As the pandemic rages on and the weather gets cooler, that can mean our senior loved ones find themselves facing a dark, lonely winter. Loneliness can affect anyone of any age; however, it especially impacts those over 70. Loneliness creeps in both for those residing in nursing homes and those residing independently at home.
Understandably, in-person visits have been suspended due to the Coronavirus pandemic in most nursing homes across Maryland, but what happens if the nursing home refuses all communication? Are there legal ways to enforce the nursing home to open the lines of communication among residents and their family members?
Despite the popular myth that only people with large financial holdings need estate plans, people who do not have a large estate do need an estate plan, according to Pauls Valley Daily Democrat in "More on estate planning myths."
The Internal Revenue Service recently announced that taxpayers can deduct from their 2021 income if they are buying long-term care insurance. It must be a qualified policy and the premiums will be tax deductible to the extent that they exceed 10% at the insured’s adjusted gross income in 2021.
Predicting how much time a patient has left is not an exact science. Some may die unexpectedly and others decline slowly over time. It can be a very stressful time for caregivers and not knowing what to expect only magnifies the anxiety.
Many people have been told that it is important for people to “avoid probate.” But just because people may have heard that term, doesn’t mean they know exactly what probate means, why it can be a problem or how to successfully avoid it.
Whether you have recently become wealthy due to a windfall or you acquired significant wealth long ago, you know the value of having the right professional advisors on your wealth management team. Let's look at the roles each advisor plays on the team:
A physical safe deposit box may seem like a thing of the past in today's digital age, but there are many items that need to be protected in this type of vault. Important documents and certain valuables can find a proper home in a safe deposit box; however, there are also many items that you should not put in your safe deposit box to avoid problems for either you or your heirs.
According to the latest data from the Census Bureau, over 17% of people remarry after their first marriage ends in divorce or death of a spouse. Often when people remarry they fail to take certain steps to prevent disinheriting their kids from the previous marriage.
A recent MarketWatch article described the anguish of being distressed and giving up your inheritance for some quick money in "My drug-addicted friend signed away his $800,000 inheritance to his brother — now he’s clean, can he get it back?"
