Benefits to Keeping Your Bank Account Private
Although it can be useful to have another party available to keep track of bills when you’re sick or away, adding a child’s name to a bank account may be more of a hassle than it’s worth. Doing so may…
Today’s Seniors Are More Likely to Be in Debt
America experienced its worst financial crisis since the great depression between 2007 and 2010. Known as the subprime mortgage crisis, it happened because home prices fell in 2006, triggering loan defaults. Then the risk spread into pension funds, mutual funds,…
Government Accountability Office Reviews Nursing Home Ratings
Ranking member of the Senate Committee on Veteran’s Affairs, Senator Jon Tester (D-Montana), along with Senators Edward J. Markey and Elizabeth Warren (both Democrats from Massachusetts) are requesting a formal review by the Government Accountability Office (GAO) of the rating…
President Signs Autism Cares Act
Much attention over the last ten years has been given to the research for causes and treatment of Autism Spectrum Disorder, also known as ASD. The Combating Autism Act became a law in 2006, was reauthorized in 2011, then…
Identifying and Stopping Elder Abuse
According to the American Psychological Society, elder abuse is the infliction of physical, emotional/psychological, sexual or financial harm on an older adult. Elder abuse can also take the form of intentional or unintentional neglect of an older adult by the…
Estate Planning 101
When it comes to establishing wills and estate plans, older Americans outpace their younger counterparts. Still, a significant number — 19 percent of those over age 72 and 42 percent of those between 53 and 71, according to survey data…
How You Should View Family Caregiving
Doesn’t it make sense for a family member to care for a senior who needs help at home, rather than paying someone else or an agency? Or uprooting the senior into an institution? The family member can pay the bills,…
How to Identify and Prevent Financial Elder Abuse
Financial elder abuse has been a growing problem in the past decade. The financial exploitation of older or vulnerable adults can take many different forms. This portion of the population can be exploited by strangers of professionals who deal with…
The Need for a Tough Power of Attorney
Powerful “power of attorney” (POA) documents are essential, if there ever comes a time when you or your elder become unable to manage your finances or make health-care decisions. Beware if you rely only on POAs that hospitals provide, or…
How to Manage Somone Else’s Benefits
You have been appointed to help your seven-year-old nephew Roberto manage his Social Security benefits. In the Social Security system, you’ll be called Roberto’s “representative payee.” The situation is similar if you’re appointed to help your elderly father, who has…