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will also provide educational outreach to elder groups regarding the prevention and/or reporting of fraud become more important since the passage last year of a new chapter in the state’s criminal code making 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.

in a community for people 55 and older in an area they had always admired used a reverse mortgage to finance 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 One other rationale for seniors looking at reverse mortgages is to finance the costs of long-term care

Get a financial plan first,” says that many folks do little planning, and that ends up increasing the Get a financial plan first” #AssetProtection #ProbateAttorney #ElectiveShare #Probate #ProbateCourt #

Organize your financial documents. Create a file for all of your financial documents and include a list of all current credit cards, driver Set aside some time each week to work on your financial to-do list so it’s not so overwhelming. It’s important to set yearly goals and to simplify and improve your financial picture. Reference: Nerd Wallet (January 7, 2016) “How to Improve Your Finances in 2016” #HoustonAssetProtection

However, under some state laws, financial institutions are required to accept a power of attorney unless

Dying can take a large emotional and financial toll on loved ones.

There’s plenty of financial chicanery that targets seniors. One reason is that older Americans are more apt to have the means to purchase a financial product than Many seniors fail to report such fraudulent activity because they either don’t know where to turn or Visit www.finra.org/investors/finra-securities-helpline-seniors if you believe you’ve been misled by a financial If you are talking with a salesperson of a financial product, consult with a family member and an elder

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

When a grandmother wants to give her two grandkids $50,000 each for college, there can be tax and financial Bear in mind that the direct payment of tuition could jeopardize the child’s financial aid eligibility were made out of the account, this would be considered income to the child and could put his or her financial Planning for financial aid can be tough because each school has its own set of rules. If the child is likely to get financial aid, she could make gifts for other purposes like a down payment

Her parents were in favor, as each lost their fathers during childhood and witnessed the financial stress Life insurance allows us to deal with personal loss without compounding it with financial stress. life insurance, many life insurance needs will expire, assuming that a family is on track to reach financial Note that permanent life insurance creates additional financial complexity and can be expensive. If you have a spouse or minor children, you have loved ones relying on you financially.