Most people know that they should have life insurance but may put off getting it. Deciding what type of policy to purchase can be intimidating. The staff at Elder Care Direction help families and elderly people navigate the complex issues that may be involved with the aging process and can help you to understand more…
If you or your loved one has Medicare insurance, it will only pay for a portion of his or her medical costs. The out-of-pocket medical costs can be substantial. One type of policy that you can purchase to supplement Medicare is called a Medigap policy. At Elder Care Direction, we can provide some advice about…
When people reach their golden years, some need to have access to more money so that they can supplement their incomes or can help to pay for their long-term care needs. One potential vehicle for giving older adults access to money is a reverse mortgage. This is a type of home equity loan that lets…
A large component of many people’s retirement plans is Social Security and Medicare. If you are nearing your retirement age, it is important that you understand each of these programs so that you can get the greatest benefits from them. Elder Care Direction is able to explain these programs so that you can make more…
If your loved one has named you to serve as a trustee or a successor trustee for his or her trust, it is important for you to understand the duties that you will have. If you are a successor trustee, you won’t have to do anything unless the grantor becomes incapacitated or passes away. If…
According to the U.S. Department of Health and Human Services, a majority of people will need some form of long-term care during their lifetimes. Unfortunately, long-term care can be prohibitively expensive with Americans paying an average of more than $6,000 per month for semi-private rooms in nursing facilities. If you have an elderly loved one,…
When you inherit a house after your loved one has died, you might wonder whether you are able to take the home sale exclusion when you sell it. You are not able to take the exclusion, but you might benefit from the rules for a stepped-up basis for inherited homes. The professionals at Elder Care…
Many people choose to buy life insurance when they are younger. People might purchase life insurance when they have children, get married, and assume other responsibilities. Like younger people, older people also have responsibilities to their spouses, children, and grandchildren. They also might have concerns about estate planning and leaving their families enough money to…
When your loved one passes away, you may be overwhelmed by all of the different things that you must manage. One of the responsibilities that you might have is to notify the Social Security Administration immediately. Some people have the mistaken belief that money that the SSA continues to send can be spent on things…