Discover why traditional retirement planning advice fails so often and how a simple shift in perspective can put you on the path to your retirement dreams.
02/09/2025
Parents may accidentally trigger generation-skipping transfer tax if they skip a generation and give directly to grandchildren. Skipping properly, however, can eliminate estate tax at the child’s level, allowing significant wealth transfer. This can eliminate at least one tier of that estate tax. Tag a friend who gets it!
02/09/2025
The article suggests we often ask the wrong questions, leading to unsatisfactory answers. The speaker challenges people to consider if their ultimate goal is to live life on their own terms, avoid becoming a burden, or simply amass wealth, emphasizing the importance of aligning financial planning with personal values. Have you considered what truly matters to you?
02/09/2025
No one wants to end up in a care facility against their wishes. Instead of focusing on worst-case scenarios, start a conversation about a plan to return home after a hospital stay. Having a plan can make all the difference. Tag a friend who gets it!
27/08/2025
When applying for Medicaid, states can review financial transactions from the last 5 years. One family discovered withdrawals totaling over $400K, jeopardizing their mom's application. The truth? A gambling problem. What would you do?
26/08/2025
Money matters, but what matters *more*? 🤔 It's easy to get caught up in saving and investing, but are we asking ourselves the right questions about life's bigger picture? "What do *you* want out of life?" Time to rethink priorities.
08/08/2025
Protecting assets can feel complex. What if there were smart, creative ways to ensure a spouse is cared for while also planning for the future? It's about getting smart about how you're leaving it.
08/08/2025
Most people will need long-term care, but how do we pay for it? 🤔 Many may not worry about estate taxes, but uncovered medical expenses can be equivalent. Medicare doesn't cover all the bills! What types of expenses might there be? Let's discuss.
08/08/2025
Planning for the future isn't just about finances, it's about ensuring peace of mind for loved ones. It's about saying, "I want to make sure I'm not a burden." What steps are being taken to ensure wishes are honored and burdens are eased?
08/08/2025
Comprehensive legal planning? It's more than just documents. It's about looking at the rest of your life and planning how to live as healthy as possible, for as long as possible, without becoming a burden. "I'm so embarrassed I haven't started yet!" Don't be!
31/07/2025
Navigating finances across generations can be tricky. When managing an estate, differing perspectives on investments—like crypto vs. stocks—can create tension. Good communication is key to honoring original plans while adapting to new ideas.
31/07/2025
Retirement isn't just numbers; it's a life chapter filled with emotional ties. Leaving behind a family home, especially after years with loved ones, can bring unexpected challenges. It's about more than money—it's about memories.
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When I first met Jamie, my wife, she was a children’s therapist in Yakima, Washington. As I got to know her better, I discovered that her father, Bill, had been diagnosed with Alzheimer’s disease in the last year of his 40-year career with the U.S. Postal Service.
As I got to know Jamie, I learned of the attempts her mother, Vivian, was making to keep Bill home. Vivian had been told by the Department of Social and Health Services (DSHS) that there was no help to be had if Bill desired to stay home. According to this official, Vivian would need to move Bill into a nursing home if he needed help.
After struggling to keep Bill home for a year or two, financial pressures coupled with the pressures of managing his care and the care of the household made it impossible for Vivian to continue living in their home. She sold the house and moved with Bill to a mobile home. The move was stressful for Bill, who had started to wander. Eventually, the demands of care became overwhelming and Bill had to be moved to a skilled care nursing home.
As time went on, Jamie and I became close and she invited me to meet her family in Spokane. It was during that visit that I was for the first time exposed to life in a nursing home. It was a shocking experience to say the least.
I had heard stories about old folks’ homes but I had never seen one in India. All my grandparents had taken their last breath at home surrounded by loved ones.
The moment I walked through the nursing home door, the smell alone was enough to want me to turn around and walk back. Bill was unshaved and smelled bad. Jamie went out and asked for a nurse to change him. After visiting for awhile, we left. Jamie was in tears and I was lost in my thoughts. This is not how the richest nation in the world should be treating its elders, I thought. There has to be a better way.
Unfortunately, as I soon discovered, there is nothing unusual about Bill’s story. In fact, it’s a very ordinary story. Bill was moved to a nursing home when Vivian was perfectly willing to take care of him at home. The system had told her she had no way to get help at home. With limited means and in no physical condition to manage the demands of care on her own, what else was she to do?
Bill’s story lit my fire for elder law. It made me want to devote my life to helping families navigate the system so they can avoid the fate that befalls so many elders. If former president Ronald Reagan can live out his final years at home, so can you.
Later on when Vivian was diagnosed with kidney cancer, I was determined to give her story a different ending. I found a Geriatric Care Coordinator to help us plan her care. Fortunately, we were able to avoid the nursing home and Vivian lived with us for eleven years before her death. I am grateful for this experience.
Today, I consider it a privilege to help families rewrite the final chapters of their elders’ life stories.
