Finn slapped the pile of envelopes on the kitchen table and grunted at his wife, Lola. She peered at him over her coffee mug and gestured toward the pile. “What’s this?” “Credit card bills. For Mom and Dad.” Lola frowned. “How is that possible? We have responsibility for their financial affairs. We pay all of their bills. They live in…
“Retiring certainly isn’t for the faint-hearted,” Lily said as she shuffled through a pile of papers on her kitchen table. “I can’t believe all of this paperwork.” Her husband, George, scowled. “Why are you even messing with that stuff? We decided not to claim Social Security for a few more years so we can maximize the benefit. And you’re not…
The population of seniors in the United States is growing rapidly. Data from the U.S. Census Bureau indicates that people 65 and older will make up 20 percent of our country’s population by 2030. Along with this increasing population come increasing reports of elder financial abuse. It is only going to become more and more important for all of us,…
There are several kinds of disability income benefits available to a worker who becomes unable to work due to an injury or illness. This article focuses on private disability insurance policies or plans provided by employers that are governed by a federal law known as the Employee Retirement Income Security Act of 1974 (“ERISA”). Applying for long-term disability benefits under…
Linda sank down into an armchair and pulled off her hat. “I hate funerals and this one was really tough. I am really going to miss Aunt Millie.” Her sister, Mary, sighed. “I know. But I’m glad we could be there for her, her being all alone after Uncle Fred died.” “But now the hard work begins,” Linda said. “Aunt…
Ellen glared at her former daughter-in-law, Lola, and sputtered, “You want to do what?” “I want to use the sperm Robert stored before he died to conceive a child. I mean, he froze it after he was diagnosed with cancer so we could have children. We never anticipated that he would die. But it’s still sitting there, and I want…
Laura was worried about her 80-year-old mother. “She gets around well enough, but sometimes she needs help with household tasks, such as cleaning, grocery shopping, and laundry,” she told her friend, Debra. “And she claims she can’t afford to hire someone to help. But neither can I. And if she doesn’t get the help she needs, she may have to…
I recently attended the Special Needs Planning Symposium. The sessions were all very informative, but it was the opening session that really stands out for me, ‘Proactive and Next Generation Planning for Families That Include a Loved One with Disabilities.’ The panel of presenters in the session really brought to light how important it is to consider the needs of…
Sally Janes could not wait to retire.
She and her husband, Ben, had been saving for retirement since their children had completed their college degrees. They decided the “magic number” was age 65, when they would qualify for 90 percent of their Social Security benefits. Combined with their respective retirement plans and savings account, the money from Social Security would permit them to live in comfort for the rest of their lives.