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Preparing to Live Longer, Elder Law Attorney, Woodstock, GA


The fact that people can expect to live longer than was normal in the past, means that different preparations need to be made.

The average life expectancy of Americans has risen for the last century and especially so in the last few decades. Many experts expect that it will continue to rise. However, the data on just how much it has risen can be somewhat misleading. because distant historical life expectancies are brought down by much higher infant mortality rates 100 years ago.

Despite that problem with the data, we can still see a clear trend of people living longer than previously, if they survive into adulthood. A longer life normally means a longer life in retirement, as most people still want to stop working at about the same age as people wanted to in previous generations.

That means people need to prepare differently than in the past, as Forbes points out in “You May Live Longer Than You Expect: Are You Prepared?

The most obvious thing people need to do differently, is to save more money for retirement. Everyone understands that the longer you live in retirement, the more money you need to pay your expenses.

The less obvious thing is that estate planning, in many cases, needs to be done in a slightly different way.

It becomes more important to have an estate plan in place to make sure that you have a way to preserve assets for future generations. However, estate planning also needs to be more flexible because the longer a person lives, the greater the chances that unexpected contingencies will occur.

Estate planning needs to be done in a way that any contingencies do not cripple the plan or the ability of a retired person to meet his or her needs.

If you have questions about preparing for a longer life, visit a financial planner and an estate planning attorney for assistance.

Reference: Forbes (March 31, 2017) “You May Live Longer Than You Expect: Are You Prepared?

 

Hear From Our Clients
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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben