The often wrenching transition to caring for aging parents is one that many children will face. Written by a gifted journalis...Read more
Supporting Aging Parents: A Case Study
- October 15th, 2003
ABCNEWS.com financial expert Adriane G. Berg offers advice to "Elaine," a 29-year-old with modest income and savings who is partially supporting her aging parents.
Ms. Berg suggests home ownership (but a home too small to accommodate a parent), the purchase of mutual funds, having Elaine's parents give her power of attorney, and looking into whether Elaine can claim her parents as dependants for tax purposes. While Ms. Berg endorses Elaine's willingness to help support her parents, her overall advice is: Put your own social and financial lives first.
To read the ABCNEWS.com article, go to: http://abcnews.go.com/sections/business/PersonalFinance/makeover990409.html (Article may be only temporarily available.)
Local Elder Law Attorneys in Ashburn, VA
The Estate Planning & Elder Law Firm PC
Bill founded The Estate Planning & Elder Law Firm, P.C. in 1994. Bill limits his practice to the areas of estate planning and administration, incapacity planning, Medicaid, asset protection planning, and elder law. He is one of (15) fifteen attorneys practicing in Virginia, Maryland and the District of Columbia, ce...
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...