When individuals cannot manage their finances, courts can appoint guardians and conservators. Financial conservatorship is for those who need help handling money.
In Massachusetts, this type of guardianship is referred to as a conservatorship and an individual can have both a guardian and a conservator appointed for them depending...
When Geraldine Tyler, age 94, relocated to a senior community, she stopped paying property taxes on her home.
After the property was foreclosed on, the county where Tyler’s home was located sold the property for $40,000 to recover about $15,000 in unpaid property taxes. Tyler received none of the remaining...
Using reverse mortgages, adults 62 and older may draw upon home equity to support their needs and remain in their homes.
Many older adults with reverse mortgages have a Home Equity Conversion Mortgage (HECM). The Federal Housing Administration insures HECMs, and the U.S. Department of Housing and Urban Development (HUD)...
According to the Social Security Administration (SSA), 69.1 million people benefit from Social Security programs, such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).
Of the $1.1 trillion Social Security payments the SSA made in retirement, survivors, and disability benefits in 2021, about $1.8 billion, or 0.17...
For the one in five families who care for children with special needs, estate planning is crucial.
Parents of a child with a disability face numerous challenges and concerns. One 2022 study found that among these parents’ biggest worries was what would happen to their children if they got sick. They...
The National Council on Aging reports that more than 16.5 million adults 65 and older experience economic insecurity, with incomes below 200 percent of the federal poverty level. Rising housing and health care bills can burden seniors on fixed, limited incomes.
Life insurance is an asset that many older adults...
As the New Year unfolds, many people embark on a journey of self-improvement, setting resolutions that range from adopting healthier lifestyles to advancing their careers. While these personal goals are undoubtedly valuable, one area often overlooked is estate planning. Crafting a comprehensive estate plan may not be on the top of everyone's...
Being asked to serve as the trustee of the trust of a family member is a great honor. It means that the family member trusts your judgment and is willing to put the welfare of the beneficiary or beneficiaries in your hands. But being a trustee is also a great responsibility. You...
