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So far Elder Law Attorneys has created 396 blog entries.

Resources for Caregivers of Older Adults with Dementia

Every year, 16 million people in the United States care for family and friends with dementia, the Centers for Disease Control and Prevention reports. Caregivers of people with dementia provide care for longer durations than those who assist individuals with other conditions. They also have comparably higher risks for anxiety, depression, and reduced quality of

What is a “Spendthrift Trust” and Who Needs One?

Did you ever wonder what happens to most inheritances after they are received? An Ohio State University study determined that those who receive an inheritance spend half. One-third of those who receive an inheritance spend it all within two years and end up with negative savings. Unfortunately, a typical inheritance does not provide sustained financial

What is “Long-Term Care” and Who Needs It?

“Long-term care” refers to those services and supports that help persons perform everyday tasks and personal care needs. According to the U.S. Department of Health and Human Services 70% of people who reach age 65 will need some form of long-term care during their lives. Everyday Tasks Everyday tasks, also referred to as “instrumental activities

Home Safety for Aging in Place: A Guide for Older Adults

Takeaways Aging in place involves making modifications to ensure safety, comfort, and accessibility for older adults. Home modifications, measures for preventing falls, and fire and carbon monoxide safety are crucial for creating a safer environment. Maintaining social and mental well-being is also essential for older adults’ safety and quality of life. Aging in place, the

Wealth building with cryptocurrency: a generational divide

Takeaways Many older Americans shy away from cryptocurrencies as an investment vehicle for their retirement. Millennials and Gen Z also view cryptocurrencies as risky — but as a risk worth taking. We’re living in an increasingly digital world where virtually all areas of our life are penetrated by technology. Not surprisingly, younger Americans who have

Per stirpes vs per capita: what do these mean in a will?

Takeaways “Per stirpes” and “per capita” are terms used in estate planning that refer to the distribution method for the assets of a deceased person to their heirs. The distinction can significantly affect how assets are shared among family members. When deciding which distribution method to use, consider your family dynamics and the potential for

How a poorly drafted trust undermined an estate and long-term care plan

Don and Marjorie Peterson put their home in what they thought was a Medicaid Asset Protection Trust. They named their daughter as trustee and their two grandchildren as “remainder” beneficiaries who would inherit the home after they died. Medicaid Asset Protection Trusts are irrevocable. Thirteen years later, their relationship with their daughter and grandchildren having

TAX LOOPHOLES OF THE RICH AND FAMOUS: THE LAFFER CURVE AND WHY LESS IS MORE

For over 100 years, since the inception of the federal income tax in 1913, fluctuations in tax rates, state as well as federal, have profoundly affected our economy in ways far beyond their impact on corresponding tax revenues. So argue the authors of Taxes Have Consequences – An Income Tax History of the United States.