Untangling Heirs’ Property: Protecting Generational Wealth Through Estate Planning

Untangling Heirs’ Property: Protecting Generational Wealth Through Estate Planning

Written by Christine M. Parker, CFP®, APMA™, CRPC™, CSRIC®, Wealth Advisor for Family Financial Caregivers

October is Financial Planning Month and includes Estate Planning Awareness Week
(October 20–26, 2025)—a timely reminder that protecting a family home or land from tangled
title is about more than property; it’s about financial stability and generational wealth
preservation. For family financial caregivers, especially women leaders balancing careers and
caregiving responsibilities for an older parent or loved one aging in place, this is the perfect
moment to take stock: review wills, trusts, and estate plans to ensure deeds are up to date, and
work with professionals who can help prevent tangled titles from eroding generational wealth.

A Family Story: How One Piece of Land Was Lost
In 2010, my grandmother passed away. She was a widow in her late eighties, and among
her real property assets was a 5-acre parcel of land that was part of a farm located in Anne
Arundel County, which had been initially divided and passed down by my great-grandparents.
Unlike the family home, this parcel was never included in her probated estate. With no legally
recognized owner, the property taxes went unpaid for many years. Eventually, the state of
Maryland sold the land at a tax sale auction well below market value.

Last year, my grandmother’s heirs were stunned to receive a letter regarding the heirs'
property and a “right of redemption.” The news brought more confusion than hope—reclaiming
the tangled title would require a costly and complicated legal process. Faced with time
constraints and limited options, we watched helplessly as the land was lost.

Aging at Home: What the Numbers Reveal
The story reflects a much larger reality. According to the recent Caregiving in the U.S.
2025 report, 44% of care recipients now live in their own homes, and many older adults,
particularly women, are aging alone while struggling with high housing costs. These pressures
increase the risk that the house and land are at risk without clear estate planning. The likelihood
of living alone increases with age, particularly for women; among women aged 75 and older,
42% live alone. Of the 14.8 million households headed by people in this age group in 2021, 78%
owned their homes. Yet, as the 2023 Profile of Older Americans from the Administration for
Community Living (ACL) notes, homeowners age 75 and older spent an average of 37% of their
income on housing. Harvard’s Joint Center for Housing Studies defines households that spend
30% or more of their income on housing as “cost-burdened,” underscoring the financial
vulnerability many older adults face even when they own their homes.

Where Care Recipient Lives

Where care recipients live
Insights on Where Care Recipients Live

For many families, a home or piece of land represents far more than shelter—it is a
source of financial security, stability, and generational wealth. Yet without proper estate
planning, that wealth can quickly be eroded or lost. One of the most common risks is heirs’
property, which arises when real estate is passed down without a clear legal transfer of title. If
someone dies without a will or estate plan, the estate is distributed under state intestacy laws,
often leaving ownership “tangled.” In these cases, without a clear title, families and individuals
may be unable to secure financing, secure a mortgage, qualify for disaster assistance, or preserve
the home for future generations.

Why Tangled Titles Happen and Why They Put Families at Risk

A tangled title occurs when ownership of a home or land is unclear. This can happen when:

  • A parent or loved one passes away without a will
  • The deed was never updated, or
  • Probate was never completed

The financial risks for families are serious:

  • Multiple heirs may face disputes and challenges in managing the property.
  • Families may be blocked from refinancing, getting home repair loans, or claiming tax
    credits.
  • Disaster relief can be denied or delayed because the Federal Emergency Management
    Administration (FEMA) requires proof of clear ownership; proof of ownership for
    heir’s property.
  • Properties may even be lost in tax sales.

What Research Shows: Who is Most at Risk

A new Urban Institute 2025 report found that these problems are most acute for older,
vulnerable adults; communities of color; and families with limited digital access. 42.4% of senior
homeowners aged 50 or older do not have a will or trust. Furthermore, only an estimated one in
four Hispanic homeowners and one in three Black homeowners have an estate plan in place. The
lack of a will or estate plan is one reason for tangled titles. For these households, where a home
is often the most valuable asset, tangled title and heirs’ property are a threat to wealth
preservation. The research study found that “creating a will or estate plan is one of the most
effective ways to protect against these risks.”

Free Help for Maryland Families
For low-income families, access to legal aid can mean the difference between losing a
home and securing it for future generations. The Maryland Volunteer Lawyers Service (MVLS)
is a leading model, offering free support to eligible families across the state, from Baltimore City
to rural farmland on the Eastern Shore. Their programs include:

  • Tangled Title Expansion Project – Corrects deeds, administers estates, and secures
  • clear ownership.
  • Estate Planning Clinics & Seminars – Guides seniors and caregivers in creating wills,
  • powers of attorney, and advance directives before incapacity.
  • Heirs’ Property & Tax Sale Protections – Prevents the loss of homes or land through tax sales while preserving intergenerational ownership.

MVLS attorneys and trained volunteers walk families through probate, resolve deed
issues, and help caregivers take proactive steps.

Legal Reforms: Progress Made and Gaps That Remain
In 2022, Maryland enacted the “Uniform Partition of Heirs Property Act,” its version of
the Uniform Partition of Heirs Property Act (UPHPA), which protects heirs from speculators and
predatory forced sales and loss of equity by granting cotenant heirs the first opportunity to buy
out other heirs and requiring fair market appraisals.

Maryland law does not yet allow beneficiary deeds—simple documents that would
enable property to transfer directly to heirs outside of probate while preserving flexibility (unlike
a life estate deed), reducing cost and complexity, and preserving step-up in basis. For caregivers,
expanding this option would ease stress, reduce costs, and help maintain family homes and land
for future generations. Beneficiary deeds are already available in more than half of U.S. states,
including Virginia and the District of Columbia, offering a proven, low-cost tool to prevent
tangled titles and heirs' property.

Key Insight for Family Caregivers
Estate planning begins with a critical first step: compiling a complete inventory of your
loved one’s real and personal property and other assets. Some assets are classified as probate
property and are distributed through a will—or by state intestacy law if no will exists—while
others are non-probate assets that transfer directly to beneficiaries or co-owners through
designations or trusts.

If your loved one receives Medicaid for nursing or home care, the state may later seek
repayment from the estate. In some cases, this may include placing a lien on the home, with
protections in place for certain surviving family members.

With professional guidance from attorneys, financial planners, and nonprofit providers,
caregivers can navigate these complexities, reduce stress, and help preserve generational wealth.

Workplace Benefits That Can Lighten the Load
Some caregivers don’t realize their workplace benefits may include estate planning and
caregiving resources:

  • Employee Assistance Programs (EAPs) often include free or discounted legal consultations, wills, durable powers of attorney, advance directives, or answering estate questions.
  • Group legal plans may cover probate guidance and deed issues.

A quick call to your human resources department can help confirm whether these benefits
are available to you and whether they extend to loved ones in your care.

How to Prevent Family Conflict Before It Starts
Families often postpone estate planning for many reasons—believing their estate falls
below the federal exemption limit, assuming there will be time later, avoiding difficult end-of-
life conversations, or relying too heavily on verbal agreements. Yet without clear legal
documents, families face a higher risk of misunderstandings and costly disputes, particularly in
blended families. Estate planning is essential not only to preserve wealth but also to ensure
proper care for loved ones who may face advanced care, disability, or special needs.

By documenting decisions and discussing them openly, caregivers can help prevent
family conflicts, preserve wealth, and protect relationships.

Three Things You Can Do Today

  1. Start the conversation and gather documents. Make a list of your loved one’s
    assets and note how each is titled and who is listed as a beneficiary. Collect all your
    loved one’s estate planning documents, including the will and trust.
  2. Use trusted legal resources. Explore your workplace employee benefits, meet with a
    local estate planning or elder law attorney, or attend free estate planning clinics such
    as those offered by MVLS. Only an attorney should draft a will or trust.
  3. Work with a Certified Financial Planner™ professional. A planner can provide
    you with the clarity, structure, and support needed to turn those goals into a lasting
    strategy for protecting and preserving generational housing wealth.

Protecting Legacy, Not Creating Liability
For caregivers, preserving housing wealth is not only about money; it’s about keeping
families rooted, maintaining stability, and honoring the sacrifices of earlier generations. Without
planning, even well-intentioned families can lose property due to preventable obstacles, such as
tangled titles, overlooked deeds, or costly legal disputes.

The good news is that resources already exist. Community legal aid, supportive workplace
benefits, and trusted advisors can help caregivers put protective measures in place. Maryland’s
recent reforms show progress, but broader access to tools like beneficiary deeds would make
safeguarding property even more attainable.

As the Baby Boomer generation enters advanced age, the window for proactive planning
is narrowing. Taking steps now—before illness or incapacity—ensures that homes and land
remain sources of security for loved ones, rather than sources of stress.

For a practical starting point, explore our caregiver resource: Family Financial
Caregiver Checklist: Know Every Asset Your Loved One Owns.
Family Financial Caregiver
Checklist – Know Every Asset Your Loved One Owns

 

About Parker Financial, LLC
Parker Financial, LLC is an independent, fee-only Registered Investment Adviser (RIA) in the
state of Maryland. Founded by Christine M. Parker, CFP®, APMA™, CRPC™, CSRIC®, a Wealth Advisor for Family Financial Caregivers.

This article is meant for educational and informational purposes only and should not be
considered legal, tax, or personalized financial advice. Please consult your professional advisers
before making any financial decisions.

Millennials in the Sandwich Generation: Balancing Care, Money, and Giving Back

 

Millennials, born between 1981 and 1996, are entering a unique and challenging phase of life. Many are part of the Sandwich Generation, raising children while also caring for older parents, often navigating the complexities of cognitive decline and dementia. This dual responsibility can be financially and emotionally overwhelming. However, by aligning money behaviors with deeply held values, millennials can reduce stress, strengthen their families, and make a meaningful impact in their communities.

Navigating the Financial Strain of the Sandwich Generation

According to Pew Research Center, nearly 12% of parents in their 30s and 40s are financially supporting both their children and older parents. This growing demographic—now numbering over 11 million caregivers in the United States—faces significant financial pressures, including career sacrifices, rising healthcare costs, and complex caregiving logistics.

Millennials have grown up witnessing economic uncertainty, from student loan debt to an underfunded Social Security system. Historically, charitable giving tends to decline during tough economic times; however, this generation remains committed to social responsibility and philanthropy. The key to managing financial stress while maintaining these values lies in ensuring financial decisions align with their core beliefs.

Aligning Financial Decisions with Values

Psychological research indicates that when behaviors align with personal values, individuals tend to experience lower stress and greater overall well-being. For Sandwich Generation caregivers, this means making intentional financial choices that reflect their priorities—security, responsibility, and generosity.

For instance, a millennial caregiver who values financial security might prioritize building an emergency fund before making large discretionary purchases. Those who prioritize generosity may dedicate a portion of their budget to charitable giving, even in difficult financial times. What matters most isn’t the amount given; it’s the consistency of support, whether through monetary contributions, time, or advocacy.

The Ripple Effect of Purpose-Driven Giving

When financial decisions align with values, the impact extends beyond immediate family needs. Millennials are deeply engaged in philanthropy, supporting social causes through both donations and volunteer work. A 2021 study by Fidelity Charitable found that 74% of millennial donors consider giving to charity as essential to their identity. The 2025 Lilly Family School of Philanthropy report highlights that while younger generations give in similar ways to older donors, they also leverage technology to enhance their impact—utilizing digital tools for advocacy, online donations, and collaboration with nonprofits.

This commitment to giving is crucial for organizations like Sagepoint Senior Living Services Foundation, which provides vital resources for seniors with cognitive decline. When caregivers witness their donations and volunteer efforts making a tangible difference, they experience greater fulfillment and a sense of purpose amid their responsibilities.

Strategies for Financial Stability While Giving Back

Balancing caregiving responsibilities and financial security doesn’t mean sacrificing generosity. Millennials in the Sandwich Generation can adopt practical strategies to maintain financial stability while continuing to support causes they care about:

  1. Set Clear Priorities – Identify core financial values and make decisions that support them. A solid financial foundation ensures sustainable generosity.
  2. Budget for Giving – Even small, consistent contributions can have a lasting impact without placing a financial strain.
  3. Leverage Employer Matching Programs – Many companies offer donation-matching programs, effectively doubling the impact of your contributions.
  4. Give Beyond Money – Volunteering time, skills, or advocacy can be just as valuable as monetary donations.
  5. Teach Financial Values to the Next Generation – Modeling responsible financial habits and philanthropy helps children develop strong financial principles.

Finding Balance Through Purposeful Giving

Being part of the Sandwich Generation is a complex and demanding role, but maintaining financial alignment with personal values can alleviate stress and provide a sense of control. By making intentional financial choices, caregivers not only support their families but also contribute to causes that resonate deeply, fostering a legacy of generosity.

Sagepoint Senior Living Services Foundation deeply appreciates the support of donors who balance caregiving challenges with a desire to make a meaningful impact. Every act of giving—whether financial, time-based, or advocacy-driven—helps build a stronger, more compassionate community for our aging loved ones.

Written by:
Christine Parker, CFP®, APMA™, CRPC™, CSRIC®
Founder, Parker Financial, LLC
Financial Advisor for Family Caregivers
Former Sagepoint Senior Services Foundation Board Member

The information provided is for general educational purposes and does not constitute legal, financial, or tax advice. Please consult a qualified professional for personalized recommendations. Parker Financial, LLC is a Registered Investment Adviser in Maryland. 9300 Endowment Place, La Plata, MD 20646. www.pfadvisers.com

© 2025 Proprietary. All Rights Reserved.
Date: 4/1/2025

Gifting Appreciated Securities: A Tax-Efficient Strategy to Diversify Concentrated Stock Positions

 

Written by: Christine Parker, CFP®, APMA™, CRPC™, CSRIC®

Investors who hold significant positions in individual stocks face a unique challenge: while the growth potential is considerable, the risks associated with concentrated stock positions can be substantial. One way to address this challenge while supporting meaningful causes is through the tax-efficient strategy of gifting appreciated securities. This approach can help reduce concentrated risk, diversify a portfolio, and offer substantial tax benefits. Here’s how gifting appreciated securities works and how it can align with your philanthropic goals.

Understanding the Risks of Concentrated Stock Positions

What is a Concentrated Stock Position?

A concentrated stock position arises when a large portion of an investor’s portfolio is tied to a single stock. This could happen due to equity compensation, long-term investments in a successful company, or inheritance. While the growth potential is enticing, it exposes investors to significant risk.
Key Risks of Concentration:

  • Market Volatility: A downturn in a company’s stock price can significantly reduce an investor’s total wealth.
  • Sector-Specific Risk: Heavy concentration in one industry increases exposure to risks specific to that sector, such as regulatory changes or technological disruptions.
  • Limited Liquidity: Selling appreciated stock can trigger high capital gains taxes, which may deter investors from diversifying.

Gifting Appreciated Securities: A Dual Benefit Strategy

Gifting appreciated securities offers a twofold advantage: it allows diversification while supporting charitable causes. This strategy helps reduce concentrated risk in your portfolio while positively impacting the community.

Tax Benefits of Donating Appreciated Securities:
  1. Avoid Capital Gains Taxes: Donating appreciated stock directly to a qualified charity avoids realizing the long-term capital gains on that stock, which can result in significant tax savings.
  2. Charitable Deduction: If you itemize deductions, you may be able to deduct the stock’s fair market value, subject to IRS limits. This reduces your taxable income and provides a financial benefit.

Philanthropy and Impact:

Gifting appreciated securities lets you align your financial resources with personal values or corporate social responsibility goals. It also enables you to make a lasting contribution to causes that matter to you. Research has shown donors are likelier to contribute to causes that resonate personally, perceiving a more substantial alignment between their values and the organization’s mission (Halvorsen, Lynch, Brown, & McTernan, 2024).

Estate and Legacy Planning:

Incorporating stock donations into your estate plan can help reduce the size of your taxable estate, offering tax savings while leaving a generous legacy.

Eligible Charitable Giving Vehicles

There are several ways to gift appreciated securities to qualified organizations, each with advantages.

Direct Gifting to Qualified Charities:

Donating stock directly to a 501(c)(3) organization ensures that the charity benefits immediately. Before donating, confirm the nonprofit status using platforms like Charity Navigator, GuideStar, or the IRS Tax Exempt Organization Search to verify its credibility.

Donor-Advised Funds (DAFs):

DAFs offer flexibility and control over charitable giving. By transferring appreciated securities to a DAF, you avoid paying long-term capital gains, receive an immediate tax deduction, and can direct grants to multiple charities over time.

Charitable Remainder Trusts (CRTs):

CRTs combine philanthropy with financial benefits. You can receive income from the trust for a specified period while reducing your concentrated stock position. Additionally, CRTs provide tax savings through charitable deductions and deferring capital gains taxes on sales within the trust.

Strategic Considerations for Stock Donations

Timing for Maximum Benefit:

Consider donating stocks with the highest unrealized gains to maximize tax savings and effectively diversify your portfolio. This approach ensures that you minimize taxable income while achieving your diversification goals.

Integration with Overall Financial Plan:

Stock donation strategies should seamlessly fit into your broader financial and philanthropic strategy. Whether planning for retirement, building your legacy, or supporting charitable causes, ensure that your donations complement your long-term needs and objectives.

Collaboration with Advisors:

Working with financial, tax, and legal advisors is crucial to optimizing the benefits of gifting appreciated securities. They can help ensure compliance, maximize tax advantages, and integrate your gifting strategy with your financial plan.

Steps to Execute a Stock-Gifting Strategy
  1. Evaluate Your Stock Holdings:Review your portfolio to identify over-concentrated positions. Assess the tax implications of gifting appreciated securities.
  2. Choose Charitable Organizations or Vehicles: Select charities or charitable vehicles (like DAFs or CRTs) that align with your values and goals.
  3. Collaborate with Advisors: Work with your financial advisor to plan and execute the transfer of appreciated stock to the chosen charitable entities.
  4. Document the Gift: Ensure all stock transfers are documented adequately for tax reporting and compliance purposes.

Conclusion

Gifting appreciated securities is a smart strategy for managing concentrated stock risk,
achieving tax efficiency, and supporting causes that align with your values. It’s an
effective way to diversify your portfolio while making a meaningful impact on your
community. As always, consult with your financial, tax, and legal advisors to ensure your
charitable giving strategy is optimized for your financial goals and the charitable
missions you support.

References:

Halvorsen, C. J., Lynch, J., Brown, S., & McTernan, M. L. (2024). Approaches to Charitable Giving and Perceptions of Organizational Effectiveness Among Midlevel Donors. Nonprofit and Voluntary Sector Quarterly, 53(4), 926-947. Retrieved on January 23, 2025, from https://doi.org/10.1177/08997640231196888

Christine Parker, CFP®, APMA™, CRPC™, CSRIC® is the founder of Parker Financial, LLC. The firm provides Guardian Wealth Care services to help clients craft financial plans for a balanced life: career, care, and well-being. Christine formerly served on the Sagepoint Senior Services Foundation Board. Please note that not all investments or strategies are suitable for every individual. The information provided here is for general educational purposes only and does not constitute legal, financial, or tax advice. Please consult a qualified professional for personalized advice tailored to your specific circumstances. Parker Financial, LLC is a Maryland registered investment adviser
(RIA). 9300 Endowment Place, La Plata, MD 20646. www.pfadvisers.com ©2025 Proprietary. All Rights Reserved. Date: 1/23/2025

Navigating the Financial Impact of Caregiving: Understanding Sequence of Savings Risk

Written by: Christine Parker, CFP®, APMA®, CSRIC®

As a working family caregiver, balancing the demands of caring for an older parent or loved one with managing your career and financial security can be overwhelming. Many caregivers reduce their work hours or leave their careers early to provide care, significantly impacting their retirement savings and long-term economic health. One of the critical financial challenges caregivers face is the sequence of savings risk.

What is the Sequence of Savings Risk?  

The sequence of savings risk refers to the financial challenges caregivers encounter when they are forced to reduce or pause retirement savings due to caregiving responsibilities. This can occur in several ways:  

  1. Reduced Contributions to Retirement Plans: When you cut back on work hours or leave the workforce, your retirement accounts, such as 401(k)s, 403(b)s, or IRAs, decrease, limiting your future savings.  
  2. Fewer Employer Matching Contributions: By reducing work hours or stepping away from work, you may miss out on employer matching contributions, which can substantially impact the growth of your retirement savings over time.  
  3. Lower Social Security Benefits: Social Security benefits are based on your top 35 years of earnings. Work fewer years or at a reduced income. Your Social Security benefits in retirement may be lower than if you had continued working full-time in your higher earning years.
  4. Lower Pension Benefits: Defined benefit pensions are typically calculated based on years of service and average salary, so reduced earnings or time worked can decrease the total pension amount. 

Together, these factors create a savings gap that makes it more challenging to accumulate enough wealth to support a secure and comfortable retirement because Americans live longer and healthier lives.

The Impact of Caregiving on Financial Security  

Research shows that many workers, including executives and professionals, leave to care for aging family members due to a lack of workplace flexibility and support services. This issue affects individuals across all income levels and career stages. The decision to leave the workforce for caregiving can lead to reduced income, stalled career advancement, and a growing wealth gap as retirement approaches.  

Mitigating Sequence of Savings Risk  

To protect your financial future while taking care of yourself, consider the following steps to minimize the sequence of savings risk:  

  1. Develop a Flexible Financial Plan: Create a plan that considers caregiving responsibilities and potential reductions in income while staying focused on your long-term financial goals. Work with a CFP® professional specializing in planning for individuals managing caregiving duties and who can help you navigate these complexities. To find a qualified CFP® professional, visit the CFP® Let’s Make a Plan website. [CFP® Let’s Make a Plan Website] (https://www.letsmakeaplan.org/find-a-cfp-professional).
  2. Maximize Contributions When Possible: If you are still employed, contribute as much as possible to your retirement plan, mainly if your employer offers a matching program. This will help counterbalance future savings shortfalls.  
  3. Leverage Catch-Up Contributions: If you are over 50, take advantage of additional catch-up contributions to your retirement accounts to close the savings gaps created by caregiving-related work disruptions.  
  4. Build an Emergency Fund: A substantial emergency fund can prevent the need to withdraw from retirement savings during unexpected caregiving out-of-pocket expenses, preserving your long-term investments.  
  5. Consider Care Options: Professional care services like those offered by Sagepoint Senior Services can provide respite and ease some of caregiving’s emotional and financial burdens. Sagepoint offers services like adult day care, assisted living, and memory care, allowing you to continue working and contributing to your retirement savings while ensuring your loved one receives excellent care.  Explore employee benefits programs and public and private support services for caregivers.

Maryland’s Family and Medical Leave Insurance (FAMLI) Program  

In 2025, Maryland will launch the Family and Medical Leave Insurance (FAMLI) program, providing eligible workers with up to 12 weeks of paid leave to care for themselves or a family member with a “serious health condition.” This includes caring for parents, stepparents, spouses, domestic partners, grandparents, and other family members. FAMLI offers partial wage replacement of up to $1,000, allowing caregivers to take time off without losing their income or sacrificing their employment status.  

Starting in July 2025, employees will notice payroll deductions for FAMLI, and benefits will be available the following year. This program is a financial lifeline for caregivers, offering wage support that helps balance work, caregiving, and long-term financial goals.  

The FAMLI program will also help alleviate the sequence of savings risk by allowing caregivers to maintain income and continue making retirement contributions while fulfilling caregiving responsibilities. For more information, visit [Maryland’s Paid Leave website](https://paidleave.maryland.gov/workers/Pages/home.aspx).  

Guiding an Improved Dementia Experience (GUIDE) Model

The Centers for Medicare & Medicaid Services launched the GUIDE Model this year. In limited areas, this new resource supports unpaid caregivers in navigating the complexities of Medicare services for older adults diagnosed with dementia. 

Understanding Medicare coverage is crucial when managing the healthcare needs of a loved one with dementia, as it can help caregivers access essential services like hospital care, home health care, memory care, skilled nursing facilities, and hospice care. The model program provides detailed guidance on Medicare benefits, enrollment periods, and eligibility, making identifying coverage for cognitive assessments, memory care, and long-term care needs easier. 

For more information and to explore the range of services available, visit the official Medicare website at [Medicare.gov](https://www.cms.gov/priorities/innovation/innovation-models/guide).

Maryland’s Family Caregiver Support Program

The Maryland Department of Aging administers the Maryland Family Caregiver Support program. It is a resource for family caregivers to care for older loved ones at home for as long as possible.  Aging is a dynamic process that leads to new aspirations, abilities, and knowledge we can share with our communities.  For more information, visit the [Maryland Department of Aging website] (https://aging.maryland.gov/Pages/national-family-caregiver-support.aspx).

The Role of Sagepoint Senior Services

Nonprofit organizations like Sagepoint Senior Services are crucial in supporting family caregivers in rural communities. Sagepoint offers professional care services, including part-time adult day care, full-time assisted living, and memory care. These services provide high-quality care for aging loved ones while enabling caregivers to maintain financial security by continuing to work.  

By utilizing services like those offered by Sagepoint, caregivers can reduce the stress of caregiving while still contributing to their retirement savings and safeguarding their future financial well-being.

Conclusion: Balancing Caregiving and Retirement  

Caring for an aging loved one is a rewarding but challenging responsibility, often placing significant financial strain on families. Addressing the sequence of savings risks associated with caregiving is crucial to safeguarding your long-term financial health and wellness. Developing a comprehensive financial plan, leveraging government support resources, and exploring community services like those offered by Sagepoint can help mitigate these economic risks. Finding this balance allows you to fulfill your caregiving responsibilities without compromising your future financial security.

###

Christine Parker, CFP®, APMA®, CSRIC®, is the sole practitioner and founder of Parker Financial, LLC, an independent fee-only Registered Investment Adviser based in Maryland. At Parker Financial, LLC, our Guardian Wealth Care services are designed to support high-earning professionals facing the physical, emotional, and financial complexities of family caregiving for older parents. 

Christine holds multiple professional designations, including CERTIFIED FINANCIAL PLANNER™ (CFP®), Accredited Portfolio Management Advisor℠ (APMA®), and Chartered SRI Counselor℠ (CSRIC®). She is pursuing a Master of Science in Personal Financial Planning at the College for Financial Planning and a Bachelor of Science in Business Administration with a Minor in Finance from the University of Maryland University College. 

In addition to her professional work, Christine has held numerous leadership roles in community organizations, including past president of the Financial Planning Association of the National Capital Area and past chair of the Sagepoint Senior Services Foundation. She is also actively involved in several other nonprofit boards and committees. Please visit Parker Financial, LLC website for more information.

Nurturing a Healthy Mind: Essential Tips for Strong Brain Health

Embrace These Seven Habits to Enhance Your Cognitive Well-Being

Maintaining strong brain health is essential for leading a fulfilling and vibrant life, especially as we age. At Sagepoint Senior Living Services, we are dedicated to promoting wellness and enriching the lives of our residents. By adopting these seven key habits, you can take proactive steps toward nurturing your cognitive well-being.

  1. Quit Smoking: Smoking has been shown to have detrimental effects on brain health. Quitting smoking not only improves lung and heart health but also enhances cognitive function. Nicotine and other harmful chemicals in cigarettes can damage brain cells and blood vessels, leading to a higher risk of cognitive decline. 
  2. Maintain Healthy Blood Pressure Levels: High blood pressure can negatively impact brain health by increasing the risk of stroke and cognitive impairment. Regular monitoring and management of blood pressure through a balanced diet, regular exercise and prescribed medications are crucial. 
  3. Be Physically Active: Physical activity is not only beneficial for the body but also for the mind. Regular exercise has been linked to improved memory, increased brain volume and reduced risk of cognitive decline. Aim for at least 150 minutes of moderate-intensity exercise each week, such as walking, swimming or dancing. 
  4. Maintain a Healthy Weight: Maintaining a healthy weight is crucial for overall well-being, including brain health. Obesity and excess weight are associated with an increased risk of cognitive decline and dementia. A balanced diet rich in fruits, vegetables, whole grains, lean proteins and healthy fats can help you achieve and maintain a healthy weight. Incorporating portion control and mindful eating practices can further support your weight management goals.
  5. Get Enough Sleep: Quality sleep is essential for brain health and cognitive function. During sleep, the brain undergoes processes that consolidate memories and clear out toxins. Aim for 7-9 hours of sleep each night to allow your brain to rest and rejuvenate. Establish a consistent sleep routine by going to bed and waking up at the same time each day and create a relaxing bedtime environment to promote restful sleep.
  6. Stay Engaged in Your Community: Social engagement and meaningful connections play a significant role in maintaining brain health. Staying active in your community through volunteer work, social clubs or group activities can help keep your mind sharp and reduce the risk of cognitive decline. Engaging in conversations, learning new skills and participating in community events stimulate brain function and provide a sense of purpose and fulfillment.
  7. Manage Blood Sugar Levels: High blood sugar levels can damage blood vessels and nerves, affecting brain health and increasing the risk of cognitive decline. Regularly monitor your blood sugar levels, especially if you have diabetes. 

Maintaining strong brain health is a cornerstone of a fulfilling and independent life. By incorporating these seven habits into your daily routine, you can take proactive steps toward preserving your cognitive well-being and enjoying a vibrant, engaged lifestyle.

 

Navigating the Challenges of Aging: Tips for Maintaining Independence in Seniors with Dementia 

 

As our loved ones age, the threat of diseases like Alzheimer’s and other forms of dementia looms large. With over 6 million adults affected by Alzheimer’s disease in the U.S., it’s a concern that many families face. While these conditions bring cognitive and functional challenges, there are ways to support seniors in maintaining their independence and dignity. 

Early Detection and Proactive Care 

Early detection of cognitive decline is crucial. Regular check-ups and discussions about memory concerns with healthcare providers can lead to early diagnosis and better care planning. Utilizing services like the Medical Annual Wellness Visit can help in assessing cognitive impairment and managing other chronic conditions. 

Embracing a Healthy Lifestyle 

Research shows that physical exercise, not smoking and managing other cardiovascular risks can lower the likelihood of cognitive decline. Encouraging seniors to stay active, eat a balanced diet and engage in mental exercises can significantly contribute to maintaining their cognitive health. 

Creating a Safe and Supportive Environment 

Adapting the living environment to suit the needs of seniors with cognitive challenges is vital. This includes safety modifications in the home to prevent falls, using reminders and labels for orientation and simplifying daily tasks to enhance their ability to perform them independently. 

Strengthening Social Connections 

Social engagement is an integral part of healthy aging. Encourage seniors to participate in community activities, join clubs or groups and maintain regular contact with family and friends. This social interaction can help in slowing cognitive decline and improving overall well-being. 

Supporting Caregivers

Caregivers play a critical role in the lives of seniors with dementia. Programs like the Resources for Enhancing Alzheimer’s Caregiver Health (REACH) provide valuable support and education for caregivers. Caregiver health directly impacts the quality of care they can provide, making their well-being a priority. 

While the journey with Alzheimer’s disease and other forms of dementia is challenging, maintaining a senior’s independence as much as possible is crucial for their dignity and quality of life. By adopting these strategies, families and caregivers can help their loved ones navigate this path with grace and support.

Mind Matter: Daily Habits for Lowering Risk of Dementia

While there is a lot that we still don’t know about dementia, it’s important to arm ourselves with the information that we do know about this disease. For our seniors and aging relatives, we want to recognize and encourage behaviors that will not only create a healthier lifestyle but also lower the risk of developing dementia.

What is dementia?
Dementia is a brain disease that affects a person’s memory or thought processes. Additionally, dementia can also affect a person’s personality, communication abilities and other mental functions of daily living. The most common form of dementia is Alzheimer’s disease.

Who is at risk?
Anyone can develop dementia, but some people may be at a higher risk than others. For example, those who are 65 years or older, certain minority groups, including Hispanic or African American adults and women tend to be at a higher risk.

What can I do to lower my risk of dementia?
There are many daily factors to focus on that can help lower your risk of dementia, including:

  • Managing high blood pressure – Talk to your doctor about ways to manage high blood pressure through medication and lifestyle behaviors.
  • Not smoking – For smokers, counseling and medication and help with quitting the habit for good.
  • Being physically active – Just 30 minutes of physical activity a day can have a big impact on overall well-being.
  • Preventing diabetes and heart disease – Talk to your doctor about your family history and risk factors for these conditions and ways to treat them with medication and lifestyle changes.

Take charge of your brain health today through small, healthy lifestyle changes. Not only can these changes make a big difference in your daily life, but they can also lower the risk of dementia, Alzheimer’s and related conditions. You can also lower your risk for other chronic conditions like diabetes, heart disease and high blood pressure.

“Reducing Risk of Alzheimer’s Disease.” Centers for Disease Control and Prevention, Centers for Disease Control and Prevention, 13 Sept. 2022, www.cdc.gov/aging/publications/features/reducing-risk-of-alzheimers-disease/index.htm.

Qualified Charitable Distributions for Your Philanthropic Goals


It’s the time of year for giving and with our end-of-year campaign, Caring Hearts, we have the perfect opportunity for you to contribute to a cause that supports our seniors. With your contributions, we’ll raise funds to help Sagepoint Senior Living Services grow awareness of dementia and the effects it has on the person, the family and the community as a whole. To achieve this goals, we will expand community outreach efforts through caregiver support and training programs for those who care for loved ones with dementia and other long-term cognitive illnesses.

Whether you have a loved one who lives with dementia or you know someone whose life has been touched by this illness, there are many reasons to support this worthy cause. But, did you know that there are tax incentives that make charitable giving easier than ever?

With tax-free charitable giving from an IRA, seniors age 70½ or older can make tax-free charitable donations from IRAs that count toward satisfying required minimum distribution and reduce taxable income. Read more about Qualified Charitable Distribution below as you consider your end-of-year donations.

What is a Qualified Charitable Distribution (QCD)?
A QCD is a tax-free charitable distribution of funds directly from the IRA trustee (custodian) of an eligible IRA account payable to a qualified charitable organization that can receive a tax-deductible contribution. A tax-free QCD is defined in IRS Publication 17 – Your Federal Income Tax for Individuals on page 126.

Normal distribution from an IRA of deductible contributions and earning is included in income and taxed as ordinary income. The tax-free QCD removes the distribution from taxable income. QCDs are recorded on Form 1040, U.S. Individual Tax Return 2018 – the sum total QCD distribution is included on line 4 a – IRA distribution, and the abbreviation ‘QCD’ is written on line 4 b – taxable amount.

Who is Eligible to Make a tax-free QCD?
IRA account owners and beneficiaries age 70 ½ or older on the date the tax-free QCD is made to one or more qualified charitable organizations.
Taxpayers who now claim the standard deduction can still make tax-free QCDs.

What type of IRA accounts are eligible for a QCD?
Traditional IRA, Rollover IRA, Inherited IRA accounts and non-active SEP and Simple IRA accounts are eligible for a tax free QCD. Active SEP or Simple IRA account currently receiving employee or employer contributions is not eligible.

Roth IRA accounts are eligible but a tax-free QCD will not lower income tax because distributions from Roth IRAs are already tax-free and not included in income.

What type of retirement savings accounts are ineligible for a QCD?
Employer-sponsored retirement plans, such as 401(k)s, 403(b)s and 457(b)s are not eligible for tax-free QCD. A normal or tax-free QCD distribution to satisfy the IRA RMD requirement in a given tax year cannot count toward satisfying the RMD requirement for employer-sponsored requirement plans.

However, an employer-sponsored plan account owner may consider a direct transfer rollover to an IRA Rollover account that would then be eligible for tax-free QCDs. RMD calculations for tax-deferred IRAs and employer-sponsored retirement plans for the current tax year will be based upon the fair market value of the account at the close of business on December 31 of the prior year, factored by your age and life expectancy. Therefore, before implementing a rollover strategy the time and suitability should be taken into consideration.

What is the tax-free QCD distribution limit?
Seniors age 70 ½ or older may make tax-free charitable donations and exclude up to $100,000 from gross income per tax year by making tax-free QCD’s directly from an IRA. There is no carry-over from year to year. Your spouse may also make a tax-free charitable donation and exclude up to $100,000 from gross income per tax year for a combined total of $200,000.

Summary
Whether you donate to our end-of-year Caring Hearts campaign or another worthwhile cause, tax-free QCDs may be a great way to fulfill your philanthropic goals and make a lasting charitable impact in your community. Always consult your professional tax accountant, estate planning attorney and/or investment advisor before implementing any strategy.

Older Victims Have Been Losing More and More Money to Elder Fraud

Christine Parker, CFP®, Chartered SRI Counselor sm, is Managing Director of Parker Financial, LLC; an Independent Fee Only Investment Advisor in the state of Maryland.  Christine currently serves as a member of the Sagepoint Senior Services Foundation Board of Officers and Directors. 

It is very possible for seniors aged 60 and older to experience irreversible economic loss and great psychological distress as a result of elder abuse and elder fraud.  

The term elder abuse refers to the mistreatment of seniors who are vulnerable, especially those who are physically and mentally handicapped, including abuse, neglect, or financial abuse, often perpetrated by family members, and other trusted persons.  Elder fraud, on the other hand, is generally committed by strangers – criminals who use various schemes to prey on the elderly.

Fraud victimization among older adults is influenced by these 7 major factors

  • Cognitive decline
  • Heighten emotions in decision making
  • Overly trusting nature
  • Psychological vulnerability
  • Social isolation
  • Risk-taking and
  • Lack of knowledge and information regarding fraud 

Researchers at the Stanford Center on Longevity working in collaboration with researchers from the FINRA Investor Education Foundation and the AARP Fraud Watch Network “found that inducing emotions such as excitement and anger in older adults increased their intention to buy falsely advertised items.”

The Office of Victims of Crimes at the Department of Justice seeks to raise public awareness of the National Elder Fraud Hotline and encourage victims of fraud to reach out and report.

There are different types of fraud schemes that affect different generations.  Elderly adults and their loved ones and caregivers need information about perpetrators of elder fraud schemes and knowledge about how to prevent it and report it.  The main goal of elder fraud is to exploit older adults financially.   

Reported Incidents of Elder Fraud and Scams

Using the FTC’s Consumer Sentinel Network database, which tracks reports of fraud, schemes, financial losses, contact methods, payment methods, and other pertinent information, we can track elder fraud trends. We can also know schemes used to perpetrate elder fraud.

Elder fraud is a serious and growing threat. According to the FTC, total reported losses have been increasing each year since 2020 as shown in the chart below:

 

 

For older adults aged 60-69, 70-79 and 80 and older, the median financial loss reported so far in 2023 is $500, $800 and $1,393.     

In this time period, older adults experienced the following fraudulent schemes most frequently: business imposters, government imposters, tech support scams, online shopping, and prizes, sweepstakes, and lotteries. Online shopping, tech support scams, and sweepstakes and lotteries scams reported had higher occurrences of financial loss.

The most commonly reported payment method used by older adults who were scammed is the credit card, followed by debit cards, gift cards, reloadable cards, payments apps, bank transfers, crypto-currencies, wire transfers, and money orders. Scammers contact older adults using social media (Facebook, Instagram, etc.), websites or apps, phone calls, online ads or pop-ups, email, text, email and mail.


Investment Scams


According to FTC data, older seniors lost more money to investment schemes than to any other category in 2022 and 2023.  From $1.8 billion in 2021, investment scam losses for all consumers doubled to $3.8 billion in 2022. For seniors aged 60-69, 70-79, and 80 and over, the median financial loss reported so far in 2023 is $12,841, $13,100, and $11,100, respectively. 

Protecting financial accounts    

In order to help protect your assets, banks, credit unions, and brokerage firms encourage you to designate a “Trusted Contact.”  If the institution suspects financial exploitation or has difficulty contacting the owner, they can reach out to this person in an emergency situation to protect your assets.

Consider this and other security features offered by your financial institutions to include: reset passwords, enroll in advanced authentication (set up two-factor authentication,) and enroll in alert notification for any transactions as soon as they occur (set up security alerts). 

Resource

In their website, www.aging.maryland.gov, the Maryland Department of Aging provides information about elder scams and fraud, as well as how to report it.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice.

Sage Advice Community Conversation Series Begins in September

There are no easy answers when it comes to a loved one suffering from dementia. But, there are resources and tools to help you better understand this disease and feel more prepared when caring for someone with dementia.

In our newly launched Sage Advice Community Conversation Series, we aim to provide information and tools for families of those living with dementia and provide them with a greater understanding of the condition. Each series will address a specific topic related to dementia. At the events, presenters and experts will share resources and advice about a certain aspect of dementia to aid families in caring for their loved ones.

Beginning in September, we invite anyone whose family has been affected by dementia to attend to gain more support and resources. Past participants have shared, “This series fills a need in the community for more information and resources about a disease that requires comprehensive support and affects so many families.” 

On September 11, the topic, “What is Dementia?” will offer a broad overview of the condition, including causes, symptoms, stages, prevention and treatment. Next, on September 25, “A Walk in their Shoes: A Dementia Experience” will offer attendees a glimpse into the daily challenges of living with dementia through participating in hands-on activities. 

Don’t miss this chance to better equip yourself with information and resources as you navigate the challenging  journey of a loved one living with dementia. 

For more information and to get your free ticket visit the links below. Space is limited, please make sure to register to secure your spot. 

Monday, September 11 | 6-7:30pm 

What is Dementia? 

Monday, September 25 | 6-7:30pm 

The Dementia Experience 

Sagepoint Senior Living Services, Adult Day Services Building

10200 La Plata Rd, La Plata, MD 20646