For the month of September, we'll be focusing on issues facing people aged 65 and older – with particular attention to issues around retirement, health benefits and estate planning. 65 is a milestone age for most people as that is the age at which they will become eligible for Medicare.
This month’s blogs will address topics including: the different types of Medicaid programs available; the important distinction between Medicare and Medicaid; when to begin taking social security benefits and how to pay for long term care.
With regard to estate planning, 65 is a particularly important age to check in with your estate planning attorney. You may be contemplating retirement, selling or transitioning a business, downsizing your home, changing your state of residency or flying south for the winter, all of which may require significant changes to your estate plan. You may also want to consult with your financial advisor and CPA to review your investment strategy, discuss whether long-term care insurance is right for you and address any income tax issues as you go forward into retirement.
There are a myriad of estate planning, financial and medical considerations facing those 65 and older. This area of law is extremely complex and one common theme is that you must consult with an attorney who specializes in elder law planning distinct and apart from someone who specializes in estate planning. We urge you to begin the planning process earlier rather than later if any of these issues are relevant for your family.
For more information, explore our website and contact us to schedule your consultation today!