Best of Intentions: If You Want Your Estate to be Distributed Properly, Remember to Update Your Beneficiaries

Here’s a question: if you’ve made it clear in your will which of your heirs should inherit money from your estate, how it is possible that those funds will end up going to someone else? The answer is simple: if you’ve forgotten to update the beneficiary information on a life insurance policy, retirement plan, or…

Syndicated Columnist Chuck Jaffe Advises Readers to Have “The Financial Talk” Now to Avoid Pain Later

If something were to happen to your spouse, would you know how to find all the important information about your financial accounts? Would all your beneficiary designations be up to date? Do you even agree on who your beneficiaries should be? If your answer is no, you’re not alone. The sad reality is that many…

A Piggybank

AARP: Do You Want to Give Your Money to Your Family? Do it the Right Way and Keep the Peace

Generosity is a wonderful thing. If you’re at a stage in your life where you feel you have plenty of resources, and you’re motivated by a desire to give some of your money or possessions to those you love, that’s an admirable impulse – but beware. Your generous spirit can end up causing more trouble…

Elder Financial Abuse: Too Often, It’s All in the Family

The problem of elder financial abuse has been widely reported – in fact, we’ve published several articles about this tragic topic right here on our AgingOptions blog.  Often the articles that warn about those who take advantage of seniors seem to concentrate on strangers – the scam artists on the phone or the bogus general…

Heirs Wonder: “When My Parents Die in Debt, Am I On the Hook?”

The statistics are sobering: more and more seniors are entering retirement burdened with debt.  As a result, many of these aging Americans are literally dying broke, with little of their financial lives remaining but unpaid bills. That means a growing number of adult children are suddenly becoming heirs to an estate ladened with debt, and…

Estate Planning - Safe Harbor Trust

Casey Kasem Wasn’t the Only Celebrity Lacking a Strong Estate Plan

Here on the AgingOptions blog we’ve frequently used the sad tale of pop music celebrity Casey Kasem as an example of a wealthy person whose poor estate planning triggered a pathetic end-of-life spectacle. (Click here to read our blog article, published a few years ago, that described the sad affair of Casey Kasem.) By failing…

Caregivers who Handle a Loved One’s Finances Face Higher Stress

An article just published on the aging-related website NextAvenue should be a must-read for anyone who is caring for an aging loved one or family member. It’s called “Caregiving’s Taboo Subject: Coordinating the Finances.” The story, written by NextAvenue’s Money and Work Editor Richard Eisenberg, reveals some surprising findings about how many caregivers are responsible…