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Majority of Adult Children Cannot Support Boomer Parents, Surveys Find
December 2, 2022
A recent survey by the American Advisors Group (AAG) finds that 55 percent of adult children say they are not financially prepared to help their Baby Boomer parents cope with rising inflation and living expenses. “Americans want to see their parents age with grace and dignity and have the resources they need to live comfortably, but for […]
Filial Responsibility: Requiring Adult Children to Pay for Aging Parents’ Care
July 6, 2022
Did you know that in many states you could be responsible for your parents’ unpaid medical bills? In fact, more than half of all states currently have laws making adult children financially responsible for their parents, including their parents’ long-term care costs. However, these laws are rarely enforced. Notably, New Jersey does not have filial […]