AIM

Financial Issues

how to store my important documents

How to safely store your financial and legacy documents

You may have wondered, how to store my important documents? It is crucial to store your estate planning documents like your will, living wills, powers of attorney, trusts, medical directives, and financial information securely somewhere your survivors can easily access. Additionally, you need to securely store information about birth certificates, marriage licenses, even divorce decrees, […]

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talk to aging parents

How to Talk to Aging Parents About Finances and Estate Planning

It is essential that as your parents’ age, you have conversations with them about their finances. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and how it relates to the security of their financial future. The conversation should come from a calming place of

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senior living workforce Covid-19

Senior Living Workforce Issues During the Coronavirus Pandemic

Fears that provisions in a coronavirus-related relief action by the US government could have severely curtailed the workforce in senior assisted living, independent living, memory care, and continuing care retirement communities provide a cautionary tale. The bill, HR 6201, is a multi-billion dollar aid package known as Families First Coronavirus Response Act. The bill has recently been signed

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gift tax

Understanding Gift Taxes

The gift tax is a tax on the transfer of assets, cash or property, to another without receiving something of equal value. The asset has to be of a certain value for the tax to apply; otherwise, it falls under the gift tax exclusion, either annual or lifetime. If the gift is above a certain

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future of assisted living

The Future of Assisted Living

With changes in medicine, technology, and socioeconomics, it’s no surprise that that assisted living is changing, too. The rising cost of assisted living means that some families are looking to new alternatives, while those who consider traditional assisted living have new options to consider.   Alternatives to assisted living include multigenerational housing and in-home care.

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