The Census Bureau released an estimate that the population in the U.S. over 65 will grow more than 60 percent between now and 2040. The elderly will make up almost a quarter of the American population. As we age, an estate plan becomes more and more essential for our future wellbeing.
It’s critical for adults at all stages of life to begin thinking about estate planning. We need to assemble legal documents in preparation for the surprises of life, and also to ensure that our aging relatives are adequately prepared in case they fall prey to dementia, Alzheimer’s, or other incapacities. Without an estate plan, the chances of ending up in court are extremely high. And the associated costs can be extraordinary. Prepare today to avoid future chaos.
There is no better time to begin your estate preparation or touch base with your elderly loved ones about their plans. Protect yourself and your family by reaching out to our firm for an estate planning consultation.
Check out more on American aging here and stay tuned to our blog for more information about estate planning.
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