Senior Estate and Longevity Planning

According to the Alzheimer’s Association, Alzheimer’s disease is a type of dementia that causes problems with memory, thinking and behavior. Symptoms usually develop slowly and get worse over time . . .

When someone you love, in particular, your spouse, becomes ill you want to help them get well. But what happens when the illness is dementia?

Estate planning is important for people of all ages, but as we age, the need for planning becomes even more critical. Many people avoid estate planning, because they do not want to think about the end of life, failing health or disability.

Most people dream of the day they can retire. The problem is that many do not move beyond dreaming to planning. Planning can be done no matter what your age, but experts encourage people to start as early as possible. Retirement planning can seem like a daunting endeavor for many people as they focus on day-to-day financial obligations. Many people have no idea where to start.
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Congress passed the Tax Cuts and Jobs Act in December of 2017 which is aimed at cutting taxes for corporations and all Americans. While the bulk of the legislation went into effect January 2018, most taxpayers will not see much of a difference in their taxes until 2019, when they file their 2018 taxes. However, there are several important changes seniors need to be aware of now that could affect not only their tax bill, but other items such as their health care premiums. 

Aging is the sign of a successful life. After all, when you think about the alternative to aging your perspective about getting older shifts.

Within the next 20 years, there will be an increased need for memory care housing options as the Baby Boomers continue to age. In 2016 alone, more than 2.5 million Baby Boomers turned 70 years old, the youngest boomers hitting age 52. With advancing age comes an increased risk of Alzheimer’s disease and other dementia. Recent estimates state that the number of Americans living with Alzheimer’s disease could potentially triple from the 5 million sufferers in 2013 to around 14 million by the year 2050.