care-giving


When families disagree about elder care, try mediation before litigation

Siblings trying to come together to help mom or dad through the aging process will often run into more road blocks than they expect; and quite often these road blocks are internal. Can mom stay home for a few more years, or does she need round the clock help? Should the sister who lives down the street from dad get financial reimbursement for driving him to doctor’s appointments and the grocery store four times a week? How do you tell mom you think it’s too dangerous for her to drive by herself anymore?

These kinds of questions (and more) can end up leading to huge family fights, and in some severe cases, to litigation. This article in Smart Money suggests that when siblings can’t agree on elder care for aging parents, there is an alternative to litigation: An Elder Mediator.

Elder Mediators are mediators who specialize in elder law, caregiving, and elder decision-making issues. These mediators can “help families work through concerns — and fights — involving caregiving, inheritance, living arrangements, estate planning and related issues.”

[Click the title to read the full post.]


Baby Boomers Hurting Their Chances At Retirement

According to this article in the Wall Street Journal, many Baby Boomers are no longer worried about when they will be able to retire, but if they will be able to retire at all. In many cases the reason for this worry stems not so much from any kind of selfish inability to save, but from a tendency to be too generous.

In addition to a growing trend (hinted at in the WSJ article above) of Baby Boomers tapping their own retirement funds to help pay for the care of their elderly parents, this article in USA Today warns of the all-too-common danger of Boomers shorting their own retirements to pay for their children’s college educations.

“People are willing to go to extreme measures because they value a college education so highly… Among parents who are planning for their children’s college, 24% say that they tap their retirement accounts. And that doesn’t reflect people who reduce or halt retirement contributions [to make tuition payments.]”

[Click the title to read the full post.]