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in a community for people 55 and older in an area they had always admired used a reverse mortgage to finance equity without facing monthly payments in return, have received a bad rap over the years because of abuses They also can be a source for out-of-pocket health care costs or other sudden financial needs. only modest savings but little or no housing debt the ability to stay in their homes and can provide a financial Stricter regulation from the FHA and the Consumer Financial Protection Bureau—like mandatory counseling

The Governor’s Executive Council voted to accept a $130,000 federal grant to fund a state Elder Abuse This new unit will be charged with the investigation and prosecution of elder abuse cases and will be will be used to pay for a temporary full-time prosecutor whose job it will be to focus on crimes and abuse become more important since the passage last year of a new chapter in the state’s criminal code making financial Seniors can be reticent to report abuse—especially when it’s relatives who are victimizing them—because

adults being physically abused. According to the National Center on Elder Abuse, only one in 14 cases are reported. Financial abuse is becoming more prevalent, not just within the Copper State, but nationwide. Nationally, financial abuse and exploitation lead to seniors losing about $2.9 billion yearly. to the Arizona Elder Abuse Coalition.

A recent article on the Value Walk website, “Cleaning out Your Financial Trunk – Year-End Tips,” describes The first step in de-cluttering your financial mess is determining what your targeted retirement number Here are some financial planning priorities on which to focus: Estate Planning: No excuses, you need to have an estate plan in place with a living trust, a will, a financial power of attorney, and an advanced Clean up your messy financial trunk with comprehensive investment and financial planning and reach your

increase in memory loss, confusion, or poor judgment indicates a parent is unable to make sound health and financial Negligent financial transactions – suspicious bank withdrawal activity, unpaid bills, and threats of healthcare providers, and legal approvals: The Texas Adult Protective Services may be investigating elder abuse The temporary guardian may be authorized to make health care decisions, decide residence, or make financial Prioritizing least restrictive care – consider assisted living instead of nursing homes or allow financial

Likewise, a recent study by True Link Financial estimated the problem costs more than $36 billion every But these statistics may be low because elder financial abuse crime frequently goes unreported. To help protect an older loved one from elder financial abuse, become familiar with the more common types Here are a few other important ways to guard against potential elder financial scams. Contact the police, the bank, the brokerage company, or other financial officials.

These include waste (significant damage or devaluation of the property), abuse, or neglect of the property Life estate disputes can be costly, involving property and impacting your financial future. Tax and Financial Considerations Altering a life estate can have significant tax and financial implications Conclusion and Next Steps Removing someone from a life estate is a complex process with many legal and financial rights and responsibilities of all parties involved, the grounds for removal, and the potential tax and financial

It is now their time to make decisions regarding their care, finances, and other “adult” things on their Did you know that even though you are a parent, the school, financial institutions (like the Financial Finances: Financial institutions may not allow parents to manage their children’s accounts or access other pertinent financial information without the child’s previous consent (or power of attorney being Statutory Durable Power of Attorney: This grants the ability to handle financial and legal matters on

Financial problems are one of the biggest causes of divorce in the United States. Couples in love often get married and head blindly into the most complex financial arrangement of their By addressing these and other financial issues, couples are able to make sure they have compatible expectations They can also avoid getting stuck later because they both have a written agreement about how finances It is also important to make sure that all financial information is disclosed.

To decide, ask yourself: What happens to my family financially if I die? You’ll be in solid financial shape and you can concentrate on other demands and the joys of being a new 7 Important Financial Considerations” #AssetProtection #Guardianship #529EducationalSavingsPlan #DisabilityInsurance

In fact, a recent gobankingrates.com article, “Your Estate Planning Checklist: How to Create a Financially This lets you name a person you trust to make financial and legal decisions for you if you can’t for This should include all of your financial accounts, insurance policies, and contact information for any professionals you work with—like attorneys, accountants, brokers, and financial planners. Reference: gobankingrates.com (June 22, 2016) “Your Estate Planning Checklist: How to Create a Financially

than half of Americans now have at least one chronic health condition, mental disorder or substance abuse that because you are suffering from a chronic illness that it is too late to take steps to better your financial