Estate Planning & Alzheimer’s Disease
As the population ages and the baby boomer generation enters retirement, 10,000 Americans turn 65 years old every single day – a trend that will continue for the next 19 years, according to the Pew Research Center.
Although research shows Americans in this demographic – those born between 1946 and 1964 – are living far longer and healthier lives than previous generations, there are still certain genetic diseases that can seriously impact an individual’s health and longevity.
Alzheimer’s disease, which is the most common form of dementia, is a progressive disease that destroys a person’s memory and other mental abilities. Because it usually affects people very gradually, it may be difficult to notice the signs until a person is incapacitated – something that has serious consequences for end-of-life and estate planning.
Important Information about Alzheimer’s Disease
Many people are fearful of the aging process, which prevents them from thinking about estate planning. Although no one likes to think of becoming frail or incapacitated, knowledge is a powerful and valuable tool that can help you make well-informed decisions about your present and your future.
With this in mind, here are some key facts about Alzheimer’s disease:
- Alzheimer’s disease is not a normal part of the aging process. In fact, up to five percent of people with the disease are in their 40s.
- There is no cure for Alzheimer’s disease, however, medical researchers have developed medications that slow the worsening of the symptoms.
- Alzheimer’s disease is the sixth leading cause of death in the U.S.
- Women are more likely to suffer from Alzheimer’s disease, with women accounting for two-thirds of all sufferers.
- As of 2015, approximately 5.3 million Americans suffer from Alzheimer’s disease – 200,000 of these have the early onset form of the disease.
- By 2050, the number of people age 65 and older with Alzheimer’s disease may skyrocket from 5.1 million to 13.8 million due to an aging population.
Many in the baby boomer generation also face the unique challenge of caring for their own elderly parents while still providing for teen and college-age children – a phenomenon sometimes referred to as the “sandwich generation.” Now more than ever, it is important for people in this age group to work with an experienced estate planning lawyer to build an estate plan that provides peace of mind and financial security.
Springfield, Missouri Estate Planning Law Firm
At the Law Office of Randy L. Smith, LLC, we help people create estate planning documents that provide peace of mind. Call today at (417) 841-2775 to speak to an experienced estate planning lawyer about your case.