A Valentine's Message To Our Readers: Online Dating Safety Tips

We are lawyers, not matchmakers. That said, as elder law and estate planning attorneys we often meet older people who are looking for companionship. With so many people of all ages using online dating sites, we are taking this Valentine's Day to offer some tips for staying safe online.

Now a multi-billion dollar industry, dating sites and apps have allowed many people to find true friendship, romance, and even marriage. But inevitably, the industry has also attracted its fair share of cyber-criminals. Older people who may be less tech-savvy than younger generations may be particularly susceptible to online predation. And while both men and women can become victims, the FBI says that women over age 40 who are widowed, divorced or disabled are targeted most often. Here are some fundamental rules for staying safe: 

• Amy Nofziger of the AARP’s fraud unit emphasizes being alert to bad grammar. Why? Offshore scammers often use translation software that produces less than intelligible messages. 

• Be cautious if your online friend seems in a hurry to communicate with you by text, phone or email. He/she may want to get around the dating site's privacy controls.

• Does your online contact profess love and loyalty too early in your communication? Don’t allow yourself to be duped into a premature sense of trust. 

• It is common for fraudsters to find reasons they cannot meet you in person. Your contact may claim to be traveling on business, hospitalized, etc. 

• Once a fraudster has your trust, he/she will put the squeeze on you. You may be asked to wire money for a medical emergency, financial crisis, etc. If you had future plans to meet personally, you may be told that your contact needs money to travel to see you. 

• Nofziger also recommends that you do your own cyber-sleuthing. You can google names, emails, phone numbers to see if the person has a legitimate web presence. You can even do a reverse image search: Drag the person’s photo into google and you can find out where the image has appeared. If it’s a stock image and/or or you find multiple profiles using that image, you know the person is not on the up and up.  

• Do not hesitate to contact the dating website if you suspect attempted foul play. 

• If you arrange an in-person meeting, select a public place, preferably during daylight hours. And let someone know where you are going.

There are numerous dating sites that cater to mature people. Some are free, some not. Each site has its own policies and fees, so research carefully. Happy Valentine's Day!

Be Your Own Superhero: Protect Yourself From Financial Predators

Spider Man. Ant Man. The Fantastic Four. The Hulk. These comic book superheroes sprang from Stan Lee's imagination and made their creator a wealthy man. But at 95, the Marvel mogul's own powers appear diminished, potentially putting him and his estimated $50-$70 million fortune in jeopardy.


No superhero is swooping in to save Lee - but there is Tom Lallas, Lee's former estate planning attorney. Lallas recently filed a petition with a Los Angeles court alleging that Lee is being abused by his business partner, Keay Morgan. Lee reportedly has hearing, visual and possibly cognitive impairments. The court issued a temporary restraining order against Morgan on June 13 and appointed Lallas as Lee's legal guardian, pending further investigation.


Morgan deals in artifacts related to cultural figures, particularly Marilyn Monroe and Michael Jackson. He met Lee years ago through Lee's daughter and only child, J.C. Both Lee and his wife Joanie have had a combative relationship with their daughter, with disputes often revolving around money (more on that later). When Joanie passed away in July 2017, Morgan stepped in as Lee's caregiver. According to the court filing, Morgan began isolating Lee.  He fired Lallas and other longtime staff members, including the housekeeper and  gardener. He replaced Lee's accountant with his own friend. He changed Lee's phone number and refused to allow family and friends to visit. He also moved Lee out of his longtime family home and into a condo.


The Los Angeles police are currently investigating the matter. It is far from clear-cut; Lee himself has defended Morgan's behavior. On one Twitter post he wrote: "I just want to go on the record and say I have only one partner, only one person who does represent me, and that's Keay Morgan. Anybody else who claims to be my rep is just making that story up." Whether that post was actually written by Lee is not known.


Daughter J.C. is now 67. According to an  April 10, 2018 story in The Hollywood Reporter, she has never been self-supporting and relies on funds from the trust her parents established for her. A prodigious spender who reportedly blows through $20,000 to $40,000 every month, she nonetheless resents the trust's financial restrictions and has been known to take out her frustration on her parents. The family housekeeper recalled that J.C. would phone her father several times a day to berate him about money, leaving Lee hoarse and agitated from fighting with her. At one point he allegedly said he would cut her off completely. Another individual familiar with the family relates that in 2014, J.C. became infuriated when she learned that a new Jaguar parked in her parents' driveway was a leased vehicle in her father's name, and not a gift for her. She physically attacked her mother and father. The Lees did not press charges out of concern about negative publicity and the impact on their daughter. 

Legal Steps You Can Take To Protect Yourself From Financial Predators

Regular readers of this blog will recognize that this situation is not an outlier. Elder financial abuse is becoming increasingly common as Baby Boomers age. Numerous initiatives continue to be taken at both the state and federal levels to protect seniors and to encourage reporting of potential abuse. One recent step in that direction is the federal Senior Safe Act, which you can read about here. 


You can also take your own proactive steps to protect yourself and your assets from financial predation. We often recommend establishing a Predator Protection Trust for clients who are concerned that as they grow older, their adult children or others may try to take advantage of them financially. It is an unfortunate fact of life that it is family members - the ones we should be able to trust the most - from whom we most need protection.

How The Predator Protection Trust Works

A Predator Protection Trust is an irrevocable trust in which you specify how the trustee may expend funds on your behalf. This gives you, the grantor of the trust, the ability to establish a trust for your benefit and anyone else you desire, and put someone else in charge. Then, when demands are placed on you for money - usually from a "loved one" - you can respond that you cannot meet those demands because you have no authority to give money away. 


You may appoint one or more trustees.  Some clients select a financial institution, or their accountant or lawyer as co-trustee along with a family member. 


Here's a case I had that illustrates the value of this kind of trust. My client complained about a conniving granddaughter who was constantly bullying her and demanding money. She had given in to the badgering many times. My client was exhausted from the battle, and was increasingly worried about her own financial welfare. We solved my client's problem by setting up a Predator Protection Trust for her. I then followed up by sending a letter to the client's granddaughter, and to all her grandchildren and children, indicating that the client no longer had control of any of her assets under her new irrevocable trust and therefore would no longer be able to gift any assets to them. I explained that although my client presently had full competency and capacity, she recognized that she could lose capacity in her declining years and become vulnerable to financial manipulation. The Predator Protection Trust provided my client with peace of mind because she now knew her assets were kept safe for her use, and that her loved ones' inheritances were also secure.



Contact our office at 561-625-1100 to discuss establishing a Predator Protection Trust.

Karp Law Firm Helps Sponsor Tribute to Senior Volunteers

The Karp Law Firm is one of the sponsors of the Area Agency on Aging's 26th annual Prime Time Awards Breakfast. The May 24 event honors seniors in Palm Beach, Martin, St. Lucie, Okeechobee and Indian River counties who have made outstanding contributions in volunteer work. If you know a senior volunteer who deserves to be nominated, you can download the nomination form here. There are a variety of nomination categories - for example, Foster Grandparent, Law Enforcement, etc.

If you wish to attend the breakfast, find more information here. We will be there!

Holocaust Survivor, Marathoner, Volunteer

Nat Shaffir has seen more than most. A lot more. Born in 1936 in Romania, he later managed to escape Nazi-occupied Europe. He was shot at while serving as a paratrooper in the Israeli army. He made his way to the United States. At the age of 65, Shaffir took up running marathons. He has run 11 so far and hopes to complete another race this year.

As one of the youngest Holocaust survivors, he volunteers at the U.S. Holocaust Museum in Washington, D.C., telling his own story and the story of so many who, unlike him, didn't survive. "I'm their voice," says Shaffir.

Shaffir is a hero and an outstanding volunteer. There are more like him among us. In May, the Karp Law Firm will help sponsor the Palm Beach County Area Agency on Aging's Prime Time Awards, honoring outstanding senior volunteers in our own communities, including Palm Beach, Martin, St. Lucie, Indian River and Okeechobee counties. When nominations open up, we'll share with you how to nominate your own hero volunteers.

For now, check out Nat Shaffir's biography on the U.S. Holocaust Memorial site.

House Tax Bill Raises Concern Among Advocates for Seniors, The Disabled

Debate on the proposed tax overhaul is heating up. Both chambers of Congress have now produced their own bills which have significant differences.

Advocates for older Americans and the disabled have strongly criticized a key provision in the House's Tax Cuts and Jobs Act. The bill eliminates the itemized medical expense deduction, which currently allows taxpayers who spend more than 10% of their adjusted gross income on medical costs to deduct a portion from their taxes. It is anticipated that older Americans, the chronically ill and the disabled - those who tend to have high medical expenses - would be most impacted. Out-of-pocket costs for long-term care would not be deductible, nor would premiums for long-term care insurance, co-pays, etc.  

Only about 6% of filers - 8.8 million households - itemized medical expenses in 2015, reports the IRS. But of those who did, the AARP notes, 74% were over the age of 50, and half had incomes of $50,000 or less.

House Republicans counter the criticism by noting the small percentage of Americans who take the itemized deduction. They assert that overall, the proposed bill would be helpful to seniors. Republican Rep. George Holding of North Carolina states: "In the context of tax reform, this targeted deduction is no longer vital thanks to the other tax benefits for seniors and all Americans provided in this bill."

Another area of concern for some is the elimination of the Orphan Drug Tax Credit, which allows pharmaceutical and biotech companies to deduct up to 50% of the cost of clinical trials for treatments of rare diseases, such as Lou Gehrig's Disease and Huntington's Disease. Orphan drugs target diseases that affect less than 200,000 Americans.

Many are also worried about the House's plan to do away with the tax deduction for interest on student loans, which was claimed by 12 million filers in 2015. The tax break is available to single taxpayers who earn up to $80,000 per year, and married couples who earn up to $160,000 per year.

You can read the House bill here.

Read a summary of the Senate bill here.

Reverse Mortgage Borrowers Face New Rules Effective October 2, 2017

The Trump Administration has rolled out new rules for federally backed HECM (Home Equity Conversion Mortgage) reverse mortgages.  The new rules go into effect October 2, 2017 and will affect new borrowers only. A reverse mortgage allows a person age 62 and over to borrow against his/her home’s equity without having to pay back the loan until the borrower moves, passes away or sells. Many seniors with equity in their homes turn to reverse mortgages to generate needed cash in retirement.

For the typical borrower, the new rules increase the upfront cost of the loan while decreasing the amount of funds available. The main changes are:

• The initial mortgage insurance premium for all borrowers will be 2%. Prior to the new rule, borrowers tapping less than 60% of home equity in the first year paid an initial premium of .5%, and those borrowing more than 60% paid 2.5%.

• For all borrowers, the ongoing annual premium will drop  from 1.25% to .5% of the outstanding mortgage balance.

• The amount that borrowers may access, while still pegged to age and ongoing interest rates, will decline for most. At current interest rates, the average borrower will be able to tap about 58% of the value of the home, down from 64%.

According to the Department of Housing and Urban Development, these changes are needed to ensure the continued viability of the federal reverse mortgage program. Last year, the program was $7.7 billion in the red. Without these changes, a bailout from Congress would be necessary.

Seniors should exercise caution when considering a reverse mortgage. Without sufficient information, a reverse mortgage can place a borrower in significant financial peril. Read more about deceptive reverse mortgage advertising here.


Read more about the October 2 changes to the HECM program here. 


Read HUD information on federally backed reverse mortgages here.

Luxe Living for Seniors a New Trend

While the majority of Americans worry about having enough money just to last their lifetime, there's a vastly smaller group with a different set of concerns: Ultra-wealthy seniors who live in luxurious surroundings, and want to keep it that way. It's that group that's starting to catch the eye of developers.

Enter a new housing market: upscale, boutique-style living that goes above and beyond the traditional senior living community in furnishings and services. Not surprisingly, Manhattan is where the new trend is getting its start.

For example, Bloomberg reports that Maplewood Senior Living, which owns assisted living properties nationwide, has invested with Omega Healthcare Investors to build luxury housing for aging individuals on 93^rd Street and Second Avenue, on Manhattan’s east side. Assisted living, enhanced care and memory care units will be available. With high-end finishes and furnishings throughout, the 23-story building will have a doorman, movie theater, salon, spa, heated indoor swimming pool, library, and a skypark indoor garden on the 16th floor. Maplewood's own farm will supply food, so the property's various dining venues will provide farm-to-table gourmet fare. Staff, who will not wear clinical-looking clothing, will be able to arrange for Broadway tickets and restaurant reservations. The building is set to open in 2019.

I bet I know your next question. Here's the answer: Units start at $12,000 per month. 

Manhattan's midtown area, at Lexington Avenue and 56th Street, is also getting an upscale property for seniors. Welltower Inc. and Hines' 16-story project will feature luxury apartments with 10-foot ceilings. The developers are consulting with designers to produce an environment that is as safety-conscious as it is sumptuous. Carpet and wall colors and patterns will not be too contrasting or confusing. Handrails will be integrated with hallway wainscotting. During the day, hallway lighting will have a blueish cast to promote wakefulness; in the evening, it will have a yellow tint to promote sleep. Bloomberg reports that rent for some units will exceed $20,000 per month.

 

Can you afford this kind of lifestyle but don't want to move to New York? Not to worry. Similar projects are being eyed for Miami, Los Angeles and London.

Medicare staff still using improvement standard to deny claims

Medicare beneficiaries must be covered for skilled rehabilitation services if the services help the beneficiary maintain his/her level of functioning and prevent disease progression. Medical improvement is not necessary for coverage. This was made clear in the Jimmo v. Sibelius case, which I told you about in a prior post. That ruling  is of particular importance to those with chronic conditions such as arthritis, cardiac disease, Parkinsons, etc.


Unfortunately, even now, seniors are often wrongly denied Medicare coverage based on the old improvement standard.  The problem has been fairly widespread, and led to a considerable outcry from Medicare advocates.


In response to a lawsuit brought by several Medicare advocacy organizations, a federal judge ruled on Feb. 2 that Medicare must better inform employees that otherwise eligible beneficiaries are covered for skilled rehabilitation so long as it prevents further deterioration. Among the required corrective actions included in the ruling: Medicare must maintain a web page devoted to the Jimmo v. Sibelius case, clearly explaining how claims should be handled. In addition, the agency must provide appeals judges, claims processors and other relevant staff with new training. You can read the judge's ruling here.  Medicare has until September 4 to comply. 


So what does this all mean for you if you are a Medicare beneficiary or caring for one? First, be sure to discuss care and coverage with your medical providers, bearing in mind that the only criterion is whether skilled rehabilitation services are necessary, not if they produce improvement. If you have been denied coverage on the basis of not meeting the improvement standard, your appeal will now have greater weight. (Information on Medicare appeals here.)

Affordable Care Act Repeal May Impact Medicare Benefits

At the top of the GOP agenda is repealing the Affordable Care Act (ACA). We do not yet know what, if anything, would replace it. Several proposals have been put forward, the most detailed one from U.S. Rep. (and Trump's pick for HHS Secretary) Tom Price, the Empowering  Patients First Act, which would provide tax credits to be used to purchase health insurance on the private market. Many Americans are not aware that the Affordable Care Act, aka Obamacare, contains many provisions that are tied to the operation of the Medicare program. Depending on whether the entire law or only Medicare-related provisions are scrapped, repeal could have a significant impact on seniors' Medicare benefits. This is an enormously complex issue, one even the most astute analysts will disagree about. One thing is certain: whether you love or loathe the ACA, it is a contentious political football. 

This post provides you with a very brief outline of the changes in Medicare many experts expect to unfold if there is a total or partial repeal. The points below do not include any consideration of a plan to replace the ACA, since we do not yet know what such a plan would comprise. 

Program Solvency Could be Impacted 

According to the Center on Budget and Policy Priorities, the provisions of the ACA have strengthened and extended the solvency of the hospital portion of the Medicare program. The hospital fund is expected to remain solvent through 2028, 11 years more than was projected prior to the ACA. Read the report here. ACA supporters contend that repealing all of the legislation or the relevant Medicare portions could destabilize the program. 

Medicare A and B Costs Would Increase 

The Affordable Care Act decreased Medicare-related payments to health care providers, including hospitals, home health care providers, nursing homes and other providers. The Congressional Budget Office report estimates that repeal of the ACA would increase federal spending, leading to an increase in Part A deductibles and co-payments and Part B premiums and deductibles. Read the report here.

Medicare Advantage Plans Might be More Expensive - But Might Cover More 

According to a report from the Medicare Payment Advisory Commission Report, the ACA has reduced federal spending on Medicare Advantage Plans. Prior to passage, Washington was paying 14% more to Medicare Advantage Plans than to traditional Medicare for similar beneficiaries. In 2016, the differential was only 2%. Repealing those aspects of the ACA related to Medicare Advantage would likely result in higher Part B premiums for beneficiaries. However, the additional fees would have to be used by Advantage plans to provide additional benefits or to lower enrollment costs.

The Donut Hole Would Not Close 

The so-called donut hole is that period of time when a Medicare beneficiary is responsible for the cost of prescription drugs. The ACA contained provisions to gradually decrease the donut hole. In 2011 the costs were capped at 50%, and are expected to be zero by the year 2020.  The Commonwealth Fund estimates that since 2010, seniors have saved $11.5 billion in reduced prescription drug costs as a result of the closing of the donut hole. Read more at Medicare.gov.

Elimination of Free Preventive Services

The ACA mandates certain free preventive care services for Medicare beneficiaries, including screenings for diabetes, breast cancer, cardiovascular disease and colorectal cancer. According to the Kaiser Family Health Foundation, eliminating this provision would likely raise Part B premiums for beneficiaries.

Higher Income Beneficiaries Could Benefit

The ACA froze the income threshold for Part B premiums tied to income, beginning at $170,000 for a couple and $85,000 for an individual, through 2019. According to the Kaiser Family Health Foundation, repeal of the portion of the law would reduce Part B premiums for higher-income beneficiaries.

Enforcement of CMS rule prohibiting pre-dispute arbitration clauses will be delayed

A new rule barring long-term care facilities from including pre-dispute forced arbitration clauses in their admissions contracts will not go into effect on November 28, as originally anticipated. (I discussed the rule in an earlier post. )

In response to a suit filed by the American Health Care Association, an industry group, a federal district court in Mississippi has granted a temporary injunction preventing enforcement of the new rule, based on the argument that the Centers for Medicare and Medicaid Services overstepped its legal authority. You can read the judge's injunction here. The issue now undergoes further consideration by the court.

Supporters of the rule have criticized the judge's ruling. George Slover, senior policy analyst for Consumers Union, stated "Congress could not possibly have intended for the Federal Arbitration Act to override every other law and leave consumers locked out of the courthouse without legal protection... and the unfairness of that is brutally clear when you consider nursing home residents who are so dependent on their caretakers, and so vulnerable to neglect and abuse."

As we wait for this issue to get sorted out in the courts, my advice remains the same: Examine the admissions contract carefully and if you spot pre-dispute arbitration language, just cross it out and don't sign that section.

Chronically ill seniors, others await Florida Medical Marijuana vote (updated 8-11-16)

Practicing elder law and estate planning in Florida, I naturally meet a good number of seniors with serious physical ailments. Many who endure chronic pain are closely watching this November's election: Not just for the outcome of this highly unusual presidential contest, but for the fate of medical marijuana in our state.

This year's ballot includes Amendment 2, the "Florida Right to Medical Marijuana Initiative." The constitutional amendment, which must be approved by 60% of voters, would expand the use of medical marijuana, giving 450,000 residents with certain debilitating illnesses access to full-strength cannabis. Proponents argue that the plant can help alleviate symptoms of certain illnesses more effectively than opioids and other classes of drugs. That's a viewpoint with which many of my clients seem to agree, as do most Floridians: A Quinnipiac poll conducted in May shows that 80% of Florida voters support the legalization of medical marijuana. Opponents of the amendment argue that medical legalization is a slippery slope that will lead to more widespread recreational use.

Currently, under Florida's Compassionate Medical Cannabis Act of 2014, the use of medical marijuana is very limited. First, the patient must be a permanent Florida resident. The physician must be state-approved to prescribe and must have been treating the patient for at least 90 days. Low-THC (non-euphoric) cannabis may be prescribed for a medical condition that cause seizures or muscle spasms, provided all other treatment methods have been exhausted. Full-strength cannabis is permitted only for those with terminal conditions who are experiencing pain and/or nausea. Read more at the website of the Florida Department of Health Office of Compassionate Use.

Medical concerns and compassion for the ill will surely be the paramount factors determining the fate of Amendment 2. However, there is an interesting economic factor at play here, too. A study by Health Affairs has discovered that from 2010 to 2013, where medical marijuana was legalized, Medicare Part D costs declined, presumably because patients' use of more conventional painkillers decreased. Moreover, if the Drug Enforcement Agency decides to reclassify cannabis as a Schedule II drug, as is currently under consideration, insurance will pick up more of the costs for patients who rely on it. Update 8-11-16: Today the Drug Enforcement Agency announced that it will keep marijuana as a Schedule 1 drug, stating, "The known risks of marijuana use have not been shown to be outweighed by specific benefits in well-controlled clinical trials that scientifically evaluate safety and efficacy."

Without a doubt, this election season has enormous ramifications for Florida, as well as for the nation. 

Felines and homebound seniors: A perfect match

My family and I have a serious soft spot for animals, so in this post I depart from the "legal stuff" to tell you about a lovely program that pairs seniors with furry feline companions. Consider it - ahem - a "fluff piece."

The humane society of Bay County, Michigan recently launched the Cats for Companionship program, which identifies homebound seniors who can benefit from having a pet and are capable of caring for it. The program provides the cat and everything else - food, toys, veterinary care - free of charge. For the adopter, the benefits of having a furry companion are well-documented: it eases stress and loneliness, reduces blood pressure, etc. And the cats, all hard-to-place older animals, get a loving home. A win-win situation.

I think this would be a wonderful program for our area, too. Of course the senior would have to reside in a place that allows pets, and not be allergic to cats. (My wife is, but we have one anyway - go figure!) Is anyone willing to take on creating such a program here?

If you have any doubt about the deep bonds that can exist between human and feline companion, check out this story of a cat that miraculously found its "missing" owner after the owner moved into a nursing home. 


Lastly, if you have a beloved pet and want to ensure its welfare if it outlives you, remember that Florida law permits your pet to be included in your estate plan. Contact our firm for more information.

Downsizing Tips for Seniors

Downsizing - simplifying, organizing and getting rid of clutter - can improve quality of life at any age. For seniors, it can be especially beneficial. See the tips below for seniors who are considering downsizing. This guest post is from community outreach manager Daniel LoFaso of Lourdes McKeen, a retirement and independent living facility in West Palm Beach, Florida. 

Downsizing can be helpful for seniors, creating less stress and fewer responsibilities during a time when it may be most beneficial. There are many ways to downsize various areas of your life, from cleaning out a house to getting finances in order. Some practical ways for seniors to downsize include the following suggestions:

Lighten up your life. Seniors can make a proactive move in their downsizing efforts by getting rid of clutter now. This includes the items that you are planning to give to others, such as cherished keepsakes and family heirlooms which typically are belongings that might get saved over the course of time. When cleaning out the house, you may consider starting a posterity box, which is intended for these items, and giving them to relatives or friends now in order to help downsize and make a positive step toward simpler living.

Consider communal living. When you are truly ready to downsize, consider moving into a communal living situation. This doesn’t mean that seniors have to move in with family or friends, but rather it might be pragmatic to consider relocating to a like-minded community. Many of these living situations, such as senior living communities, offer step-down living facilities that make planning for the future easier and more secure.

Some communities may offer independent living for seniors who desire the ability to come and go as they desire, while others may offer assisted living or skilled nursing (or a combination of all three) in the event that residents need more comprehensive care. Many may offer subsidized housing for those seniors with limited resources, too.

Take a look at your finances. It pays to spend some money to gain insight and information related to financial downsizing. Invest in legal representation with expertise in elder law, probate, and estate planning to make important decisions about your finances and investments. This may include setting up trusts, making charitable contributions, making long term care (LTC) considerations, and preparing a will.

Warm up to the idea of moving South. There is a reason why seniors flock to Florida once retired; the warm weather is a pleasant reprieve for many but it may also reduce the cost of living for many that are accustomed to colder climates and higher energy costs. Florida, in particular, has a lot to offer seniors and many areas are known as retirement communities. These regions might be the perfect reprieve for aging consumers looking to downsize and make life simpler. It also doesn’t hurt that Florida doesn’t have state income tax, making your retirement dollars go farther.

Do you really want to drive? If you enjoy driving or plan on using your vehicle during retirement, then by all means, do so. However, extra vehicles equate to extra costs and burdens. Where will you park? Have your insurance rates recently risen? Consider, instead, using public transportation or other means in lieu of the costs and commitments of owning or operating a vehicle. Some senior communities may offer shuttles to get residents where they need to go.

Make a donation. Downsize your life by donating goods, belongings, or resources to a worthy charity of your choice. This has the advantage of helping others that may be less fortunate, while also providing a helpful tax break for those that request documentation of the donation. Ask for a receipt of the transaction and use online calculators to figure out the tax break when completing your return.  

Downsizing has many benefits, particularly for seniors: Taking care of important matters now will make planning for the future easier, while ensuring your loved ones aren't left making decisions on your behalf. Talk with your legal expert to determine the best approach to fulfilling your final wishes and naming someone to have power of attorney over your affairs, should the time come that warrants this appointment. Be sure to complete a living will to ensure that your wishes are met and that there are no questions later regarding your care or treatment.Keep a copy with your insurance information, financial papers, and other important documents.

There are many ways to look at downsizing and it can make life a lot simpler and relaxed, particularly if you are a senior. Consider your living situation and how this may be contributing to your burdens; does it make sense to move?

Be sure to talk with a legal expert to determine how to best plan and address your finances to keep life simple but funded. Prepare documents now to ensure your final wishes are laid out and that there are no questions regarding your finances, care, and treatment when the time comes to make these tough decisions.

Downsizing now can provide a sense of security that makes retirement and aging a lot less worrisome, and that can help to make it a time to relax and enjoy the things that bring personal joy, satisfaction, and fulfillment.