Last Updated: 1/25/2010 11:28:30 AM When planning a funeral, the expenses can add up quickly. The average funeral costs about $7,300, including the casket, embalming, and transportation, and if you include extras like flowers, obituary notices, and acknowledgement cards, the price goes even higher. However, there are several ways you can save on funeral Read Full Article
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Last Updated: 1/26/2010 3:47:31 PM Reprinted by permission of retirementrevised A million low-income seniors have become eligible for a big assist on prescription drug expenses this year under a newly expanded federal program. The subsidy can defray thousands of dollars in costs, and in many cases eliminate prescription drug expenses entirely for participating seniors. Read Full Article
Last Updated: 3/2/2010 2:14:01 PM As ElderLawAnswers has reported, the estate tax expired on January 1, 2010. It remains to be seen whether Congress will reinstate it before it returns in 2011, but the fact that there is currently no estate tax can have unintended consequences for spouses. Standard language found in many estate Read Full Article
Last Updated: 2/26/2010 9:34:53 AM Jan Warner and Jan Collins. Next Steps: A Practical Guide to Planning for the Best Half of Your Life. Quill Driver Books. Fresno, CA. 2009. 255 pages. $11.66 from Amazon (click on book to order) Aging endangers many things we take for granted when we’re younger: health, assets, family Read Full Article
Last Updated: 10/15/2009 9:41:14 AM If you are retired or are nearing retirement, the main questions on your mind are probably “Will I run out of money in retirement?” and “Will I be able to maintain my standard of living?” For answers, people often turn to free online retirement calculators, such as those listed Read Full Article
Last Updated: 12/8/2009 10:43:58 AM A durable power of attorney (POA) allows the person creating the document, called the “principal,” to name a trusted agent who can act on his behalf in almost any situation. But because of the risk of abuse, many banks will scrutinize a POA carefully before allowing the agent to Read Full Article
Virginia Morris. How to Care for Aging Parents. Workman Publishing Company, Inc. New York, NY. 2004. 691 pages. $12.89 from Amazon.com (click on book to order) As your parents age, their needs begin to change. How to Care for An Aging Parent — a revised and greatly expanded edition of a book first published Read Full Article
Last Updated: 1/12/2010 1:57:32 PM As ElderLawAnswers reported earlier this year, the uncertain stock market has made prepaid 529 plans more attractive to parents looking to save for their children’s college education. However, the same economic problems that have increased the popularity of the plans are also putting the plans in jeopardy. Many plans Read Full Article
Last Updated: 1/6/2010 5:31:45 PM Funerals rank among the most expensive purchases many consumers will ever make. A traditional funeral costs about $6,000, although “extras” like flowers, obituary notices, acknowledgment cards and limousines can bring the total to well over $10,000. Moreover, people often “overspend” on a funeral or burial because they think of Read Full Article
Last Updated: 11/25/2009 11:32:36 AM Carolyn Rosenblatt. The Boomer’s Guide to Aging Parents. AgingParents.com. 2009. 262 pages. $39.99 (click on book to order) As members of the boomer generation become caretakers for their parents, more and more guides are popping up. The Boomer’s Guide to Aging Parents provides practical information on topics that aren’t Read Full Article