It is common for aging Americans to entrust family members or friends with the management of their finances, health, and other affairs during retirement and beyond. They often believe that their family members will be able to take care of any issues that arise. While consulting with loved ones about
On August 14, 1935, the US federal government launched its social insurance program to provide retirement, disability, and survivor benefits. Since that time, in part due to the disappearance of extended family networks, an increase in population, and a profound increase in life expectancy, it has become challenging for the
People frequently confuse Medicare and Medicaid, especially as available options for seniors or individuals in need of long-term care following a sudden disability. Though both are federal programs and may sound similar in name, Medicaid and Medicare, in written form, work very differently. Both Medicare and Medicaid were started in
According to the US Census Bureau, more than 51 million Americans are currently aged 65 or older, and the number is steadily increasing while medical and technological advancements are allowing seniors to live longer and better lives than ever before. The expanding needs of the US aging population are contributing
All too often, aging parents gift their adult children or others with resources to share their legacy and take advantage of tax regulations for gifting each year. However, tax regulations and Medicaid eligibility rules are not the same. Gifting that complies with tax goals and IRS rules may cost even
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