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Seniors Corner For individuals who are entering their golden years or family members assisting their loved ones to make a decision or may be in a transition, there are a few things that each one should know and should prepare for this unique stage of our life. Learn about these important concepts and take advantage of our special opportunities available for American Citizen seniors. As each one of us, get older. We should make sure that we educate ourselves with these related issues and benefits. |
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Insurance
At the age of 65, American citizens gain access to Medicare; however, it has become increasingly common for senior citizens to want or need additional medical insurance. While Medicare can cover serious medical procedures and conditions, it does not cover all annual checkups, follow-ups and some routine expenses. Seniors should decide whether or not these medical expenses warrant purchasing additional medical or supplemental insurance. Another type of insurance to consider is life insurance, whether that be term, universal, whole life, final or endowment life insurance. Choosing the right life insurance policy may help loved ones in the future and protect against life's unexpected circumstances. Estate Sales
For individuals or couple who are moving and needing to get rid of their possessions, or for families that have just experienced a loss of a loved one, an estate sale can help cover for expenses or offer access to a short term revenue. Typically performed by a private auctioneer or professional estate sale agent, estate sales should be publicized, have a documented inventory, present reasonable pricing on each item, and offer some security to prevent theft. If you do decide to hire a company to run an estate sale, they usually have a fee of 25-35% on items sold. Take care of research and ensure that they are a reputable Affordable Housing for Seniors
The U.S. Department of Housing and Urban Development (HUD) has created several programs to help seniors with the cost of living. Programs include public housing, housing vouchers (formerly Section 8) and Affordable Senior Housing which falls under Multifamily Subsidized Housing (Section 202). Learn more by visiting HUD.gov |  |
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Legal Services
Every adult should have a last will and testament just in case life's unexpected occurs, but it is particularly important to have the following documents in place with seniors. Setting up many of these documents may take some time, but these legal instructions are a vital part to determine the fate of your estate, special requests, and other important matters. Every elderly citizens should consider legal services in cases of age, discrimination, abuse, health insurance issues, debt collection defense, patient rights, and guardianship. It is also a protection for the individual's loved one to avoid probate when life's unexpected do occur. |
