Sometimes the courts will appoint a son or daughter to manage their parent’s care. If you are in a similar position, here is my insider’s scoop: If you have the financial ability, hire a professional fiduciary to manage the needs of your mom or dad.
Anyone who pays attention to the news no doubt hears or reads countless stories about the various types of abuse that are rampant in our society: child abuse, domestic abuse, sexual abuse, and animal abuse, to name a few. However, there is one type of abuse that is becoming more and more prevalent but receives little media coverage: elder abuse.
Long-term care is expensive, and Americans can’t expect Medicare to pay for it. Given this, Medicaid has, unfortunately, become the long-term-care insurance of the middle class, with some people wiping out their savings and then relying on Medicaid for assistance in paying for their nursing-home stays.
In our last blog, we took a look at our increasing life expectancy and offered steps so you don’t outlive your money. Today we will take a look at how our longer lives affect not just our immediate family but multiple generations.