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How to get Mom to prepare for retirement?
My mom expects to be able to live on Social Security and the $70,000 her company contributed to her 403(b) over the years. Friends have advised I have no legal obligations to provide for her. I certainly have social ones. What happens when she becomes too old to work and doesn’t have enough money to cover her expenses?
Answer: Your friends may be wrong about your legal obligations, because 29 states — including California — have what are called “filial responsibility” laws which create a legal duty for adult children to support indigent parents...Read More
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