Aging News Alert

Financial Services

 
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More Financial Management Resources Available for Older Adults

The Consumer Financial Protection Bureau continues to roll out resources designed to help families and caregivers manage finances of older adults.

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Expert Answers Fundamental Questions about Estate Planning

Many people assume estate planning is all about reducing taxes. But it's also about making sure your assets are distributed according to your wishes both now and after you're gone, says Walter Petiri, a registered financial planning adviser and owner of Maryland-based Financial Management Strategies LLC.

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Protecting Elderly Loved Ones from Financial Scams

Ten percent of people over the age of 60 suffer from some form of financial exploitation every year -- including not just con artists, but also predatory marketing practices from retailers and even shady “charities” looking to cash in on the generous holiday spirit.

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Living Trusts: A Tool for the Living

The living trust can be used as a tool to manage your property, and can be especially helpful if you become incapacitated because the successor trustee can manage your property, rather than a court-appointed trustee, which takes time.

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Seniors’ Home Values Reach Highest Level in 6-plus Years

Americans 62-years old and older now have more equity in their homes than at any time since early 2008.

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New Rules Make Reverse Mortgages Less Risky

Two new rules for reverse mortgages kicked in on Monday (Aug. 4) and are designed to protect spouses. The new rules are important because the specialty mortgages, which provide cash payments against home equity to Americans over the age of 62, are notoriously known as risky loans.

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Colorado Seniors Community Closes $17 Million-Plus Mortgage

The Atlanta-based Seniors Housing and Healthcare Finance Team of Grandbridge Real Estate Capital has closed a $17,150,000 first mortgage loan secured by Arvada Estates Senior Living in Arvada, CO. Funding for the acquisition was provided by BB&T Real Estate Capital, Grandbridge’s exclusive...

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Seniors’ Home Equity Increases for 6th Straight Quarter

Mortgage debt held by Americans 62 and older stands at $1.08 trillion -- a slight increase from the prior two quarters when debt levels were at 1.07 trillion. Senior mortgage debt peaked at $1.143 trillion in the fourth quarter of 2009.

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Something Special for Seniors Who Use Prepaid Cards

Prepaid cards are becoming a popular alternative to traditional checking accounts for many older adults because they can be cheap and easy to use. But there can be fees and downsides.

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Tax Breaks Enjoyed by Seniors May Soon Expire

A number of tax breaks currently enjoyed by millions of older Americans are set to expire at year’s end, including deductions allowed for some charitable giving, deductions for private mortgage insurance, sales tax and debt forgiveness. Indeed, you may be paying more in 2014.

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