They say that everything is connected, and this is certainly true when it comes to long term planning. When you talk about estate planning it can seem as though it is a matter that is specific to the transferal of your assets after you pass away. But this event is the conclusion of a continuous time line, and what happens during your twilight years is going to impact you in many ways and it may also have a profound impact on your estate.
One thing to consider as you plan for the latter stages of your life is the possibility of contracting Alzheimer’s disease. We are all well aware of the existence of Alzheimer’s but just how widespread the disease has become is actually rather shocking. Present statistics indicate that 13% of senior citizens are suffering from Alzheimer’s disease, and as you get older the likelihood of Alzheimer’s increases considerably. Is estimated that somewhere between 40% and 50% of Americans 85 years of age and older are suffering from Alzheimer’s disease.
The average lifespan is 78.4 years, and the portion of the population that is at least 85 years old is the fastest growing age demographic in the United States. When you combine all of the statistics a very clear picture emerges: people are living longer and the longer you live the more likely it is that you will contract Alzheimer’s disease.
If you don’t already have an incapacity plan in place, now is the time to contact your elder law attorney to take steps to protect yourself and your family from this ever present danger.
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