After years of working hard to build up their assets, an elderly individual may care greatly about keeping their assets safe. Unfortunately, there are a variety of things that could create serious asset depletion risks for seniors.
How one's assets are distributed after death can be an incredibly personal thing. Thus, the details of such distributions are something an individual may want kept out of the public eye after their death. Consequently, privacy is one of the big estate planning concerns an individual may have.
Providing their pet with love and care is something many pet owners care deeply about. Thus, one of the things pet owners may have a fair deal of worry about is what would happen with a beloved dog, cat or other pet if they were to pass away before the pet does.
Many individuals here in Massachusetts give to charity. There are many different charitable giving goals an individual can have, both for gifts made during their life and after-death gifts set up in their estate plan.
Getting the right medical care is important when one is in their retirement years. There are certain challenges that can arise for seniors when it comes to getting the medical care they need for the medical conditions they have. One are challenges when it comes to paying for such care.
Health care costs, including costs related to long-term care, can easily get rather high. Thus, it is unsurprising that medical costs can be a big source of anxiety. A recent survey indicates that health care expenses are something that many wealthy individuals worry about.
When a senior is thinking about the possibility of having to leave their home and move into an elder care facility, there are many worries they may have. They may be concerned about the emotions of leaving a long-time family home, how much independence they would lose by moving into a facility and what long-term financial implications them moving to an elder care facility would have on them and their family. Thus, most elderly individuals hope to stay in their own home, and out of a care facility, as long as possible.
When a person sets up an after-death gift of assets to a loved one, they generally want as much of that after-death gift to go to their loved one as possible. Thus, one thing they might be concerned about is the possibility of portions of the gift being directed away from their loved one towards others. An example of a type of such asset redirection that one might be worried about happening after their death is their loved one losing portions of the gifted assets through creditor actions or lawsuits.
There are many terms out there that have to do with seniors. One such term that our readers may have come across in recent times is "elderly orphan." A natural question one may have when encountering this term is: what exactly does it mean?
There are a wide range of things that an elderly individual may want to put the money they've saved up from years of hard work towards. One such thing is a good cause. Elderly individuals sometimes have the desire to give part of their nest egg to a favorite charity.