Estate administration can be an overwhelming task for many seniors and their families. One of the many challenges is selecting someone responsible for the disposition of the estate. A trustee/personal representative is responsible for the distribution of assets. A relative, a close friend, or a professional advisor, can serve in this capacity. Let’s explore choosing a trustee versus a personal representative to handle your estate. Before you can decide, you need a clear understanding of

As seniors plan for the stages of their later life, they face decisions about their finances, trust, and health. Therefore, creating a multi-fiduciary plan for the future is essential so that you are not in a vulnerable position should you lose the capacity to manage your legal, financial, or medical affairs. There are reasons many seniors avoid or delay completing all the necessary steps needed to outline their wishes clearly. A professional fiduciary can remedy

As we grow older and transition into a new phase of our lives, personal enrichment and purpose are crucial elements to maintaining a healthy mindset. In addition, having something to care for or having an unconditional companion by our side gives us purpose, love and provides company when we feel alone. No matter your age, pets are the perfect, unconditional companion for many, especially elderly individuals. But unfortunately, for those whose living environment may not

Financial literacy is just as important as one enters their senior years as it was when they first became an adult. Unfortunately, in the United States, financial literacy is not a commonly mastered competency in individuals of any age. When the transition into the next phase of life occurs, many find themselves living on a fixed income. While this provides a certain level of security, spending habits, inflation, and even investing for the future can

Many people dread the aging process because they’ve heard stories or experienced first-hand a family member going through a myriad of health, mobility issues, and maybe even depression and other mental health issues. The good news is, you can age not only gracefully, but happily. Depression is not a normal part of aging, in fact, studies show that most older adults feel satisfied with their lives, despite having more illnesses or physical problems. However, important

Caring for the elderly is a physically and emotionally challenging task; even more so if you a close to the person you’re caring for. It’s difficult to see someone who took care of you when you were younger need more help as age and disease or illness take their toll. In addition to the emotional toll of caregiving, there is also a financial impact. According to the Family Caregiver Alliance, there were over 34.2 million unpaid