Wealth and Honor

Helping Families Navigate the Financial Challenges of Age Transitions

Author: drussellcfp (Page 3 of 10)

April 23, 2021 /

Britney Spears has been under a California-ordered conservatorship since 2013, and in recent years has tried unsuccessfully to have her father, Jamie Spears, removed. Attorneys for Jaime Spears have maintained that he “has always acted in the best interests of his daughter.”

Conservatorships are court-ordered arrangements presumably designed to protect those who cannot manage their own affairs due to some physical or mental limitation. Each state has its own rules for conservatorships and courts may appoint anyone it chooses to be in charge of someone’s property.

A spotlight on Britney Spears’ conservatorship has led lawmakers in one state to consider changes, but some say focusing on the pop star could overlook the needs of those with disabilities.

 

Source: #FreeBritney Movement Prompts Lawmakers To Consider Changing Conservatorship Rules – Disability Scoop

Suspension imposed after appeals judge is accused of making himself a beneficiary of ex-client’s will

January 15, 2021 /

The Georgia Supreme Court has suspended a state appeals judge with pay during an ethics investigation.

The court suspended the judge, Christian Coomer, on Wednesday, Law360 reports.Coomer is accused of making himself a beneficiary and his wife the executor when drafting wills for a then-client, according to Law.com, Law360 and the Daily Tribune News.

Coomer is also accused of drafting an irrevocable living trust for the client that designated Coomer as the trustee and beneficiary, with the power to transfer funds to himself while the client was still alive, according to the Dec. 28 charges by the Georgia Judicial Qualifications Commission.

Source: Suspension imposed after appeals judge is accused of making himself a beneficiary of ex-client’s will

Covid Spurs Families to Shun Nursing Homes, a Shift That Appears Long Lasting – WSJ

January 4, 2021 /

Has COVID affected how you feel about nursing homes? Even if a loved one hasn’t become ill, many families have been unable to even visit their elderly relatives, which was especially difficult over the holiday season. This Wall Street Journal article discusses how COVID is causing many to consider other options.

The pandemic is reshaping the way Americans care for their elderly, leading more families to decide to avoid professionally run facilities as services expand to support in-home care.

Source: Covid Spurs Families to Shun Nursing Homes, a Shift That Appears Long Lasting – WSJ

What Seniors Can Expect When COVID Vaccines Begin to Roll Out | Kaiser Health News

December 18, 2020 /

Seniors in nursing homes and assisted living centers will be among the first Americans vaccinated, following recommendations last week by a federal advisory panel. Older adults living at home will need to wait a while longer.Many uncertainties remain. Among them: What side effects can older adults anticipate and how often will these occur? Will the vaccines offer meaningful protection to seniors who are frail or have multiple chronic illnesses?Here’s a look at what’s known, what’s not and what lies ahead.

Source: What Seniors Can Expect When COVID Vaccines Begin to Roll Out | Kaiser Health News

How Covid-19 Will Change Aging and Retirement – WSJ

December 16, 2020 /

As the pandemic wreaks havoc on our mental and physical health, it is also quietly reshaping how Americans will face retirement and old age in the years to come.The virus is bringing sweeping change, mainly by “accelerating developments already under way,” says physician and entrepreneur Bill Thomas. For example, “isolation of older people has long been a problem, but Covid is focusing attention on the issue and adding urgency” to address it.

In this Wall Street Journal Article, writer Anne Tergesen reports on some of the effects that the COVID virus could have on aging and society. Among her findings:

  1. More will age at home.
  2. Older people will benefit from a technology boom.
  3. Lifespans will decline. (Though perhaps only for the short term)
  4. We will have a better handle on what we want to do with our time.
  5. We will plan for death.
  6. We will embrace healthier lifestyles.
  7. We need to save more to retire.
  8. The 401(k) will morph into a multipurpose account.
  9. We will work longer.
  10. Our views on aging will change.

Source: How Covid-19 Will Change Aging and Retirement – WSJ

Alzheimer’s Researchers Study a Rare Brain – The New York Times

December 15, 2020 /

Aliria Rosa Piedrahita de Villegas carried a rare genetic mutation that had all but guaranteed she would develop Alzheimer’s disease in her 40s. But only at age 72 did she experience the first symptoms of it.

Now researchers are studying Aliria’s donated brain to try and unlock the genetic secrets that may have delayed the disease’s onset.

Source: Alzheimer’s Researchers Study a Rare Brain – The New York Times

Balancing Work and Elder Care Through the Coronavirus Crisis

December 14, 2020 /

Liz O’Donnell, founder of Working Daughter, a community for people balancing eldercare and career, and the author of Working Daughter: A Guide To Caring For your Aging Parents While Making A Living (Rowman & Littlefield, 2019.) penned an article for the Harvard Business Review providing tips for those already in the sandwich generation, but now with the added challenge of working from home.

She offers four tips to help those working from home AND who now share space with spouses, children, and perhaps an aging parent.

  1. Set your parents up for success by establishing routines and clear communication where possible.
  2. Set boundaries both for them and yourself so that you can minimize or control the interruptions that shared work and home life will bring.
  3. Overcommunicate your situation with co-workers and managers. Chances are, they are in similar positions or there will be other co-workers who are as eldercare comes out of hiding and into the mainstream.
  4. Do not neglect your own self-care. Caregiver burnout was already a big deal even before COVID. For the working adult children of dependent parents, at least the office provided the odd respite from the chaos of home. Now that is gone for many, so self-care needs to be a priority.

For the full text of the article, see the link below.

 

Source: Balancing Work and Elder Care Through the Coronavirus Crisis

Funeral and burial disputes 

November 11, 2020 /

Think you’ll just let your family members decide how to dispose of your body when you die? This is a burden that is accompanied by a lot of stress and pressure to make some major decisions during a very emotional time. Imagine if one of your children thinks you should be cremated, and another believes only in Christian burial.  Do you really want to leave it up to them?

It’s not uncommon for disagreements to arise between family members and loved ones over funeral arrangements, burial disputes or possession of ashes. So, who has the ultimate say and what can you do? Richard Adams, senior associate in the Contested Wills, Trusts and Estates team at Hugh James who has advised clients in a number of such cases, considers this delicate and sensitive issue.

Source: Funeral and burial disputes – Legal Futures

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