Why are elderly people more vulnerable to financial abuse?
Macri & Associates, LLC Blog
by jrichcontentcustoms
4d ago
Financial abuse can occur in many ways. It can include scams, theft from friends and family members, fraud and the unauthorized transfer of assets. While anyone can be abused financially, this is something that impacts elderly individuals disproportionately. Studies suggest that one in 10 people over 60 have suffered some form of financial abuse, and this fraction increases with age.… The post Why are elderly people more vulnerable to financial abuse? first appeared on Macri & Associates, LLC ..read more
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The home of a Medicaid beneficiary is at risk after they die
Macri & Associates, LLC Blog
by gturnercontentcustoms
1M ago
Individuals preparing for retirement usually need to think carefully about their comfort as they age, and also the legacy that they’ll leave after they die. The plans they establish early in retirement can help protect them and the people they love. Many people preparing for retirement decide to review and expand their estate plans. For example, they may create a… The post The home of a Medicaid beneficiary is at risk after they die first appeared on Macri & Associates, LLC ..read more
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Medicaid planning if you own a vacation home
Macri & Associates, LLC Blog
by msmithcontentcustoms
1M ago
Medicaid planning is a subject that is seldom discussed in society. As a result, many people are unaware that they need to take certain steps if they eventually need to qualify for benefits. In New Jersey, Medicaid eligibility involves strict asset limits, which can inspire challenges for those who own valuable assets like a vacation home. As a result, if… The post Medicaid planning if you own a vacation home first appeared on Macri & Associates, LLC ..read more
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How much does a nursing home cost?
Macri & Associates, LLC Blog
by kreed
2M ago
One thing to focus on when doing long-term care planning is the cost of this care. Many people know that they may eventually spend their final years in an assisted living center or a nursing home. If they can’t live at home safely, then one of these facilities can provide a safe and beneficial living situation. But is that realistic… The post How much does a nursing home cost? first appeared on Macri & Associates, LLC ..read more
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Advance directives: Proxy or Instructive?
Macri & Associates, LLC Blog
by msmithcontentcustoms
3M ago
An advance directive is a legal document that states your preferences for medical choices to be made on your behalf in the event that you are unable to do so. It acts as a guide for your loved ones and medical staff to follow when making decisions on your behalf if you are incapacitated.  The state of New Jersey recognizes… The post Advance directives: Proxy or Instructive? first appeared on Macri & Associates, LLC ..read more
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What makes a durable power of attorney different?
Macri & Associates, LLC Blog
by gturnercontentcustoms
3M ago
Estate planning can help people protect their loved ones. An estate plan can also protect the individual establishing the plan. There are numerous documents that take effect while someone is still alive but in need of outside support. Powers of attorney are among the most important protective documents people add to their estate plans. By establishing powers of attorney before… The post What makes a durable power of attorney different? first appeared on Macri & Associates, LLC ..read more
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Passing your home to an heir: What are the options?
Macri & Associates, LLC Blog
by kreed
3M ago
Your home isn’t just the place you live – it’s also a considerable portion of the wealth that you have to pass on to those you love.  Deciding how to pass this asset to your chosen beneficiaries can be complicated because there are several different methods you can choose – and each has its own benefits, drawbacks and tax implications.… The post Passing your home to an heir: What are the options? first appeared on Macri & Associates, LLC ..read more
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How does an irrevocable trust protect assets?
Macri & Associates, LLC Blog
by lbaxtercontentcustoms
3M ago
Relying on a will alone to protect your wealth after you are gone may leave some loose ends since you never know what lies ahead. For instance, imagine leaving your assets to your children through a will. If they incur significant debt, their inheritance could be on the line. Creditors can claim the inherited assets to settle debts, leaving your loved one with little to nothing. Incorporating an irrevocable trust into your estate plans can remove the lack of assurance and uncertainties of bequeathing your estate to loved ones. Here is how an irrevocable trust helps protect assets. Ownership an ..read more
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5 myths about assisted living
Macri & Associates, LLC Blog
by lbaxtercontentcustoms
4M ago
Going into an assisted living facility can be a difficult transition for many people. It may be harder for some people to adapt to their new way of life when they believe some common myths about assisted living.  Don’t believe everything you hear about assisted living. Here are some common myths about assisted living debunked: Myth 1: You’ll no longer have independence One of the biggest fears many people have once they enter an assisted living facility is that they will lose their independence. Yet, many facilities give their residents a lot of opportunities to do what they want.  M ..read more
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Is your elderly relative struggling with money management?
Macri & Associates, LLC Blog
by kreed
5M ago
The majority of us spend most of our adult lives with a good range of mobility and cognitive function. Nonetheless, the reality is that as we get older, these things begin to decline. Those in their advanced years may notice a rather steep decline, which can make managing money difficult.  Your elderly relatives most likely played a key role in looking after you, and there comes a point when it is time to return the favor. How can you tell if an elderly relative is struggling to manage their finances?  Ignoring mail  One sign that your elderly relative is struggling with money i ..read more
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