The Case of the Disappearing Nestegg: How Health Care Costs Can Annihilate Retirement Savings

Barron’s recently wrote an article on the cost of Health Care during retirement years, and the numbers they give are astounding. Today, I want to share with you some of the most surprising statistics they shared and how I think Elder Law and Estate Planning can help address some of these issues. There is a $101,300 deficit between average healthcare costs during retirement for a couple and the average amount saved Read More

Make Your Medical Wishes Known for National Healthcare Decisions Day

National Healthcare Decisions Day is on April 16th, and it is an important reminder for every adult to begin having conversations with their loved ones about their loved one’s most private wishes for medical and end-of-life care. Far too many people assume that their families would make the choices they would want in an emergency. Yet every day we hear stories of adult children, siblings or other relatives Read More

Top Five Things You Need to Know About Long-Term Care Planning

A recent article in USA Today hit some key points on planning for long-term care. In this blog, I explain some of their best points as they relate to Texas AND point out what they got wrong. Over half the population aged 57+ will spend time in a nursing home during their lifetime. The article reveals that a whopping 56% of Americans 57-61 will go into a Nursing Home at some point. So, even though you might be Read More

Getting Real About Long-Term Care for The Boomer Generation: Plano Elder Law Attorney Aaron Miller Reveals How Seniors Can Age with Dignity and Secure the Care they Desire Should a Health Care Crisis Strike.

As the 78 million baby boomers born between 1946 and 1964 in the United States enter their retirement years, planning ahead for long-term care has become a matter of urgency for an otherwise strong-willed and independent generation. However, after bootstrapping their way to financial independence, the thought of losing their mental or physical abilities and having to rely on someone for help can be simply Read More

Plano Elder Law Attorney: Having THAT Conversation with an Elderly Parent

  Many of us are lucky enough to have our parents around long enough for them to know their grandchildren and great-grandchildren. If you are one of the blessed, consider yourself lucky. However, there is one thing that you may eventually have to face – a parent who should not live at home alone anymore. As a Plano elder law attorney, I highly recommend that you talk to your parents while they are Read More

Estate Planning When You Have No Heirs

It’s entirely possible for someone to have an estate and no one to inherit it when they die. It could be due to not having children of one’s own and no other family. It could also be due to outliving all of one’s relatives, or not having relatives who live in the United States. Whatever the case may be, just because someone doesn’t have any heirs doesn’t mean that they should forego estate planning. There are plenty Read More

Pet Trusts…They’re Not Just for the Rich and Famous

Not too long ago, a person who decided to leave an inheritance behind for their pet might be considered eccentric, to say the least. Take, for example, the case of Leona Helmsley: when she died in 2007, she left her dog Trouble an inheritance worth $12 million. While there may have been other factors weighing in on her decision (such as sending a message to her grandchildren), Helmsley’s wishes for making sure her Read More

Plano Elder Law Attorney Answers: Is Long-Term Care Insurance a Good Investment?

As a Plano elder law attorney, I get this question quite a bit. Should I invest in long-term care insurance? The answer is….maybe.  Let me explain. First, you should consider the fact that the Department of Health and Human Services estimates that anyone reaching the age of 65 years has a 40% chance of entering a nursing home, with a 20% chance of staying there for at least 5 years. So, the chances are Read More

How can I prevent my new spouse and adult kids from fighting over my house when I’m gone?: Creating a life estate.

A common concern for those who have remarried is wanting to leave the bulk of their estate to their adult children without abandoning their current spouse. The solution? Create a life estate. A life estate allows a person to use a property for the rest of their natural life, but not own the property. For example, Larry in Texas lives with his second wife, Jane, and stepchildren on the ancestral farm he inherited Read More

What Can Adult Children Do When Elder Parents Need Help and the Spouse Disagrees?

It’s a common story among blended families: an aging parent becomes ill and the parent’s biological children clash with the parent’s spouse. While some of these disagreements are generally small, there are times when the disagreements are not only great, but the child also fears for the parent’s health and safety. Even though spouses have the privilege to make decisions on each other’s behalves, there are times when Read More