65+ Americans……..highest number in history!!!!!

We just read an article in U.S.News that indicated that there are more Americans age 65 and older than at any previous time in U.S. history.

As of April 1, 2010, there were 40.3 million 65+.

This number is up 15% from 2000. Currently woman outlive men: just 90.5 males for every 100 females 65 and older.

Real estate values are down, investment portfolios are down, increases in the cost of long-term care…….the question is how do you protect your home and assets if long-term care (in-home, assisted living or skilled nursing) is needed?

There are just a few things that you can do right away that will be very beneficial:

  • Make sure you have a well written, up to date Power of Attorney (not the one page, “check here” variety)
  • Do you have an updated Health Care Power’s of Attorney and HIPAA (medical information) release forms
  • When was the last time you checked your beneficiary designations:  how many times do we see life insurance policies from first jobs or first wives that have not been corrected.

If you have any questions on this or any long-term planning/asset protection questions, please do not hesitate to write: rick.messemer@wgalaw.com or one of our VA Accredited Attorneys, Tovah McDonald Mitchell  or tovah.mcdonald@wgalaw.com