“Life’s tragedy is that we get old too soon and wise too late.” ~ Benjamin Franklin
Since wisdom means that you realize the finite nature of life, living well calls for careful estate planning. As Baby Boomers age, they discover the realities associated with aging:
- By 2030, the elderly population (65 or older) is expected to double from its current 35 million to 70 million.
- The rising senior population accompanies a corresponding rise in memory and cognitive issues caused by diseases like Parkinson’s and Alzheimer’s. Correspondingly, so does a rise in potential for abuse, neglect and undue influence.
- Among elderly violent crime victims, about 59% reported being victimized at or near their home.
Put safeguards in place to assure that responsible people will act as your caregiver when the time comes:
- Set up a general Power of Attorney (POA) before you will need it.
- Ask your estate attorney to make separate provisions for medical and property Durable Powers of Attorney.
- Consider who to name to care for you, as well as who should step in to replace that person, if need be.
As is true for every aspect of estate planning, communication breeds success:
- Bring concerned parties together early to discuss care-provision options.
- Tell everyone assigned caregiver roles.
- Assure the appointed caregiver that you trust their skills and judgment.
- Circumstances, however, can change – sometimes abruptly and unexpectedly. With that in mind, consider creating a review committee to protect your interests and support the caregiver’s efforts. You should plan to protect their interests, as well.
- Through early planning and open communication involving all parties – family members, caregivers and your estate attorney – you will be able to relax, confident that you have a future that’s solid, safe and secure.
About Skvarna Law: Estate Planning, Elder Law, Probate, Trusts, Wills
Skvarna Law Firm operates offices in Glendora and Upland, California and provides legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
