Do you know that you could live many years longer than you expect? With women living longer than men and people living longer overall, you can’t afford not to plan ahead for this. 
For many years traditional retirement planning was based on receiving a pension plan from your employer, and probably an employer you had stayed at for many years or even decades.
However, that could now be subject to problems as a result of the fact that plenty of employers are not offering pension plans anymore. Increasing longevity and the rising costs of long term care or dealing with incapacity in older age also present unique challenges for those who need to protect their interests now and well into the future. Considering that a non-smoking 65-year-old woman today has a 50% chance of reaching the age of 88 and male counterparts have the same chance of living to age 85, it’s important to consider the many ways that longevity could affect your future. Anyone who is likely to live longer should plan for incapacity, obtain long term care coverage or discuss the benefits of advanced Medicaid planning, and engage in estate planning techniques that can avoid probate.
Several different types of estate planning strategies can be used to accomplish your retirement goals, your estate planning needs and your elder law issues. Some examples include changing the state in which you live if you are currently at risk of paying high taxes there when you pass away, giving assets away during your life or using credit shelter trust. The support of an experienced attorney is advisable if you believe that you need to protect your best interests and your loved ones now and well into the future.
Knowing the basics of long-term care and walking through them with professionals helps guard you against dangerous outcomes in your life. You deserve to know what to expect and to plan for it accordingly.
Schedule a consultation with an estate planning attorney who is knowledgeable about all of these different issues and can walk you through how your estate plan should evolve as your individual needs and life evolve too. The support of a lawyer is instrumental in giving you peace of mind and developing clarity for the future.
