Under Maryland state law, executors/personal representatives are entitled to payment for their work in administering an estate. Often the wording included in a Last Will and Testament will state a flat fee, contingency fee (based on transactions or size of the estate) or simply claim an executor is entitled to ‘reasonable compensation’.
The word anosognosia is derived from Greek roots meaning ‘without knowledge of disease’. Many seniors suffering from dementia and/or Alzheimer's disease are unaware that they need assistance or that they have any cognitive decline.
There are many different flu viruses and they are constantly changing. Now add to that Covid-19 and you may wonder how the elderly will survive the 2020-2021 flu season (October through March). There are two new vaccines licensed for use during this upcoming flu season. One is specifically for older adults - a high-dose vaccine for use in adults 65 years and older. September and October are generally the best time to get vaccinated.
When someone rents residential property and dies during the lease period, the lease does not terminate automatically. The estate of the tenant will still be liable for paying rent for the duration of the lease period.
There are millions of family caregivers providing billions of hours of unpaid care for loved ones. This can come at a huge personal cost to the caregivers in the form of lost wages and lost time with other friends or family.
A power of attorney (POA) authorizes a specified individual to act as your agent to handle certain matters, such as finances or health care, on your behalf. If a power of attorney is durable, it remains in effect if you become incapacitated, such as due to illness or an accident.
Online ordering, television shopping channels and mail-order catalogs make it very appealing for seniors to shop as a hobby or pastime that can quickly lead to an addiction. Some seniors may have had shopaholic tendencies their whole lives, while others ramp up their spending to overcome feelings of depression, boredom or loneliness.
You may find yourself accruing a lot of out-of-pocket (OOP) costs not covered by Medicare that can become a major financial burden. Healthcare costs are exorbitant but there are some steps that caregivers for seniors can take to reduce these out-of-pocket expenses.
According to the Centers for Disease Control and Prevention (CDC), 1 out of 4 adults aged 65 and over fall each year. Falls cause over 90% of hip fractures in the elderly. Twenty percent of those suffering from a hip fracture die within one year of the injury.
When someone passes away during the most recent tax year, the person named as executor in the will (or if there is no will, the administrator of the estate appointed by the court) is responsible for filing all necessary income, estate and gift tax returns in the decedent's name.
