If your parent has developed a condition such as dementia or Alzheimer’s, their property and personal savings are vulnerable. Someone could take advantage of them or their property.
Many people are uncomfortable talking about money, even when it is with family members. So, it makes sense that a recent survey determined that 80% of a polled 130 financial advisers stated that navigating family dynamics or relationships was the most complicated part of estate planning. The report added that common mitigating factors included multiple marriages and blended families.
The largest single transaction most Americans make involves the buying or selling of a home. This makes it essential to have the right real estate agent, particularly when the clients are snowbirds who live in other parts of the country for part of the year. According to Forbes, the number of real estate agents is forecasted to grow annually by 6% through 2026, which means there are going to be more choices.
It is common for wives to live longer than their husbands. According to a CNN report, the difference now averages five years, with men living to 76.1 years and women living to 81.1 years. So a wife will likely live for a time without their husband.