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Elder Law Archives

Estate planning and retirement considerations for late-in-life parents

It is becoming more common for people to be parents at an older age, partly because of changing cultural mores and advances in fertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel, 70, welcomed his third daughter in 2017. Janet Jackson had a child at age 50. But later-in-life parents have some special estate planning and retirement considerations.

Charitable giving under the new tax law

The new tax law may make it harder for some taxpayers to claim a tax deduction for charitable contributions. However, there are a couple of options for you to consider if you want to make the most of your charitable donations under the new tax law.

New rules make it more difficult for veterans to qualify for long-term benefits

The Department of Veterans Affairs (VA) put in place new rules that make it more difficult to qualify for long-term care benefits. The rules, similar to those already in force for Medicaid, establish an asset limit, a look-back period, and asset transfer penalties for claimants applying for pension benefits that require a showing of financial need. 

NEW BROKERAGE ACCOUNT SAFEGUARDS AIM TO PROTECT SENIORS

As the population ages, elder financial abuse is a mounting problem, and vulnerable seniors can become victims of scammers who convince them to empty their investment accounts. For that reason, Financial Industry Regulatory Authority (FINRA), the organization that regulates sales of securities, issued new rules effective in 2018 to protect seniors with brokerage accounts from financial scams.

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