Life insurance plays an important part in your estate plan, especially if you have young children or a spouse or family member with a disability who depends on you for support.  Life insurance can be especially helpful in providing immediate cash at death, which is often needed for funeral expenses and to pay the debts of the decedent.

In determining how much life insurance you need, you should consider both the long-term needs and short-term needs of the people who depend on your income.

The role of caregiver for an aging parent or other family member is traditionally filled by women. You may tend to picture women as caregivers to all segments almost exclusively.

But although the stereotype of women caring for elderly relatives is widespread, it is increasingly inaccurate. A recent Pew Research Center report says that in the United States, men take on that responsibility in 45 percent of cases.

long list of damages caused by Hurricane Sandy, the Manhattan VA Medical Center, located on 423 East 23rd Street, suffered major damages from flooding that occurred in their basement which damaged mechanical systems, and the fire suppression system. With assistance from the VA NY Harbor Healthcare System, here is a list of emergency telephone numbers that have been established for any veteran in NYC in need of help during the upcoming Nor’easter…

Fraudsters and con artists are targeting seniors to a greater degree than ever before, and it is important for elders and those who care for them to be aware of common scams and increase their vigilance against them.

While anyone can fall victim to a thief, seniors are more at risk.  Scammers target the elderly because, having grown up in a simpler era, they may be more trusting, and because some seniors may develop cognitive issues, such as Alzheimer’s disease, that prevent them from detecting an attempt at fraud.

As the U.S. population ages, more focus is being placed on moving individuals into elder health care residences or long-term care facilities, and there is natural concern about all of the support that is necessary for an aging community. But one thing people may not think about is what steps to take to ensure the care of an elder’s pet. It is in everyone’s best interest, including the owner, the family members and the beloved pet, if there is a succession plan in place for if and when an individual becomes too ill to care for their furry friend, or needs to move to a care facility.

The transfer penalty exists to prevent someone from entering a nursing home and attempting to meet the Medicaid eligibility requirements by transferring assets to, for instance, a close relative, for less than the true value of those assets.  To prevent this, there is a “look-back” period of 60 months, when a Medicaid applicant’s transfers of assets will be examined to determine if they were for less than fair value.

An Alzheimer’s diagnosis is a life-changing event for the patient, and also for the person who will become the patient’s primary caregiver.  Most people who have the disease, and who provide care, are women.  The Working Mother Research Institute, in partnership with the Alzheimer’s Association, has conducted a survey of about 2,500 women, including  1,200 who have served as caregivers to people with Alzheimer’s, to determine how much they know about the disease, and learn more about the effect it has had on their lives.

Last year, a study from MetLife was released regarding the increase of exploitation of seniors.  Through analyzing news articles that referenced financial abuse of the elderly and extrapolating data from findings, results showed that a majority of the cases involved strangers and “scams,” whereas friends and family were also found guilty of exploiting their loved ones but usually through forged checks, stolen credit cards, drained bank accounts and transferred assets.

The Alzheimer’s Foundation of America (AFA) will host an educational conference on Alzheimer’s disease on May 18, 2012, in New York City.  The conference is free and open to the public.

The event, entitled “Five Boroughs Concepts in Care Conference,” takes place throughout the day at the Crowne Plaza Hotel in Times Square.  The conference is care-focused, and will feature practical ways to meet daily challenges.  There will be separate presentations for people with Alzheimer’s or a related dementia, medical providers and family members.

Estate planning is a financial process that can protect you and your family, and is a very important component of your overall financial planning. April is National Financial Literacy Month to put your estate planning house in order. If you don’t have an up-to-date estate plan and you happen to get hurt or sick and cannot manage your financial affairs, the courts will have to appoint someone to manage them for you. The person they appoint might not be the one you would want to perform those tasks.