Senior Financial Planning

When considering the many different types of senior housing communities available, you may be faced with the decision to rent or buy. It’s important to consider an elder’s future care needs and finances before deciding which option is best.

Budgeting can be tricky, especially for seniors on fixed incomes. Learn how to help an aging loved one evaluate their personal cash flow and develop a monthly budget they can actually follow.

With so many older adults living on limited incomes, finding affordable products and services is crucial to making ends meet. Get the inside scoop on freebies and discounts available to you and your aging loved one.

Many American adults don't know how to maximize their Social Security benefits. Most start collecting too early, and neglect to use strategies that make the most of their monthly benefits.

Would you know what to do if you suddenly had to take over managing money and paying bills for your parent? Here are 10 things you need to know before assuming this responsibility.

Many family caregivers are granted the power to manage an aging loved one’s finances, and this often includes handling an elder’s investment decisions. While this can be a daunting task, these pointers can help guide you.

Money can be a sticky subject to discuss with your aging parents. If you’re noticing any of these red flags, it may be time to step in and assist in managing their finances.

Planning ahead for your elderly parent's long-term care can save the rest of the family both emotional and financial distress. Help your parents avoid financial pitfalls with these 3 financial strategies for planning future care.

Millions of Americans are set to receive economic impact payments from the government. Learn about eligibility requirements, amounts and how to submit updated information to ensure older Americans get their coronavirus stimulus checks.

A reverse mortgage loan is one option that may deserve consideration as retirement needs grow and savings and Social Security benefits may not be enough to retire on comfortably and with confidence.

A reverse mortgage is a type of home equity loan for seniors age 62 and older that is used to turn a portion of their home equity into cash. Is this financial planning tool right for you?

A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

A living trust is a popular financial tool that can be used for Medicaid planning, estate planning and tax planning purposes. However, a trust may not be the best the best approach, depending on a person’s long-term goals and unique financial situation.

Medicaid planning is not a do-it-yourself project. Elder law attorneys are well-versed in the tricky legal, medical and financial factors that influence when a senior should apply to ensure they qualify for benefits as soon as possible.

There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

Many seniors must apply for Medicaid to afford long-term care. Here are strategies families can use to protect some of their assets while still qualifying for financial assistance with nursing home costs.

Helping a senior with their taxes this year? Get their financial affairs (and your own) in order early on to avoid unnecessary stress as tax day approaches.

Understand how retirement communities differ from other senior living options and learn how various assets, income sources and benefits can cover the costs of living in an independent senior community.

There are life insurance options available for seniors, but finding the right policy can be tricky.

Seniors with limited income and assets must often use a spend-down strategy to qualify for Medicaid, but gifting can trigger a penalty period of ineligibility. Learn about Medicaid asset transfer rules to avoid problems with paying for long-term care.