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The Legal Implications of Solo Aging

A live & interactive discussion that will dive into legal planning, challenges, and solutions for current and future solo agers! Co-hosted by Carol Marak, Author of Solo and Smart 

Featuring: JOSHUA D. WINGER, Attorney Byrd & Byrd, Attorneys at Law

Listen on Podcast

Questions answered in the discussion: 

  • As a solo ager with no people to whom I want/need to leave money, but also no one to take care of me, the challenge is how to plan the spend down of my wealth.  Ideally I would spend the last penny as I jump in my grave.  Annuities have, in my view, lots of complications and restrictions and other problems.
  • Banks:  What if you have $1 million but it is in real estate?  Do banks require $1 million in liquid assets?
  • Steve, Please tell us the expeted duration of this Webinar.
  • If you have more than one back up successor, how do they make decisions if they disagree?
  • Please address options for those of us with no savings, assets (other than house with mortgage for 80% of house) or retirement beyond Social Security...
  • I have a health care agent plus a backup.  If I add more, with sequencing, do I have to redo the document and must it be notarized?
  • So on safe desposit box you can name someone who can have access only if you die or are declared incompetent?
  • I have been told most banks will not accept my general power of attorney, but require their own forms.  True?
  • Revocaable Trust, does a general statement that " I hereby put all of my property in my trust," does this title the property to the trust?Thank you so much
  • If you have already added your children to a bank account to handle things in an emergency situation should I try to undo that?
  • This is much more of a problem as we have shifted from defined benefit to defined cost pension plans.
  • Thank you!
  • What about a pour over willl to the trust?
  • What time is Medicaid Monday at Byrd and Byrd?

Chat Transcript:

Carol MarakSolo Aging Advisor, Published Author, Solo and Smart  (2021)
Founder, Elder Orphan Facebook GroupCarolMarak.com
Subscribe to my Solo and Smart YouTube channel and receive tips on how to live the best for the rest of your life! Tips based on my upcoming book, Solo and Smart, coming to bookstores and Amazon in 2021.
Featured in: NYTimes, NextAvenue, Huffington Post, Wbur - here & Now, AARP, USA Today, PBS, US News, Washington Post, Chicago Times, Austin American Statesman, Fort Worth Telegram, Homecare Magazine, ASAging, VolunteerMatch, Health Technology Forum, and more!


12:05:46     From  Jessica Fredericksen : Good morning! Jessica Fredericksen, Brain Health Program Manager at Goodwin House Inc. Learn more about our StrongerMemory program at www.strongermemory.com or email me at jfredericksen@goodwinhouse.org 

I am also a Certified Alzheimer's and Dementia Care Trainer- reach out if you are interested in the training required to become a Certified Dementia Practitioner!

12:08:51     From  Steve Gurney - ProAging Sourcebook : Carols website https://carolmarak.com/

12:12:45     From  Lin O'Neill   to   Hosts and panelists : Will we be able to obtain a recording of this WONDERFUL presentation?

12:13:51     From  Steve Gurney - ProAging Sourcebook   to   Lin O'Neill and all panelists : absolutely it will be at https://www.retirementlivingsourcebook.com/digital-discussions

12:16:30     From  Peggy Floria : You can also be a solo ager if you have kids and siblings if none of them are willing to help.

12:19:45     From  Stephanie Swerdlow : would you be to share the slides please

12:23:05     From  Thomas Batcho : Hello  Thomas Batcho from

12:23:15     From  Thomas Batcho : Life Force Elder Care

12:24:41     From  Steve Gurney - ProAging Sourcebook   to   Stephanie Swerdlow and all panelists : yes we can upload with the recordings at https://www.retirementlivingsourcebook.com/digital-discussions

12:25:18     From  Thomas Batcho : Tom Batcho Life Force Elder Care 3544 W. Chester Pike Newtown Square, PA.  Contact me at tbatcho@lifeforceeldercare.com.  We do live in elder care services  Hello

12:25:18     From  Jennifer Brown : Hi.  Jennifer Brown - Seabury Care Management - 202-364-0020 - jmbrown@seaburyresources.org -

12:26:50     From  Jane Forer : The bank requires a minimum for what? As a fee (surely not!). As a deposit?

12:28:48     From  Pat Charoni   to   Hosts and panelists : Please address options for those of us with no savings or assets or retirement at all (other than a mortgage on my house) too. Living on Social Security

12:29:45     From  Steve Gurney - ProAging Sourcebook : Jenny Pearson

CTS Outreach Coordinator

Department of Disabilities

Telecommunications Access of Maryland

Maryland Relay

301 West Preston St. Suite 1008a

Baltimore, MD 21201




12:32:59     From  Steve Gurney - ProAging Sourcebook : American Association of Daily Money Managers https://secure.aadmm.com/

12:34:32     From  Peggy Floria : Your life is a Team!  You should expand your circle involved in solo aging to your doctor, your therapist, your friends, your CPA, your realtor--you never know where help can come from.

12:34:36     From  Bonnie Elliott : I agree! CarePatrol helped a gentleman find care recently whose wife passed away in March. He had a team of 4 with different skills attending to his best interest in different roles.

12:35:01     From  Steve Gurney - ProAging Sourcebook : Aging Life Care Professionals https://www.aginglifecare.org/

12:35:13     From  Lin O'Neill   to   Hosts and panelists : Can you adjust the settings so we can save the Chat?

12:35:55     From  Steve Gurney - ProAging Sourcebook   to   Lin O'Neill and all panelists : we drop a copy of the chat with the recording at https://www.retirementlivingsourcebook.com/digital-discussions

12:41:03     From  Steve Gurney - ProAging Sourcebook : National Academy of Elder Law Attorneys https://www.naela.org/

12:44:27     From  Peggy Floria : I use something called a "Life and Care Directory" by PlanAhead.  It includes emergency information, names of my doctors, known health issues, medication list, pharmacy name, home information, utilities, my insurance information, legal, bank accounts, property and assets, and all of my points of contact to call in case of my death.

12:44:49     From  Peggy Floria : This is in addition to my will, POA, etc.

12:47:25     From  Steve Gurney - ProAging Sourcebook : Silvernest is built from the ground up to make homesharing a breeze. https://www.silvernest.com/

12:49:57     From  Bonnie Elliott : Also Elder Care Ready pack from Stuart Furman - https://www.eldercareready.com/

12:51:48     From  Es Peterson   to   Hosts and panelists : If the Will is filled in advance at the courthouse, is it available to others to view?

12:52:12     From  Dixcy Bosley : Recommend creative approach to house sharing.   My House Our House. By. Karen M Bush

12:56:03     From  Dixcy Bosley : Select younger, local, clinically competent  POAs and include a care manager on your team to help advocate for both you and your POA in a time of crisis.  Dixcy Bosley RN MSN. Iona Care Management

12:57:55     From  DELMA THOMPSON : That's a good question

12:58:09     From  Peggy Floria : Timing Assets:  Do you have LTC insurance already?  Get that done before you count your money.

12:58:57     From  Dixcy Bosley : Can you speak to the abusive nature of well resourced folks/ adult children  who hire an elder attorney to move money so folks qualify for Medicaid , a federal safety net for folks who are poor.

13:01:52     From  Bonnie Elliott   to   Hosts and panelists : Question in chat from Dixcy

13:04:27     From  Mary Moeder   to   Steve Gurney - ProAging Sourcebook(Direct Message) : Byrd & Byrd has Medicaid Mondays Call or Text 301-464-7448 and we can help answer the Medicaid questions and help plan for your future

13:04:43     From  Steve Gurney - ProAging Sourcebook : Byrd & Byrd has Medicaid Mondays Call or Text 301-464-7448 and we can help answer the Medicaid questions and help plan for your future

13:04:58     From  Deb Merriner : Thank you for this valuable info! Deb Merriner, Buckley’s for Seniors, Premium Companion, Concierge and Transportation Services, 703.390.0535

13:05:36     From  Cynthia Wilcox : Thank you. Great information and the three of you were terrific together.

13:05:36     From  Pat Charoni   to   Hosts and panelists : Thank you all!!

13:05:50     From  Peggy Floria : Many Thanks!!!

American Bar Association resource https://qa.americanbar.org/groups/public_education/resources/law_issues_for_consumers/healthcare_directives/

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