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Articles Posted in Financial Planning

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DISABLED MILITARY CHILD PROTECTION ACT HELPS WITH SPECIAL NEEDS PLANNING

SPECIAL NEEDS LAWS HELP PROTECT THOSE WHO PROTECT US For those of us who come from families with many military members, we know the sacrifices and hard work that service members incur for their principles and belief that there are certain obligations in life that precede all else.  Unfortunately, until…

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TOOLKIT TO HELP PREVENT SENIORS FROM FALLING

SIMPLE GUIDELINES, EASY TO UNDERSTAND AND FOLLOW The Center for Disease Control (CDC) released guidelines to help prevent and mitigate falls among senior citizens in 2012. The CDC program is called STEADI, an acronym coming from the full title Stopping Elderly Accidents, Deaths and Injuries. Research shows that falls are…

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SPECIAL NEEDS, THIRD PARTY AND SELF SETTLED TRUSTS – WHATS WITH ALL THE NAMES?

LEGAL DISTINCTIONS THAT MATTER When a person applies for Medicaid eligibility there are many pitfalls that an unsuspecting or unsophisticated applicant can run afoul of. To help them retain the benefit of certain monies that they would normally have access to third parties or the applicant themselves can create a…

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BANKRUPTCY IN THE AGE OF RETIREMENT

RISING RATE OF SENIOR FILERS         In 2011 a noted bankruptcy legal scholar at the University of Michigan Law School published a working paper where he documented the rise in the rate of bankruptcy filing rates for elderly Americans.  While the overall rate was only seven percent of the bankruptcy…

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ADVANCES ON PENSIONS: IS IT PREDATORY LENDING?

GOVERNMENT ACCOUNTING OFFICE INVESTIGATION On September 30, 2015 the Government Accounting Office (GAO) issued a report following a 15 month investigation regarding advances to pensioners, secured by monies that the pensioner would receive in their pension. The same day the Senate Committee on Aging held hearings on this exact issue…

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New 2014 Cost of Long-Term Care Study Released

Residents throughout New York continue to experience “sticker shock” when exploring their long-term care options. Whether you are planning for possible needs in the future or working quickly to secure support for an ailing loved one, there is a good chance you may be surprised by the overall costs of…

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April is Financial Literacy Month – Plan for Your Future

In the spirit of raising awareness of sound money management, April is officially deemed “National Financial Literacy Month.” The U.S. Senate even passed a resolution on the matter a few years ago. The National Foundation for Credit Counseling usually leads the yearly effort, and many others in the financial world…

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Understanding Social Security Benefits for Seniors

The words “Social Security” remain synonymous with retirement benefits for seniors. Earlier generations grew up with the understanding that Social Security would provide an income net in their golden years, allowing a modest but safe retirement. However, the current generation does not have nearly the same picture of the system.…

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Inadequate Retirement Worries? – Tips to Boost Your Savings

Retirement saving. Those two works often strike immediate fear and worry in the heart of New Yorkers. It is hard enough for many families to meet their weekly needs, from mortgage payments to children’s tuition payments and everything in between. In the end, there is often little left over to…

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