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Volume 2 - Issue 6

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In this Issue:

Should You Sell Your Life Ins. Policy to Raise Cash?
A Note from a Reader
Debt - The Blind Spot
The Savvy Senior
How Do Older People Use E-mail?
FraudWatch
Newsbytes
Legacy Spotlight
Crossword Puzzle/Sodoku!

Should You Sell Your Life Insurance Policy to Raise Cash for Necessities?

Lawmakers in several states recently passed legislation to outlaw a practice that critics say preys on America’s elderly:  an insurance transaction in which investors persuade seniors to purchase high-dollar life insurance policies and then transfer a significant portion of the death benefits to strangers.

Known as stranger-oriented life insurances, or STOLI, the practice has become prevalent nationwide, particularly as Baby Boomers inch toward retirement and insurance options are aggressively marketed to an aging US populace.

TO READ MORE...

A Note from a Reader

Courtesy of Karl M. Dhana, MD, CMD Senior VP of Medical Affairs / MorseLife, Inc.

As a geriatrician and the medical director of the largest nursing home in Palm Beach County, I read your article “How to Choose a Nursing Home” (Vol. 2 Issue 5) with keen interest. Everything that was outlined is absolutely correct. I would like to add two very important things that every family should consider. In fact I would go as far as to say that they are as equally important or more important than what is listed on the Medicare website.

First, the reputation of a facility from someone who has had a loved one in that nursing home will tell you more about the quality of care in that nursing home...

TO READ MORE...

Debt - The Blind Spot on America’s Road to Retirement:

Study shows that debt looks different to Baby Boomers than to the Silent Generation

By Claire Yezbak Fadden / LifeAfter50.com

The greatest risk to financial security during retirement may be what the debt consumers don’t see today.

A recent survey of consumers found that 46 percent declined to classify at least one common financial obligation - outstanding balances on credit cards or home-equity lines of credit, overdue utility bills or “payday loans” from friends or family members - as debt.

TO READ MORE...

The Savvy SeniorLegal Help for Seniors

By Jim Miller

Dear Savvy Senior,
What do elder law attorneys do? My parents need some legal help with an insurance problem and a long-term care issue but have limited funds. What can you tell us and where can we find help.

Legally Gray

Dear Gray
When it comes to specialized areas of law, most people are more familiar with corporate, criminal or even divorce law than they are elder law, but elder law has become one of the fastest growing fields in the legal profession. Here’s what you should know:

Elder law is a sub-specialty within the practice of law that focuses on the issues specific to older citizens, as well as people with disabilities and their families. Some of the areas that fall under the umbrella of elder law include:  estate planning, wills, probate, trusts, management and administration of estates...

TO READ MORE...

How Do Older People Use E-mail?

Courtesy of SINC (Information Service and Science News) / www.plataformasinc.es

Studies on how older people use and interact with e-mail in their daily lives were conducted recently by the Universidad Pompeu Fabra in Barcelona, Spain. The results will be used to design new e-mail systems that are more intuitive and accessible.

Electronic mail, or e-mail, is the internet application used the most, even by older people who haven’t grown up with information and computer technology and have had to put in greater effort to learn to use it than younger people. However, social scientists and technology experts still know very little about how older people or the elderly interact with e-mail systems in their daily lives.

TO READ MORE...

FraudWatch Debit Cards Have Some Disadvantages

Bill Lynott / www.AmericanDrycleaner.com

Cash may not be obsolete, but it’s taking a back seat these days to those little plastic rectangles found in just about everyone’s wallet or purse. For years, there was just one type, the credit card. Now, the debit card is proving even more popular. While the two have similarities, there are important differences you should keep in mind.

TO READ MORE...

newsbytesNewsbytes

A just-released study from one of the nation’s brain training leaders, LearningRx, shows that brain training can improve brain function and raise IQ, even for people well into their 70s. “This study proves what we’ve known for decades,” says Dr. Ken Gibson, Founder and President of nationally franchised LearningRx. “The right type of brain training can help anyone get smarter. This shows that adults and seniors don’t have to settle for their current mental capacity. At any age, they can use brain training to boost their IQ to get an advantage in a competitive job market, or to slow and reduce some of the mental effects of aging.” Learn more at www.LearningRx.com.

TO READ MORE...

scales of justiceLegacy Spotlight

Asset Protection and Estate Planning Starts Today

by Sean Robertson, Wealth Preservation Attorney

Here is a hypothetical but all-too-real scenario:
John walks into his attorney’s office and asks, “What happens now?”
His attorney takes a deep breath and says, “I need to review what assets you own, and I will tell you what property you can lose now that the lawsuit is over.”

“I thought I had insurance for this. What happened?” asks John.

TO READ MORE...

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