Central Massachusetts Podiatry. Dr. Pelto specializes in many foot ailments and writes about how you can be proactive by avoiding falls among elders. [Read more…]
The Difference Between Alzheimer’s Disease and Dementia
Many people use the terms Alzheimer’s disease and dementia interchangeably, but they have very different meanings. Although dementia is a group of symptoms that include memory loss, the term itself doesn’t explain what is causing the symptoms. Alzheimer’s disease is the leading cause of dementia, but there are many other causes. [Read more…]
EAEDC Financial Planning for Rest Home Care in Massachusetts
The limited number of subsidized Assisted Living slots has made Rest Homes a viable alternative for many physically and mentally impaired elders in Massachusetts. The care in a Rest Home is greater than that of an Assisted Living facility, but not as encompassing as traditional Nursing Home care. Although Rest Homes are less expensive than Nursing Home care, they are not a long term solution for many families. If financial planning begins early, Emergency Aid to Elders, Disabled and Children (EAEDC) may be an alternative to help you or a loved one cover the costs of continued Rest Home care. [Read more…]
Grandparents Raising Grandchildren – Legal Options and Financial Support
With the decline of the traditional nuclear family, individuals over 50 are increasingly vested with responsibility for the caretaking of young children and adolescents. Financial problems are the primary cause of seniors having to assume more “traditional” child-rearing duties. Whether due to a divorce, military service, substance abuse, mental illness or other secondary issues, some adults may be unable or simply unwilling to be good parents themselves. [Read more…]
Marrying Later in Life: Do I Need a Prenup?
Welcome to the new singles scene. With the average life expectancy in the United States about 78 years old, people are living longer and healthier lives than ever before and more and more seniors are falling in love. However, what can be a thrilling and romantic time for an older couple can also be an anxious time for family members that have expectations regarding inheritance. It is worth noting that once married, a spouse will automatically inherit, at the very least, a portion of deceased partner’s estate, unless measures are taken to avoid this. [Read more…]
Protecting the Family Cottage from a Medicaid (MassHealth) Spend Down Through an Irrevocable Trust
An irrevocable trust is an excellent tool when preplanning for Medicaid benefits. Anything that is put into the irrevocable trust is protected from a Medicaid spend-down if five years pass from the date of the transfer. [Read more…]
When Should I Update My Estate Plan?
An estate plan that was suitable a few years ago may no longer be suitable today. One should look to update their estate planning every three to five years or even sooner if you experience a dramatic change in life circumstances. [Read more…]
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