Why It Matters:
We’re living longer than previous generations.
Increased longevity comes with a new set of concerns.
Estate planning isn’t just about preparing for death, but also preparing for a longer life
Estate planning isn’t just about preparing for what happens if you die. It’s also about being prepared if you stick around.
The good news is, by and large, we’re living longer than previous generations. The Social Security Administration estimates a woman turning 65 today can expect to live to 86.6 years of age. For a man turning 65, life expectancy is 84.3 years of age.
Longer life comes with some concerns
“The stuff that used to kill us — like cancer, heart disease, and stroke — doesn’t always kill us anymore,”
“As we live longer, we’re more at risk for dementia and other medical conditions that can impact our legal capacity.”
The Alzheimer’s Association estimates that 5.5 million Americans have Alzheimer’s disease, with that number potentially climbing to 16 million by 2050.
Many people view estate planning as something to be addressed later in life or only after they have accumulated substantial wealth. The reality is that anyone who owns a home, has children, or contributes to a retirement account can benefit from a simple estate planning review. A basic understanding of estate planning can help you take care of the people who are important to you, potentially reduce taxes, and avoid common mistakes
For more information please contact Robert Goldsmith - 877-529-6543