ARTICLES

Financial insecurity is a major concern for many US seniors due to current inflationary pressures. The anxiety many Americans feel living on a fixed income is reduced by looking to government programs to potentially qualify for assistance.

Elder law and estate planning are often used interchangeably; however, there are significant differences between them. While some overlap exists between the two, learning and implementing strategies from both law practice types is crucial to prepare for successful aging and preserve a family legacy.

It is obvious and right to divide assets equally among children in a variety of situations. However, in some families, the same inheritance for all children may not be appropriate, can deplete the estate's assets due to litigation, or cause other family problems.

Properly drafted wills address who receives your assets and properties after your death when they are properly filled out. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution, your executor makes a public notice of your death, files your final taxes, and records your will in probate court.

If you were critically ill or accidentally injured and could no longer make decisions about your healthcare, what would you do? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive can outline your wishes so that your loved ones can make informed decisions about your care in an emergency.

As a result of the COVID-19 pandemic, more Americans are aware than ever that they need a will, a living will, and perhaps a living trust. Still, this knowledge is not translating into estate planning action. No matter your age or asset level, having a will is beneficial.

It can be a challenge to discuss your parents' will or estate plan, or lack thereof, with them. Many adult children put off having the “dreaded talk” with parents and are unprepared when an unforeseen event like an accident or illness happens.

A traditional family thirty years ago consisted of a husband and wife who were married young, bought a house, had children, and worked towards financial stability and security.

A comparison of estate planning and elder law shows some overlap while both provide important protection for you and your family. The two terms tend to go hand in hand, but there are some differences.

Advocates for loved ones in nursing homes are vital to their well-being because influenza, pneumonia, COVID 19, and other contagious diseases disproportionately affect residents.. According to the American Family Physician Journal, a flu outbreak in a nursing home often affects 20 percent or more of the residents.