Aging News Alert

Financial Services

 
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Advocacy Group Offers Free Family Equity Lending Guide

California Advocates for Nursing Home Reform (CANHR), a nonprofit advocacy organization dedicated to improving the choices, care and quality of life for California’s long term care consumers, releases its Home Equity Protection Program Toolkit. This is a free set of tools designed to help low-income seniors protect the equity in their homes. The Toolkit includes a Family Equity Lending Guide, a “do-it-yourself” alternative to exorbitant reverse mortgage loans.

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White Paper Examines ‘Financial Security for the Caregiver’

Aging News Alert readers may want to check out a new white paper from Merrill Lynch on caregiving and the impact it can have on women’s long-term finances – titled “Financial Security for the Caregiver.”

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New Rules Will Increase Tax Burden on Inherited Retirement Plans

Congress is exploring legislation that could dramatically affect retirement plans and IRAs. Guest author James Lange, a CPA and attorney, provides some thought-provoking ideas on ways you can protect your savings.

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Tax Pros Be Warned: New Phishing Email Scam Targets You

The Internal Revenue Service is warning tax professionals about an emerging phishing email scam that pretends to be from tax software providers and tries to trick recipients into clicking on a bogus link.

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Financial Industry Self-Regulator Moves to Protect Seniors

The Financial Industry Regulatory Authority (FINRA), a non-governmental organization that regulates member brokerage firms and exchange markets, is seeking comment on proposed rules addressing the financial exploitation of seniors and other vulnerable adults.

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Proposed Rule Creates Standards for Harassment Claims

The Department of Housing & Urban Development issues a proposed rule that would formalize standards for victims of harassment in housing to bring claims under the Fair Housing Act. While no formal regulation has been in place, HUD and courts have long held that harassment in housing or housing-related transactions on the basis of race, color, national origin, religion, sex, disability, and familial status is prohibited under the Fair Housing Act. The proposed rule specifies how claims of “hostile environment” and “quid pro quo” harassment would be evaluated in both private and publicly assisted housing.

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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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