Due to the COVID-19 pandemic, you may no longer be able to visit right now. How can you continue to assist your parents from a distance? The answers depend on the types of help you have been providing, but here are a few options.
Estate Planning
37 posts
As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain.
Inheriting real estate from your parents is either a blessing or a burden -- or a little bit of both. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices.
A durable power of attorney is an extremely important estate planning tool, but many people delay completing this vital estate planning step until it’s too late and they no longer are legally capable of doing it.
When it comes to long-term care costs, the charges for home care are now rising faster than those for nursing home care, according to Genworth's 2019 Cost of Care survey.
If you are over age 60 and you haven't changed your estate plan in many decades, it's almost certain that you need to update your documents and start reviewing them every five years.
Making sure you have the right estate planning documents is one of the simplest ways to have a positive impact on your family's future. Proper planning ensures that your wishes will be followed and that your family will have less to worry about after you are gone.
There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.
Prepaying for your funeral is one way to ease the burden on your family following your death and make sure your wishes are carried out. But pre-paid funeral plans come with risks, so you need to exercise care when purchasing a plan.
Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger family unit. Unfortunately, it too often also creates inheritance fights between stepparents and children.