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Home Care Costs Rise Sharply in Annual Long-Term Care Cost Survey

When it comes to long-term care costs, the charges for home care are now rising faster than those for nursing home care, according to Genworth’s 2019 Cost of Care survey. In the past year, the median annual cost for home health aides rose 4.55 percent to $52,624, while the median cost of a private nursing home room … Continue reading

Five Tips for Starting Retirement Planning in Your 50s

When it comes to retirement planning, many Americans find themselves underprepared. A majority of baby boomers (born between 1946 and 1964) and Generation X’ers (born between 1965 and 1978) often end up without retirement savings or don’t have realistic expectations about post-retirement costs. According to the Insured Retirement Institute, only 25 percent of boomers are confident … Continue reading

What To Do If You Are Appointed Guardian Of An Older Adult

Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one’s well-being and you have a duty to act in his or her best interest. If an adult becomes mentally incapacitated and is incapable of making responsible decisions, the court will appoint a substitute decision … Continue reading

What To Look For In A Pre-Paid Funeral Plan

Prepaying for your funeral is one way to ease the burden on your family following your death and make sure your wishes are carried out. But pre-paid funeral plans come with risks, so you need to exercise care when purchasing a plan. Funerals are expensive and can take a lot of effort to plan. To … Continue reading

What To Look For When Buying An Annuity

An annuity can be a useful tool for long-term care planning, but annuities are also complex financial products that are hard to understand. If purchasing an annuity, you need to consider your options carefully. An annuity is a contract with an insurance company under which the consumer pays the company a certain amount of money … Continue reading

How Long Will It Take For My Heirs To Receive An Inheritance After I’m Gone?

Centennial Estate Planning Lawyers Can Help No one likes thinking about their own death. However, planning for the inevitable can give you peace of mind now, knowing that your property, your assets, and your loved ones are well cared for. Colorado’s estate laws give you the tools you need to protect your loved ones and … Continue reading

Most Are Taking Social Security At The Wrong Time

A new report finds that almost no retirees are making financially optimal decisions about when to take Social Security and are losing out on more than $100,000 per household in the process. The average Social Security recipient would receive 9 percent more income in retirement if they made the financially optimal decision. When claiming Social … Continue reading

When You Should Update Your Estate Plan….

Life has a way of moving fast. People come and go. We succeed and we struggle. And the unexpected sometimes greets us at our doorstep. But what do these changes mean for an estate plan? When our circumstances change, we may wonder which changes are significant enough to merit a revision in our final wishes. … Continue reading

Why Was I Told To Disinherit My Spouse?

Unfortunately, one spouse will often become ill before the other. In the event that one spouse needs nursing home care, an attorney will often tell the well spouse, often known as a community spouse, to disinherit his or her spouse. Obviously, the thought of disinheriting a spouse is a very emotional and stressful moment in … Continue reading

What Is A Life Estate

The phrase “life estate” often comes up in discussions of Estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until his or her death, when it passes to the other owner. Life estates can be used … Continue reading