Jean opened the envelope that contained her aunt’s will and began to laugh. “Oh, Aunt Sarah. You and your post-it notes.” She shook her head. Jean pulled out the document. The entire front page was covered in small yellow squares of paper. “Guess she changed her mind, a few times.” Her sister, Joan, frowned. “What a mess. How are we…
Elder abuse is a common topic and we hear frequent warnings about scams by caregivers, email and telephone scams, and even being taken advantage of by children or grandchildren. While marrying for money is not a new concept, it is quickly spreading into the area of elder abuse. Caregivers, or people wanting to get close to an elderly person with…
Divorce, remarriage, and blending families are treacherous enough waters to navigate, let alone wondering if all sides of your family will get along when you die. Those are all critical junctures to update your estate plan, whether it be a trust, a will, power of attorney, health care directive, or just beneficiary designations. If all aspects of your estate plan…
It starts out innocently enough, you bank with Chase, but your new mortgage is through Bank of America, and they offer you a half a percent discount on your mortgage if you open a new account with them. Then a local credit union offers a great rate on a car loan, so you open an account with them and become…
Margo stormed into her diner, slapped a newspaper down in front of her sister, Irene, and exclaimed, “Look at this! This could happen to us!” Irene glanced at the paper and her face scrunched up in confusion. “What on earth do we have in common with Tom Petty?” She peered up at her sister. “He died, you know.” Margo glared…
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…
Something we see quite often with our older clients is a joint bank account – parent’s money, child added to the account for convenience of the parent. It really can be very convenient, so, despite the list of problems I’ll get to in a minute, for some families in some situations, adding a child to your bank account can be…
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,…
If the title of this blog caught your attention, possibly you have found yourself questioning whether your financial advisor’s recommendations for your portfolio are in line with the goals you both discussed. Here are a few questions to ask yourself to see if your situation may need attention: Have you seen a dramatic drop in your account value? You’ve been…