As more seniors embrace independent living, they face unique challenges like isolation, financial vulnerability and health risks. Proactive strategies, from creating a safe home to planning with an elder law attorney, empower older adults to thrive, while safeguarding their independence and long-term well-being.
Though ‘estate planning’ may bring to mind visions of rich families squabbling over the ancestral silver, it isn't just for the wealthy or older people, financial planners say.
In an elder abuse horror story, a young woman spends $71,000 belonging to her uncle with dementia. Proper estate planning can safeguard your assets in the face of cognitive decline.
Seniors with mild cognitive impairment (MCI) can still make legal decisions. However, this may change. Early legal planning is essential to protect their autonomy as cognitive decline progresses.
A pet trust legally ensures that pets receive care if owners pass away or become incapacitated, providing structured instructions and funding for long-term pet welfare.