One of the best ways to incorporate all of this planning together would be the establishment of a revocable living trust or standby revocable trust. A funded living trust gets trustee services right away. Services such as investment management, or administrative tasks such as paying the bills each month. On the other hand, a standby…
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Do You Need a Will If You Are a Solo Ager?
Yes, you do. When you die without a will or trust, the law defaults to a set of statutes that are collectively known as the laws of intestacy. In general, these laws direct how an estate will be divided among a decedent’s relatives. For the Solo Ager, those distributions may not be in accordance with…
Can You Defend Yourself Against Financial Scams and Undue Influence?
Although seniors may be considered by some to be the most vulnerable to financial scams, the recent increase in social media scams and text message scams proves that all generations are susceptible and, in some cases, younger generations are even more susceptible. For a solo ager, the family safety net concerning financial scams disappears. Vigilance…
Why Should the Solo Ager Choose a Corporate Fiduciary?
For the Solo Ager, these benefits of working with a corporate fiduciary (such as Garden State Trust Company) should be given careful consideration: A corporate fiduciary is held to the highest legal standard of always putting their client’s interest first. A corporate fiduciary does not take vacations, get sick, or move away. A corporate fiduciary…
Who Will Oversee Your Lifecare Services?
Garden State Trust Company, acting as a corporate fiduciary, provides oversight of care management agencies and others on behalf of clients with our Lifecare Services. This allows us to act as the concierge to many additional services to enhance our client’s aging experience, such as: Arranging for Long-Term Care Insurance when appropriate Arranging for Medical…
Who Will Decide If You Can’t?
Just because we always have, does not mean we will always be able to. State laws provide for a default in the event of a person’s incapacity, but those defaults are generally geared toward familial support. Solo Agers should be especially careful to put advance directives and documents together ahead of time so they get…
Where Will You Live?
According to a 2021 study done by the AARP, three quarters of those over age 50 wish to remain in their current homes, yet only 34% recognize that they may need to make physical changes to their house for continued access. A Solo Ager should consider modifying the bathrooms and installing ramps and lift bars…