Where to Keep a Will

You've done the right thing and created a will so your family will know how you want your estate handled upon your death.  You've spent hours making sure every detail is covered.  Now, you need to decide where to keep your will so that the executor of your estate can find it easily after your death.  One thing is certain; you do not want to file a will in the same easily accessible drawer or box where you keep old tax returns and bank statements.  When experts at LegalZoom.com tell their clients how to store a will, they want to make certain you understand the advantages and disadvantages of all the various choices.

Where Should I Keep My Will?

Below is a list of places where you might want to keep your will, along with some things to consider before you make a final decision.  All of these choices have advantages.  Once you make a decision, you will want to be sure to let the executor of your state know where to find both your will and other important documents ... such as insurance policies, receipt for a burial plot, list of people you want contacted upon your death, etc. 

Where are some of the places where you can keep your will and other documents are:

Keep Your Will in a Safe Deposit Box at a Bank

A safe deposit box is the first choice for many people.  Your will will be safe from fires, floods, theft and similar catastrophes.  However, depending on the state where you live, your executor may need a court order to get the bank to open the safe deposit box so the executor can look for the will.  If you decide to keep your will in a safe deposit box, let your executor and beneficiaries know where your safe deposit box is located, and give the executor the legal authority to take possession of the will after your death.

Store Your Will with Your Attorney

If you have no plans to change your attorney, you may want to simply leave the original copy of your will at your attorney's office.  They will charge little or nothing to store it for you.  Once again, you need to make sure your executor and heirs know the name of your attorney and how to get in touch with him.

As for other documents you want your executor to have, such as your insurance policies and list of contacts, you can give them copies at the time you name them the executor.  This way, they will quickly be able to have access to all the information they need.

Keep Your Will in Your Home Safe

Another option is to store your will in a heavy, waterproof and fireproof safe in your home.  You want the safe to be heavy enough that you are unlikely to have thieves easily remove the entire safe from your home.  As mentioned before, you do not want to simply file the original will in a home filing cabinet or in a plastic bag in the freezer.  In either case it would be far too easy for it to be stolen or altered without your knowledge.  If you do keep your will in a home safe, be sure your executor knows where the safe is located, and how to get into it.

File a Will with the County Clerk

In some parts of the country, you can file your will with the local county clerk's office.  This is a good solution if you have no plans to move out of the area, and if you make sure everyone knows that they need to contact the county clerk's office when you are gone.

If you make this choice, you will want to be sure to give other documents directly to your executor when you decide who that person will be.  Another option is to put these items in safe storage at your home, and let your executor know where to find them.

Whatever decision you make about where to keep your will, you will want to be certain that both your executor and your heirs have been informed.  They will need the original will in order to efficiently handle the disposition of your estate.  The simpler you can keep things for them, the less confusion there will be after your death.

If you are interested in additional information about funeral planning, financial planning, medical issues that can arise in your later years, where to retire, travel and changing family relationships, use the tabs or pull down menu at the top of the page to find links to hundreds of helpful articles for retirees.

You may also be interested in reading these blog posts:

Healing Relationships with Your Adult Children
How to Cope with Death and Grief
How to Publish Your Autobiography for Free
Life Alert Bracelets for Peace of Mind

You are reading from the blog:  http://www.baby-boomer-retirement.com
Photo of files courtesdy of morguefile.com

How to Prevent Bone Loss from Osteoporosis

One of the biggest dangers to our health that we face as we age is bone loss due to osteoporosis.  This skeletal disease was once referred to as brittle bone disease, which seems like an apt description. 

The mother of a friend of mine in college left a lasting impression on me because of the way her brittle bones virtually destroyed her life.  She was an active woman who had played tennis and gardened when she was younger, until she fell and broke her leg one day.  When she tried to get around with the use of crutches, several of her ribs cracked.  Afterwards, she was confined to a wheelchair.  I never saw this friend, or his mother, after I graduated from college in 1970, so I don't know if she was able to survive this debilitating skeletal disease.  However, I remember how frail she seemed the last time I saw her.  She was only in her 50's!

Modern Treatments for Osteoporosis Help Protect Our Bones

Today, doctors have a much better understanding of osteoporosis and its causes.  Although there are no real cures, they now have better ideas about how to prevent osteoporosis, as well as several methods for treating the condition.  In order to diagnose osteoporosis, your doctor will probably order a bone density test at age 65 if you are a woman, or at age 70 if you are a man.  Left untreated, a person can easily end up with a fracture of the hip or spine.  Spinal fractures frequently lead to premature death; hip fractures often mean the person is no longer able to live independently.  Learning more about prevention and treatment is important to anyone who hopes to have a long, healthy and independent life after retirement.

How to Prevent Osteoporosis

There are four steps we must all take if we plan to prevent bone loss.  According to RealAge.com, these steps are:

* Continue to engage in daily weight-bearing exercises, such as walking, running, dancing and tennis;
* Maintain you core muscle strength, especially your abs, as a way to keep your balance;
* Consume 1,200 mg. of calcium in foods such as milk, yogurt, broccoli, plus a small amount in a supplement;
* Get Vitamin D by spending 20 minutes a day in the sun without sunscreen, consuming foods such as salmon and sardines, or taking a supplement containing 600 - 800 IUs of Vitamin D a day.

Risk Factors for Osteoporosis

There are several risk factors that makes you more likely to develop osteoporosis.  Some of these are:

Low body weight, especially if you weigh less that 127 pounds;
Beginning menopause prior to age 47;
Diabetes;
Certain medications, such as antidepressants, corticosteroids and proton pump inhibitors, anti-seizure medications and some cancer treatments

Osteoporosis Guidelines for Treatment

If your physician determines that you need to be treated for Osteoporosis, they have several options.

First, try lifestyle changes such as the ones listed above.  You can improve your bone density when you make changes early.  If lifestyle changes are not enough, your doctor may recommend one of these types of medications:

Bisphosphonates to slow down how fast the bone is broken down.  These medications can be taken as tablets, a nasal spray or as a quarterly or annual injection.  Tablets can upset your stomach.

Teriparatide increases the bone-building cells by using a hormone to encourage new bone growth.  It is taken as an injection under the skin.  Long-term effects are unknown, so it is usually only used for two years.

Raloxifene is a selective estrogen-receptor modulator which acts like estrogen to slow bone loss.  It can cause hot flashes and an increased risk of stroke.

Estrogen therapy is also used, although it has been associated with an increased risk of breast cancer, heart disease and endometrial cancer.

Obviously, before opting for one of the treatments, your first choice should be lifestyle changes that will prevent the disease.  The earlier you begin these lifestyle changes, the longer you can postpone or prevent developing osteoporosis.

If you are interested in learning more about health issues that can affect you after retirement, financial planning, where to retire, or changing family relationships, use the tabs or pull down menu at the top of the page to find links to hundreds of helpful, informative articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Phone of knee joint courtesy of morguefile.com

Live in Ecuador Comfortably on Social Security

For anyone looking for a beautiful, tranquil and cheap place to retire, Ecuador should be at the top of your list.  According to InternationalLiving.com, Ecuador has been at the top of their Global Retirement Index for the past three years in a row.  Here are some of the reasons why:

Affordable Retirement in Ecuador

Americans moving to another country want to be certain that they can afford to live there comfortably, especially if their primary source of income is their Social Security.  In the colonial city of Cuenca, a furnished two-bedroom apartment rents for about $300 a month, and you can buy a condo for approximately $75,000.  A three-bedroom waterfront condo can be rented for $900 a month, if you take out a multi-year lease which will also keep your expenses steady.  Long term leases are a good alternative to buying.  According to International Living, you can live very well in Ecuador for less than $2500 a month, sometimes much less.

The official currency in Ecuador is the U.S. dollar, which makes it very easy to know exactly what you are spending for everything.  A number of banks will accept direct deposits of your Social Security check and there are ATMs almost everywhere.

Another community that is appealing to relocating Americans is Bahia de Carquez on the coast of Ecuador.  Like Cuenca, it has medical facilities, restaurants and groups of other expatriots who get together regularly.

Some things, such as furniture and American style clothing, can be more expensive in Ecuador.  However, if you buy your clothing during visits back to the United States, and you rent a furnished apartment, these expenses should not be too serious a problem.

You will also find that the grocery stores are well-stocked and carry nearly everything you are accustomed to buying in the United States, although not all brand names will be available.

Medical Care in Ecuador

One concern many Americans have when they move to another country is the medical care.  This past January, a couple I know was traveling in Ecuador, when the wife suddenly collapsed in her hotel room as the result of a brain aneurysm.  This could have been fatal, even if it had happened in her home in the United States.  However, she was taken to a hospital in Ecuador where she had a world-class brain surgeon repair the aneurysm, using the latest techniques.  She is back home in the United States, and her neurologist here has expressed his amazement at the quality of the repair.  If you met her today, you would have no idea that this happened to her only six months ago.

In addition to the modern medical facilities in Ecuador, healthcare is quite affordable.  You can buy inexpensive health insurance there, even if you are over age 65.  A retired couple can get health insurance for less than $100 a month from Nova Ecuador, the national insurer.  In addition, a trip to a doctor only costs about $25 - $35 without insurance.

Beauty and Climate

Of course, no matter how cheap a place is, or how wonderful the medical care is, you would not want to move there if it wasn't a lovely, pleasant place to live.  Ecuador has a diverse terrain, ranging from charming beach towns to spectacular mountain villages.  The weather is very temperate.  In Cuenca, the average daily high temperature is in the 70's, with cool evenings.  Some people consider the Ecuadorian climate to be the best in the world.

New Friendships

According to the U.S. State Department, approximately 1.5 million American retirees are living in other countries.  In addition to the opportunity for fun and adventure in another country, many people enjoy the tight-knit groups of friends they find in many foreign countries.   There are currently approximately 5,000 to 10,000 American expatriots living in Ecuador, with the numbers growing every year.

Use Caution When Moving to a New Country

Just because you are living in another country, you should not drop your natural sense of caution.  Even in Ecuador there are thieves, as well as white collar criminals.  Don't be too trusting until you have had time to get to know what you are doing there.  Learning Spanish will help you speak with the local people, although many do speak English.  Contact a local attorney before you move to Ecuador, in order to begin the process of establishing residency once you are there.

If you are interested in learning more about where to retire in the United States or abroad, financial planning, medical issues and changing family values, use the tabs or pull down menu at the top of the page to find links to hundreds of additional helpful articles.

Some of the other articles that may interest you are:

Retiring in Luxury to Hua Hin, Thailand
Americans Retiring in Panama
Best Places to Retire Outside the US
Cheap Places to Retire (in the US)
The Best Sunny Places to Retire (in the US)
Finding Niche Retirement Communities (in the US)

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo of Ecuadorian Market courtesy of morguefile.com

Sources:

http://articles.chicagotribune.com/2011-10-11/travel/sc-trav-1011-retire-abroad-20111011_1_ecuador-health-care-cuenca

http://www.reuters.com/article/2012/03/08/us-personalfinance-retire-expats-idUSBRE8270UO20120308

Retiring in Luxury to Hua Hin, Thailand

As part of our ongoing series of great places to retire on Social Security, many Americans have discovered the famous beach resort community of Hua Hin, Thailand.  Out of a population of approximately 85,000, about 10 percent of the residents are ex-patriots from other countries.

This lovely beachside city is the site of the Wang Klai Kan Won Palace, now used as the full-time residence of the King of Thailand.  It has a tropical climate, with pleasant temperatures that average from 76 to 89 degrees Fahrenheit.  The occasional rainfall amounts to about 39 inches a year.

What to Do in Hua Hin

This small city has good transportation, with its own domestic airport and modern rail service that can easily link residents to the major international airports in Bangkok and Suvarmabhumi.  The beach extends for five kilometers and is considered beautiful and clean.  Among the popular activities in the area are the beaches for snorkeling and swimming, golf courses, fishing, eco-cruising, spas, waterfalls, elephant camping, kite-boarding, national parks and a wide variety of restaurants and shops.  There is a nightly street market where visitors can enjoy shopping and dining on local seafood that is prepared on the spot. 



There are also fun karaoke bars, discotheques, and beer bars scattered throughout the city, especially near the seaside hotels.  Festivals are an important part of life in Hua Hin.  Among the annual events retirees can enjoy are the International Kite Festival, the Hua Hin Jazz Festival, and the Jua Hin Vintage Car Rally.  Residents and tourists can also enjoy modern shops, as well as restaurants and clubs at the local hotels.  A photo of the Market Village is shown shown here.


Health Facilities in Hua Hin

Hua Hin has several modern medical facilities, including the San Paulo Hospital, Hua Hin Red Cross, Bangkok International Hospital, and Hua Hin International Polyclinic.  The Dr. Pairat Eye Clinic is also located there.  Medical procedures in Thailand cost from 20 to 80 percent less than the same procedures in the U.S., and many people believe that the care you will receive is even better.

Living in Hua Hin, Thailand

American residents to this area will discover that English is widely used, and they can enjoy a high standard of living on a modest budget.  According to a  U.S. News article entitled "The Ideal Retirement Haven You've Never Heard of," a couple could live comfortably here for $1,100 a month.  Since most American retirees actually earn significantly more than this from their Social Security alone, this can be a very appealing location to consider.  Sample prices:

2 bedroom furnished ocean view apartment: $1000 - $1200 month
2 bedroom furnished home away from beach: $600 - $900 month
Full time housekeeper:  $300 month
Two-hour massage:  $20 - $35

For retirees wanting to take college classes, Webster University, which is the only international American accredited University in Thailand, has its main campus in the area.

Looking for more retirement ideas?  Use the tabs or the pull down menu at the top of this page to find links to hundreds of other helpful articles on where to retire in the United States or abroad, financial planning, medical issues, and changing family relationships.

You are reading from the blog: http://www.baby-boomer-retirement.com.

You may also be interested in some of these other blog posts:

Americans Retiring in Panama
Best Places to Retire Outside the US
Cheap Places to Retire (in the US)
The Best Sunny Places to Retire (in the US)
Finding Niche Retirement Communities (in the US)

Sources:

http://en.wikipedia.org/wiki/Hua_Hin_District
http://finance.yahoo.com/news/ideal-retirement-haven-youve-never-162657501.html

Crimes Against the Elderly

Many Baby Boomers are moving into retirement communities while they still have living parents who also live in a retirement community or an assisted living facility.  Unfortunately, with so many people over the age of 55 living in these neighborhoods, they have begun to attract the attention of criminals who are looking for easy victims.  As a result, Baby Boomers not only have to worry about keeping themselves safe from these predators, but many of us also have to worry about our parents, who can often be more trusting and less suspicious than their Baby Boomer children.

Crime Statistics Involving Elderly

According to the Project America website, for every 1000 people age 65 and over, here are the annual crime statistics:

Simple assault: 1.5
Personal theft:    .8
Robbery:           .6
Aggravated assault:  .3
Rape or sexual assault: .1

Overall, about 2.5 out of every 1000 people age 65 and over will be the victim of a crime every year.  Obviously, the longer you live, the greater your chances of being victimized.

Financial Crimes Against the Elderly

According to the same Project America article, the Department of Justice is especially concerned about financial crimes against the elderly.  In 1998, about one-third of the elder abuse cases that were discovered included financial exploitation, and the statistics have remained similar since that time.  This can include relatives that steal money from senior citizens, financial advisers who are dishonest, and strangers who trick retirees into paying bills they do not owe or donate to charities that do not exist.

Telemarketing Fraud Against the Elderly 

In addition, the elderly have reported about $40 billion in losses as a result of telemarketing fraud, and this problem is growing yearly.

On my Lies and Liers blog, I wrote a post about a phone call I received.  The post is titled "Lies and Liars: Computer Virus Scams," and the incident so infuriated my husband that he reported it to the Federal Internet Crime Complaint Center at http://complaint.ic3.gov/.  This government agency shares this information with other law enforcement agencies, both local and national.  I highly recommend that anyone who experiences a similar phone call report it to the Federal Internet Crime Complaint Center.  While you are unlikely to get reimbursed for any losses, this site is the first step in trying to end these types of crimes.

These phone calls take many forms.  In the case I wrote about, a stranger called and tried to trick me into letting him take control of my computer so he could show me that I had a "computer virus" on it.  When people have fallen for this scam in the past, the caller has loaded a virus onto their computer and then sold the victims anti-virus software.

Other Hoaxes Directed at Senior Citizens

One of the disadvantages of living in a retirement community is that we receive so many fraudulent calls.  The issue has become serious enough that we have begun screening most of the phone calls we receive at our home.  If we do not recognize a name or phone number for an incoming call, we let our answering machine pick up the call.  Then we decide if we want to return it.

Many seniors continue to be tricked into giving strangers their Social Security number and other identifying information because they are being told it is necessary in order to receive government assistance to pay a portion of their utility bills or other obligations.  This is another complete fraud, often targeting the elderly.

Crimes that Pull At Your Heart Strings

Some of the worst crimes are those that rely on your charitable nature or desire to help others.  One of the most horrifying one is "The Crying Teenager Hoax."  In this hoax, a crying teen calls, pretending to be your grandchild or other relative.  They ask you to wire them money in another state because they have been in a car accident or arrested.  Thousands of seniors have sent wire transfers to strangers, believing they were helping a young relative.  Sometimes it is days before they realize they have been cheated.

Other Types of Crimes Against the Elderly

It is a shame that we need to remain constantly vigilant.  However, as a resident of an over-55 community, I realize that I have received more fraudulent phone calls since I moved here than at any other place I have ever lived.  In addition, a member of our Homeowner's Association Board of Directors told me this morning that many of the elderly in our community have been robbed by their home healthcare workers and other people who are supposed to be "helping" them.  This is especially shocking, because we live in a community that is considered one of the safest in California!

No matter how old we live to be, or how safe we deem our community, we are never too old to be the victim of a crime.  We can never let our guard down ... for ourselves, our parents, our friends or our neighbors.

If you are interested in learning more about retirement planning, financial issues, where to retire, medical concerns and changing family relationships, use the tabs or pull-down menu at the top of the page to find links to hundreds of additional helpful articles.

You are reading from the blog:  http://www.baby-boomer-retirement.com

Photo courtesy of morguefile.com/