May 5th 2009 Newsletter
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Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones, and such accounts are sometimes referred to as “the common person’s estate plan.” But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. |
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The $250 stimulus payment for Social Security beneficiaries, which is scheduled to arrive by the end of May, will not be considered income to nursing home residents on Medicaid. |
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Book Review: The Boomer Burden: Dealing with Your Parents’ Lifetime Accumulation of Stuff |
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Nearly Two-Thirds Face Risky Retirement Due to Long-Term Care Costs |
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A new report by the Center for Retirement Research at Boston College finds that nearly two-thirds of U.S. households are at risk of being unable to maintain their standard of living in retirement when possible long-term care costs are taken into consideration. |
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Tips for Preventing, Detecting, and Reporting Financial Abuse of the Elderly |
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As the economy worsens, incidences of elder financial abuse are reportedly on the rise. The elderly are particularly vulnerable to scams or to financial abuse by family members in need of money. |
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