Couples who are in an unmarried relationship need to engage in additional estate planning and assure they have a valid will to assure that their assets and property are distributed after their death as they intended. Otherwise, the property may go to a family member or other person challenging a will.
Even caregivers who are relatives might mistreat the elderly
Another family member is taking care of your aging parent, which can be cause for worry as well as relief for you. You might have the peace of mind knowing that another loved one is taking care of your parent, instead of him or her having to live in a nursing home. However, you could also worry that your mom or dad is not receiving the best care or that the caregiver is abusing her or him. The following information is important for you and other Michigan residents with parents who need care during their later years.
What is a living will?
End-of-life decisions are an unfortunate but necessary part of long-term planning. Like wills, these plans should be considered as early as possible. A living will is one mechanism used to declare these intentions.
Medicare reducing Social Security COLA
Medicare and Social Security is an important part of long term planning for seniors for payment of their medical and other important needs. Recent changes to Medicare premiums reveals the interrelationship between these programs.
Consolidating finances
Almost everyone may face the possibility that they become unable to make financial decisions or take care of their daily needs. Experts claim that the ability to make financial decisions generally peak when a person becomes 53 and further decrease after 60. Long-term care planning should include jettisoning and consolidating finances, oddly referred to as death cleaning, which can help guard against financial scams, poor judgment and unethical financial advisors.
